China ESG - Weekly news update June 2020 / 03

First public fund with the theme of female consumption 

The first public fund with the theme of female consumption - Bosera Women's Consumer Themed Mixed Fund (A: 009619 C: 009620) was officially launched on June 8, the fund was managed by Bosera Fund Management Co., Ltd. issued by Standard Chartered Bank (China). This is also the first time that the Chinese investment market has clearly emerged in the field of female consumption.

ESAs announce public hearing on ESG disclosures 

The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) will organise on 2 July 2020 a public hearing on proposed environmental, social and governance (ESG) disclosure standards for financial market participants, advisers and products. The aim of the public hearing is to explain and discuss the content of the consultation paper published on 23 April, on the draft RTS under the Regulation on sustainability‐related disclosures in the financial services sector. 

American Express Gets Nod to Start Operating Card Network in China

China’s central bank gave American Express Co. the green light to start operating a card-clearing network that will process transactions in yuan, giving the U.S. card company greater access to the country’s spenders.

On Saturday, Amex said it is the first foreign payment network to be licensed to clear domestic transactions in mainland China. The New York-based company has a Chinese joint venture called Express Co. that will run the network and process local-currency payments made with Amex-branded cards.