The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has released a public statementthat clarifies the application of the European Union’s (EU) trading obligation for derivatives (DTO) following the end of the UK’s transition from the EU on 31 December 2020.
The European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA), the European Supervisory Authorities (ESAs), have published a final report with draft regulatory technical standards (RTS) proposing to amend the Commission Delegated Regulation on the risk mitigation techniques for OTC derivatives not cleared by a CCP (bilateral margin requirements) under the European Market Infrastructure Regulation (EMIR).
The European Securities and Markets Authority, the EU’s securities markets regulator, launches a public consultation on supervisory fees for data reporting services providers (DRSPs) to be supervised by ESMA starting in 2022.
The European Securities and Markets Authority, the EU’s securities markets regulator, launches a public consultation on criteria to identify Authorised Reporting Mechanisms (ARMs) and Approved Publications Arrangements (APAs) subject to authorisation and supervision by a competent authority of a EU Member States from January 2022.
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, published its first statistical report on European Union (EU) securities markets. The Report uses new regulatory data sources to give, for the first time, a comprehensive overview of European equity and bond markets in 2019, including the number, characteristics, volumes traded and transparency data on the equity and bond instruments subject to MiFID II. A webinar open to the public will be held on 25 November to present the report.
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, publishes its third Annual Statistical Report(Report) analysing the European Union’s (EU) derivatives markets. It provides a comprehensive market-level view of the EU’s derivatives markets in 2019, which had a total size of €681tn gross notional amount outstanding, a decrease of 5% on 2018. The Report is based on data submitted under the European Markets and Infrastructure Regulation (EMIR).
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, using its new convergence powers, has identified costs and performance for retail investment products and market data quality as the Union Strategic Supervisory Priorities for national competent authorities (NCAs).
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published a Report on the preparedness of investment funds with significant exposures to corporate debt and real estate assets, for potential future adverse liquidity and valuation shocks. The Report identifies five priority areas for action which would enhance the preparedness of these fund categories.
The European Securities and Markets Authority (ESMA), the EU securities markets regulator, publishes its first annual reporton the use by National Competent Authorities (NCAs) of sanctions under the Alternative Investment Fund Managers Directive (AIFMD).
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, publishes its 2019 reporton the use of supervisory sanctions by National Competent Authorities (NCAs) under the Undertakings for Collective Investments in Transferrable Securities (UCITS) Directive
The European Securities and Markets Authority (ESMA), the EU securities markets regulator, publishes its second risk dashboard for 2020 which sees a continued risk of decoupling between asset valuations and economic fundamentals.
The European Securities and Markets Authority (ESMA) has issued the official translations of its guidelines on securitisation repository data completeness and consistency thresholds.
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has released a Report on Post Trade Risk Reduction services(PTRR) under the European Market Infrastructure Regulation (EMIR). The Report analyses whether any trades that directly result from PTTR services should be exempted from the clearing obligation.
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has updated three statements which address the impact on reporting under EMIR and SFTR and on the operation of ESMA databases and IT systems after 31 December 2020, the end of the UK’s transition from the EU.
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, launches a consultationon guidelines on marketing communications under the Regulation on facilitating cross-border distribution of collective investment undertakings.
The European Securities and Markets Authority (ESMA), the EU’s securities and markets regulator, has updated its public register with the latest set of double volume cap (DVC) data under the Markets in Financial Instruments Directive (MiFID II).
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has issued Questions and Answers (Q&As) concerning the Prospectus Regulation(PR) and the Transparency Directive(TD) in the context of the Brexit transition period. ESMA has also updated prospectus Q&As as part of an ongoing Q&A revision exercise.
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published an open call for candidatesfor industry experts in corporate finance.
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has launched a Consultation Paper (CP) seeking input from market participants in relation to its draft guidelines on the MiFID II/MiFIR obligations on market data.
Today, ESMA Executive Director, Verena Ross, has delivered a speech on the CRA Regulation, and related issues, at ECMI’s 2020 Annual Conference which was held online on 5 and 6 November.
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has updated its Questions and Answerson the implementation of investor protection topics under the Market in Financial Instruments Directive and Regulation (MiFID II/ MiFIR).
