A video showing four men who were forced to dance on the street wearing only their underwear because of their poor performance at work has been widely shared online in China. The men shown in…
Monthly Archives For May 2018
China curbs banks’ liquidity risks with new rule
The rule will take effect from July 1, with three news indicators introduced to gauge liquidity risks, according to the China Banking and Insurance Regulatory Commission. One of the three new gauges is the net…
Chinese smartphone giant Xiaomi’s Hong Kong IPO will launch in July
The Beijing-based company will go on a roadshow by the end of June … who doesn’t own any stakes in Xiaomi. A US$10 billion IPO, the biggest in the global pipeline for 2018, would hurtle…
Foxconn Unit Plans China’s Biggest IPO Since 2015
BEIJING—A unit of Taiwan’s contract electronics manufacturer Foxconn Technology Group said it plans to raise 27.1 billion yuan, or $4.25 billion, through an initial public offering in Shanghai, potentially marking China’s biggest IPO since 2015.…
NZ tourist visas for Chinese bank’s clients fast-tracked
More than half of some Bank of China clients who applied for a tourist visa had it approved within one business day in the past two years, after an agreement to fast-track them. Immigration New…
Foreign companies ready to enter financial market
They may prefer setting up joint ventures as a path to the core of the financial sector. The People’s Bank of China said that last year domestic payment institutions processed 169 trillion yuan (£19.6 trillion),…
NZ visas for Chinese bank’s clients fast-tracked
… introduced a streamlined visa process for the bank’s private banking or prestigious wealth management customers two years ago. It has since also signed a similar deal with China UnionPay for its Platinum or Diamond…
Canada still wants to work with China despite blocked Aecon takeover: Bains
On Wednesday, news broke that the federal government had blocked the $1.5 billion sale of Aecon to China’s CCCC International Holding Ltd., also known as CCCI, citing national security. Canada has been pursuing free trade…
Foxconn unit’s US$4.27 billion IPO sparks Chinese buying frenzy
Beijing has accelerated IPO approvals for technology companies, including those funded by foreign capital, as a way of bolstering the country’s technological innovations. Foxconn passed through an IPO review procedure by the China Securities Regulatory…
In Cambodia’s capital, Chinese buyers pump luxury property bubble
Five property showrooms Reuters visited in Phnom Penh … which he felt was more stable than China’s yuan, as well as the six percent annual rental return guaranteed by the Taiwanese developer building his 80…
China scolds U.S. for pulling invitation to major naval drill
China’s Defence Ministry expressed regret on Thursday after the United States withdrew an invitation to China to attend a major U.S.-hosted naval drill, saying that closing the door does not promote mutual trust and co-operation.…
Pakistan, China currency swap to promote bilateral trade: Says PBC
BEIJING: The People’s Bank of China, the country’s central bank, said Thursday it had extended a currency swap agreement with the State Bank of Pakistan. The swap is sized at 20 billion yuan (3.1 billion…
Is the day of reckoning coming for China’s corporate bond market?
The defaults continued in May. While the amounts are a drop in the bucket of the overall industry, analysts said defaults were set to grow this year and beyond as China’s central bank tightened up…
