The innovative and entrepreneurial fintech industry is scrambling to retool credit operations to comply with harsher regulation handed down by Beijing, and may bounce back stronger than ever next year … ( read original story…
FINANCE
Beijing steps up efforts of further opening up
Beijing received approval from the State Council in September to build a comprehensive demonstration zone for further opening up the service sector and a pilot free trade zone. Since then, it has … ( read…
Next China: Ant Looks in the Mirror
Ant Group Chairman Eric Jing had a humble message to deliver this week: we’re ready to change. Addressing the 4th China Internet Finance Forum a month after regulators halted the fintech giant’s $35 … (…
Hong Kong and China stocks drop as Covid-19 cases, US-China friction rise again
The Hang Seng Index declined 0.5 per cent to 26,545.96 in early trading. The Shanghai Composite Index, which recorded its biggest gain in more than two weeks on Thursday, dipped 0.1 per cent to 3,400.…
China’s economic impact in the Arab world has soared since the Arab Spring but jobs haven’t
As 300 million young Arabs enter the workforce over the next twenty years, the region faces a jobs crunch that will add new stresses to the region’s many fault lines. ( read original story …)
UPDATE 1-China regulator approves opening of fifth nationwide bad loan bank
China’s banking and insurance regulator said on Thursday it has approved the opening of China Galaxy Asset Management Co., Ltd, the fifth asset management company in the country that will mainly deal … ( read…
China regulator approves opening of fifth nationwide bad loan bank
China’s banking and insurance regulator said on Thursday it has approved the opening of China Galaxy Asset Management Co., Ltd, the fifth asset management company that mainly deals with bad loans and … ( read…
China to Provide Financial Support to Key Foreign Companies
China’s government said it will provide financial support to some foreign companies to help them offset the impact of the pandemic and resolve funding difficulties, part of its efforts to improve the … ( read…
China’s blue-chip index extends gains on healthcare, financials boost
China’s blue-chip index ended higher for the fourth straight session on Thursday, powered by healthcare, consumer staples and financials sectors, on investor optimism over swift recovery in the … ( read original story …)
China says to share lunar samples with other countries
China will share data and samples from the moon obtained by its Chang’e 5 probe on the basis of international conventions though “unfortunate” U.S. restrictions on cooperation might prevent it getting … ( read original…
China’s finance ministry to issue preferential tax policies for chip, software sectors
China’s Ministry of Finance announced on Thursday it would issue preferential tax policies for semiconductor and software industries. (Reporting by Josh Horwitz and Lusha Zhang; Editing by Jacqueline … ( read original story …)
How one think tank is helping step up green finance initiatives in China
China has made headlines for green finance efforts toward an “ecological civilization” to address development and environmental objectives. ( read original story …)
China’s Luckin Coffee to pay $180 million fine in fraud case
China’s Luckin Coffee has agreed to pay a $180 million penalty to settle accounting fraud charges, the Securities and Exchange Commission says. The SEC charged the company with … ( read original story …)