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has updated its Questions and Answers on the European Benchmarks Regulation (BMR).
The European Securities and Markets Authority (ESMA) has issued the official translations of its guidelines on performance fees in UCITS and certain types of AIFs.
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published its first set of Questions and Answers relating to reporting under the Securities Financing Transactions Regulation (SFTR).
The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published its Consultation Paper containing ESMA’s draft advice to the European Commission on Article 8 of the Taxonomy Regulation. This specifies the content, methodology and presentation of the key performance indicators (KPIs) that non-financial undertakings and asset managers are required to disclose.
Prevention efforts and treatment for children remain some of the lowest amongst key affected populations, and in 2019, a little less than half of children worldwide did not have access to life-saving treatment, UNICEF said in a new report on Wednesday.
“There is still no HIV vaccine. Children are still getting infected at alarming rates, and they are still dying from AIDS. This was even before COVID-19 interrupted vital HIV treatment and prevention services,” said @unicefchief.
Nearly 320,000 children and adolescents were newly infected with Human Immunodeficiency Virus (HIV) and 110,000 children died of Acquired Immune Deficiency Syndrome (AIDS) last year.
“Children are still getting infected at alarming rates, and they are still dying from AIDS. This was even before COVID-19 interrupted vital HIV treatment and prevention services putting countless more lives at risk”, said UNICEF Executive Director Henrietta Fore.
According to UNICEF, the COVID-19 pandemic has worsened inequalities in access to life-saving HIV) services for children, adolescents and pregnant mothers everywhere, and there are serious concerns that one-third of high HIV burden countries could face coronavirus-related disruptions.
“Even as the world struggles in the midst of an ongoing global pandemic, hundreds of thousands of children continue to suffer the ravages of the HIV epidemic”, said Ms. Fore.
Data from the Joint UN Programme on HIV/AIDS (UNAIDS), cited in the report, shows the impact of control measures, supply chain disruptions, lack of personal protective equipment (PPE), and the redeployment of healthcare workers on HIV services.
Challenges remain
Paediatric HIV treatment and viral load testing in children in some countries fell by 50 to 70 per cent, and new treatment initiation by 25 to 50 per cent in April and May, coinciding with partial and full lockdowns to control the novel coronavirus.
Health facility deliveries and maternal treatment were also reported to have reduced by 20 to 60 per cent, maternal HIV testing and antiretroviral therapy (ART) initiation by 25 to 50 per cent, and infant testing services by approximately 10 per cent.
Though the easing of control measures and the strategic targeting of children and pregnant mothers have successfully led to a rebound of services in recent months, challenges remain, and the world is still far from achieving the global 2020 paediatric HIV targets, said UNICEF.
Regional disparities
Despite some progress in the decades-long fight against HIV and AIDS, deep regional disparities persist among all populations, especially for children.
While the Middle East and North Africa region recorded 81 per cent paediatric ART coverage, only 46 per cent and 32 per cent were covered in Latin America and the Caribbean, West and Central Africa, respectively.
The South Asia region recorded 76 per cent coverage, Eastern and Southern Africa 58 per cent, and East Asia and the Pacific 50 per cent.
BRUSSELS: The European Union on Wednesday committed to be “creative” in the final stages of the Brexit trade negotiations but warned that whatever deal emerges, the United Kingdom will be reduced to “just a valued partner” far removed from its former membership status.
EU Commission chief Ursula von der Leyen said “genuine progress” had been made on several issues “with an outline of a final text”, little more than a month before Britain’s transition period as a former EU member runs out.
And she said that on the divisive issues of fisheries, governance of any deal and the standards the UK must meet to export into the EU, the bloc is “ready to be creative, but we are not ready to put into question the integrity of the single market, the main safeguard for European prosperity and wealth”.
In the EU single market, goods and services can freely flow from one of the 27 member states to another without barriers like customs or checks, and it is seen as a cornerstone of the EU. With Britain deciding to walk out, von der Leyen insisted it should feel the cold.
“One thing is clear. Whatever the outcome, there has to be and there will be a clear difference between being a full member of the union and being just a valued partner,” she told legislators at the European Parliament.
