China’s market regulators will publish a comprehensive list of companies deemed “systemically important financial institutions” (SIFIs), in a move to grant greater protection against 2008-style market crises.
The list of over 50 financial institutions, including banks, securities firms and insurance companies, will be subject to additional regulatory requirements on liquidity, leverage ratios and large investments, according to central bank guidelines released on Tuesday.
Taken together, the companies will account for at least 75% of total assets in their respective sectors, according to Caixin.
The Chinese list will also include some domestic fintech platforms, such as Alibaba’s Ant Financial, going further than other international lists which are limited to banks and insurers.
China already has five financial institutions deemed SIFI by the Switzerland-based Financial Stability Board. They are insurer Ping An and the country’s “big four” state-owned commercial banks.