The Bishops of Eritrea have expressed their deep sadness over the conflict between Ethiopia’s federal government and the regional government of Tigray state. They are appealing for peace and a cessation of the destructive hostilities.
Eritrea is Ethiopia’s northern neighbour bordering the Tigray region. The countries have a long and troubled history of conflict with war breaking out between the nations in 1998 over a complex territorial, economic and political dispute that left tens of thousands of people dead. Despite the Algiers peace agreement in December 2000 ending the border conflict, Ethiopia and Eritrea remained in a state of armed standoff for nearly 18 years.
Meanwhile observers report an escalating regional tension as Tigray Peoples Liberation Front leaders in recent months have increasingly accused Eritrea of meddling in Ethiopia’s domestic affairs.
What’s more, there are currently four refugee camps in northern Ethiopia sheltering nearly 100,000 Eritrean refugees. Humanitarian agencies, who have asked for the opening of humanitarian corridors, are expressing fears the refugees may be facing threats of violence, harassment and food shortages amid conflict in the Tigray region
War, the Eritrean Bishops said in a recent statement, “is anti-life and anti-development…it kills, maims, destroys, displaces and sows lasting grievances and hatred among people,” and they added, it also destroys the four pillars of peace: truth, justice, love and freedom/liberty.
Once a war starts, continued the Bishops, “no one knows when and where it ends,” they said, noting that “all the parties are losers and there is no winner.” This, according to the Bishops, is why Pope Saint John Paul II said: “war does not have any meaningful value, and is always unjust.”
The Bishops further pointed out that the consequences of war are a “self-evident truth to the world” – especially to the peoples in the Horn of Africa where, nonetheless, conflicts sadly persist unabated.
Pillars of peace
Outlining the pillars of peace as truth, justice, love and freedom, the Bishops stressed their importance to the situation.
Truth, they pointed out, assures individual rights, safeguards the common good and protects the rights of others; Justice for its part, “guarantees the rights of others, incentivizing progress to build peace.”
At the same time, Love instills empathy for the needs of others and creates reciprocity to build peace through “intellectual and spiritual participation in dignity.” Freedom allows people to assume their obligation in contributing to the development of peace.
Peace and truth connected
To achieve Peace, there must be respect for human dignity and human rights, the Eritrean Bishops affirmed.
In this regard, peace and truth become connected through the transmission of true and correct information, a transparent democratic process that guarantees the participation of all citizens, access to equal justice for all before the law, and a readiness to resolve conflicts through constructive, peaceful means.
The Eritrean Bishops, therefore, call for an end to the hostilities and appeal that both sides resolve the conflict through peaceful dialogue instead of “all the inflammatory words and propaganda that are fanning the fire.”
Pope’s appeal for peace
Pope Francis, during the Angelus on 8 November appealed for peace in the troubled Tigray region. He said that he “is following with concern” the news regarding the escalation of violence in Ethiopia and appealed to authorities to “reject the temptation of armed conflict.”
The Pope also invited all Ethiopians to pray for the nation and encouraged “fraternal respect for dialogue and the peaceful resolution of discord.”
Ethiopia’s conflict
Ethiopia’s northern state of Tigray is run by the Tigray People’s Liberation Front (TPLF). The group, once the dominant ruling coalition in the East African country, began to lose its hold on power after Prime Minister Abiy Ahmed took office in 2018. The Prime Minister dissolved the ruling coalition and merged its regional parties into one single party, sparking allegations of unfair treatment.
Tensions escalated in August after the Abiy Ahmed-led government rescheduled national elections till next year because of the Covid-19 pandemic. Tigray leaders, alleging that the postponement was the Prime Minister’s strategy to prolong his stay in office, organized their own elections in September, with over 2 million people going to the polls.
The Ethiopian government, in retaliation, placed sanctions on the Tigray state, setting into motion a series of recriminations between the state and federal governments.
On 4 November, Abiy announced a military offensive against Tigray in response to an alleged attack on a military base in Mekelle. Several hundred have been killed in the violent conflict and over 200,000 Ethiopians have fled for their lives into neighboring Sudan.
The worst of the second wave of the coronavirus is over: Those were the words of French President Emmanuel Macon as he gave a televised address to the nation on Tuesday evening.
But he also warned, “We must do everything to avoid a third lockdown.” With that in mind, he said restaurants, cafes and bars would stay shut until Jan. 20 to avoid triggering a third wave.
This gradual easing of curbs means that from Saturday, November 28, shops will re-open following a month long lockdown imposed on Oct 30.
In mid-December, the lockdown will be lifted if the number of new cases has fallen to around 5,000 a day, and people will be free to travel across the country to see family and friends over the Christmas period. Theatres and cinemas will also be allowed to open their doors again.
France registered over 9,000 cases on Tuesday, and crossed the 50,000 deaths milestone.
Church response
However, not everyone is happy with the new arrangements. The French Bishops’ Conference said in a statement the announcement of a resumption of public ceremonies with a maximum of 30 people was both “disappointing and surprising.”
The statement went on to say that the matter was discussed in a phone call between the French President and the President of the Bishops’ Conference, Archbishop Eric de Moulins-Beaufort.
The Archbishop tweeted on Tuesday evening that Catholic voices were not heard and the Conference was asking that the measure be revised.
In an updated statement on Wednesday the Bishops said, “It appears that a realistic, yet strict, measure will be defined by Thursday morning for implementation in two stages: Saturday 28 November and then after the reassessment of 15 December.” “It is in this perspective that the EFC (French Episcopal Conference) continues its dialogue with the offices of the Prime Minister and the Minister of the Interior”.
Prime Minister Jean Castex is due to hold a press briefing Thursday morning to detail Emmanuel Macron‘s announcement concerning the gradual lifting of restrictions.
So, for the time being, while the resumption of public worship in France is now a certainty, the way it is implemented continues to be subject to adjustments.
Emergency Medical Teams (EMTs) are WHO-classified teams of health-care professionals who can be deployed to provide immediate assistance to countries and territories during natural disasters, outbreaks and emergencies. During the COVID-19 pandemic, demand for EMTs surged across different regions, and WHO facilitated the transfer of knowledge and practices in the spirit of solidarity.
In the WHO European Region, 8 EMTs have responded to requests for assistance from 6 different countries to help with the COVID-19 response in 2020. The Region has 50% of global EMT capacity, with 15 WHO-classified teams and more than 30 others under mentorship, ready to be deployed in the coming years.
Dr Oleg Storozhenko, Partnerships Officer at WHO/Europe, highlights a new twinning programme that encourages experienced EMTs to partner with interested Member States and nongovernmental organizations to help them strengthen national emergency response capacities.
“During COVID-19, we have seen how EMT response activities can inspire governments across the WHO European Region and beyond to provide a stronger national medical response to emergency situations through improving skill exchange with local health-care workers and establishing local EMT capacities,” he notes.
Georgia and Germany were the first to collaborate in this way. Georgia benefitted from German EMT expertise to train its own national team, which then became heavily involved in the country’s COVID-19 response. Azerbaijan and Turkey are now adopting the same formula. Demand for homegrown EMTs has increased during the pandemic, with support from national governments or nongovernmental organizations.
Dr Harald Veen, a mentor for the WHO EMT initiative, says the focus is on building national teams that can respond rapidly in a crisis. “The health professionals in these teams used to be focused on packing up to leave for another country, but with COVID-19 everything changed, and there was an immediate need for their expertise at a national level.”
Alongside the twinning programme, a mentorship scheme enables a greater number of teams to quickly reach the required standards for WHO classification and subsequent deployment. The WHO scheme encourages established EMTs to offer advice and support to newer, yet-to-be-classified teams. There are currently 65 teams under mentorship globally, and a further 28 teams have declared an interest in starting the process.
Mentorship: providing advice and hope
Team leader Dr Wojtek Wilk describes how mentors from Spain helped his EMT from Poland develop their skills related to issues of water supply, water treatment and sewerage. Teams must demonstrate competence outside their specialist areas and, he says, “mentorship is therefore a major part of the global classification process. A mentor provides advice and hope and is of immense help in overcoming obstacles.”
After deployments to Ethiopia, Italy, Kyrgyzstan and Tajikistan, Dr Wilk’s team of professionals returned to Poland to help respond to a rise in COVID-19 cases on home soil. They also mentor other nascent EMTs to achieve WHO certification.
As a mentor and technical adviser to the WHO Secretariat, the body responsible for making sure that each EMT reaches an agreed minimum standard, Dr Veen oversees the progress of each team towards this goal. “We push them to write down their procedures so that these are clear and can be followed by any new team members,” he explains, adding that he is proud to be promoting WHO’s high standards. “Everything should be written out succinctly so that EMTs are able to prevent harm, work in the most efficient way for patients and be humanitarian role models.”
A new role for EMTs
During the COVID-19 pandemic, EMTs have adapted to provide on-the-job COVID-19 training and support to ministries of health. They aim at strengthening triage and hospital referral procedures and improving infection prevention and control measures, including proper patient flow and treatment protocols for COVID-19 patients.
Dr Wilk explains that this reflects a shift in the way EMTs operate. For example, professionals with expertise in treating patients directly in field hospitals and intensive care units and dealing with trauma and surgical interventions have found themselves needing to employ a different range of skills during the pandemic. The training and capacity-building component of their work has come to the fore during this time.
“Strengthening preparedness for the COVID-19 response is a new and quite unexpected role for the EMTs,” he observes. “Not all doctors are skilled trainers or have the necessary interpersonal skills to be effective in this role. However, training and knowledge-sharing are both critical as EMTs are only present in any country for a finite period of time, while the COVID-19 pandemic is probably set to last.”
Assistance and solidarity
During final certification, an independent WHO team along with peers from other EMTs check that the required standards have been reached. Mentors undertake regular phone calls, video meetings, visits and protocol checks to keep teams motivated in difficult circumstances, interspersed with reminders to eat and rest well.
Dr Veen highlights the long-term benefits of providing peer support and training to EMTs. As well as being cost-effective, he says that swapping expertise gives EMTs “an immense opportunity to improve humanitarian assistance”, enabling governments to select the types of teams best suited to respond to a particular set of circumstances.
The message of solidarity is strong, agrees Dr Wilk, who also notes that EMTs are on the frontline of the global response to COVID-19. “I was asked recently if there is fear associated with working in a COVID-19 hospital,” he muses. “The only answer I could think of was, ‘there is fear, of course, but somebody has to do it’. The world needs teams that can deploy to wherever there is a need, if the situation in their home country permits. This is assistance, but also solidarity.”
At the General Audience on Wednesday, Pope Francis turned his gaze to the prayer life of the early Church, as he continued his catechesis on prayer.
“The Church’s first steps in the world were interspersed with prayer,” the Pope said. The writings of the New Testament, and especially the Acts of the Apostles, give us “the image of an active Church on the move, yet which gathered in prayer finds the basis and impulse for missionary action.”
The Holy Father pointed out four essential characteristics of ecclesial life, drawn from St Luke’s account in the book of Acts: “listening to the Apostle’s teaching” which involves preaching and catechesis; the continual quest for fraternal communion; the “breaking of the bread,” the Eucharist, which is the Sacrament of Jesus’ presence among us; and prayer, “which is the space of dialogue with the Father through Christ in the Holy Spirit.”
Anything that arises outside of those “coordinates,” the Pope warned, “is deprived of a foundation… deprived of ecclesiality.” When these four characteristics are present, however, it is a guarantee of the Holy Spirit.
Pope Francis said that reading the Acts of the Apostles, “we then discover what a powerful driving force of evangelization the prayer gatherings can be.” In prayer, he explained, we experience Christ’s presence among us “and are touched by the Spirit.”
Making Jesus present
The Pope quotes the Catechism: “The Holy Spirit … keeps the memory of Christ alive in his Church at prayer, also leads her toward the fullness of truth and inspires new formulations expressing the unfathomable mystery of Christ at work in his Church’s life, sacraments, and mission.” This, Pope Francis explained, “is the Spirit’s work in the Church: making us remember Jesus.”
He insisted, however, that this is not simply a question of recalling facts. Instead, “Christians, walking on the paths of mission, remember Jesus while they make Him present once more; and from Him, from His Spirit, they receive the ‘push’ to go, to proclaim, to serve.”
Love, the mystical root
Prayer, the Pope said, “immerses” Christians in God’s love for each and every person and provides the missionary impulse to preach the Gospel to every human person. “God is God for everyone,” the Pope said, “and in Jesus every wall of separation has definitively crumbled.”
The exchange of love – God’s love for us, and the love He asks in return – is “the mystical root of the believer’s entire life,” Pope Francis said. And, both for the early Christians and for Christians today, prayer enables us to live that experience. Through prayer, the Pope continued, every Christian can make his own the words of St Paul: “the life I now live in the flesh I live by faith in the Son of God, who loved me and gave himself for me.”
Pope Francis said it is “only in the silence of adoration” that “we experience the full truth of these words… And this prayer is the living flame of the Spirit that gives strength to witness and mission.”
Wednesday, 25 November, marks the International Day for the Elimination of Violence against Women, which seeks to raise awareness of what the UN calls a “shadow pandemic”.
The Spanish NGO Manos Unidas (“Hands United”) joined its voice to those of many others to decry the situation in which countless women find themselves.
“Societies cannot remain indifferent to abuse and violence,” according to Ricardo Loy, the Secretary General of the Catholic organization. “We cannot abide that 30% of the world’s women and girls live in fear of violence, of speaking out, or of the reactions of those around them… And all this in the face of widespread apathy from most of society.”
According to the World Health Organization, around one third of all women in a relationship have been subjected to physical and/or sexual violence by their partner.
UN Women adds that domestic violence shot up by 30% in many countries during widespread lockdowns earlier this year put in place due to the Covid-19 pandemic.
However, a recent study says data from 30 countries indicates that only 1% of abused women have ever sought professional help.
Back in 2013, the WHO called violence against women “a global health problem of epidemic proportions.”
Listen to our report
Excluded and invisible
Mr. Loy said Manos Unidas finds itself working on various fronts in developing nations because violence is not limited to the physical kind nor only to the household.
Education carried out by the NGO, he pointed out, “aims to deal with those religious or cultural customs that physically harm women, or make them invisible and exclude them.”
Raising awareness
One Manos Unidas partner offered an example from a project in Sierra Leone, where women and girls are subdued into silence and economic privation, since violence is widespread.
Fr. Peter Konteh, director of Caritas Freetown, said they are so often subjected to rape that the Prime Minister declared the situation a national emergency in 2018. “He even set up a police unit to deal with rape cases, especially against children.”
Killing a culture of silence
Thanks to the help of Manos Unidas, Fr. Konteh said the local Caritas outfit was able to make inroads in combatting the culture of silence, which kept victims from going to the authorities.
Now, he noted, “women, girls, and families are willing to talk openly about abuse, and the guilty parties are brought to justice.”
Fr. Konteh said the projects biggest success was making many people in Sierra Leone aware of the horrors of violence against women.
“One great victory,” he said, “is knowing that the project is warning ‘potential abusers’ and thus protecting women and girls from further abuse.”
The Provisional Agreement between the Holy See and the People’s Republic of China is bearing fruit. A new bishop, the third since the Agreement was signed in September 2018, was appointed in communion with the Successor of Peter and ordained. The news was confirmed by the Director of the Holy See Press Office, Matteo Bruni.
“I can confirm that the Reverend Thomas Chen Tianhao is the third bishop appointed and ordained within the framework of the Provisional Agreement between the Holy See and the People’s Republic of China on the appointment of bishops,” he said, in response to questions by journalists.
Bruni also added that “certainly other episcopal consecrations are expected in the future because various processes for new episcopal appointments are underway.”
Upon its expiration date at the end of September, the Provisional Agreement was extended for two more years. It does not directly concern diplomatic relations between the Holy See and China, nor the legal status of the Chinese Catholic Church or relations between the clergy and the authorities of the country. The Provisional Agreement concerns exclusively the process of nomination of bishops: an essential issue for the life of the Church and for the communion of the pastors of the Chinese Catholic Church with the Bishop of Rome and the bishops of the world.
The objective of the Provisional Agreement has always been genuinely pastoral: its purpose is to allow the Catholic faithful to have bishops who are in full communion with the Successor of Peter and at the same time are recognized by the authorities of the People’s Republic of China.
