Chinese shares rose on Tuesday, led by gains in blue-chip financial and material companies, as investors bet more on a swift economic recovery from the pandemic. HK->Shanghai Connect daily quota used … ( read original…
FINANCE
Beijing puts Ant on a shorter leash
Days ahead of the company’s record-setting $34 bln IPO, founder Jack Ma was hauled in by regulators for a chat. Newly unveiled rules also would treat tech middlemen more like banks. It’s the clearest ……
College Board to sever financial ties with China after Blackburn letter
College Board, the entity responsible for developing SAT and AP tests, will sever financial ties with the Chinese Confucius Institute Headquarters (Hanban) at the end of … ( read original story …)
Fin or tech? China’s Ant, biggest-ever IPO, says it’s a tech firm not a bank
A spinoff from billionaire Jack Ma’s Alibaba Group, Ant presents itself as a technology company, while financial regulators suggest the firm remains under their purview. ( read original story …)
The growing U.S. deficit raises questions about funding as China cuts U.S. debt holdings
The U.S. deficit is burgeoning and it’s set to grow much bigger with a planned second stimulus package to beat the pandemic fallout. ( read original story …)
Watchdogs hold talks with Ant as China releases draft online lending rules
China’s central bank and three financial regulators held talks with Ant Group’s top executives and its founder Jack Ma on Monday as Beijing published new draft rules for online micro-lending. Ant, … ( read original…
China issues draft rules to regulate online micro-lending business
China’s central bank and its banking and insurance regulator issued draft rules on Monday for online micro-lending, stipulating that lenders offering loans across different regions should have … ( read original story …)
The Quad yet to face consequences of China’s economic growth
China alliance in the making, but ministerial talks held last month in Japan show Australia still confronts policy issues. ( read original story …)
China’s sovereign digital currency pilot in ‘early stage’ as transactions hit US$300 million
The central bank’s digital yuan is accelerating the world’s second-biggest economy’s journey towards a cashless society by increasing the number of consumers paying for good … ( read original story …)
China must control financial risk as its markets open wider, regulatory body says
China must safeguard against financial risk as it prepares to open its markets wider to private and foreign investors, a regulatory body chaired by the country’s top economic adviser said on Saturday. ( read original…
China State Banks Plan Curbs on Metals, Forex Trades if U.S. Election Fuels Volatility
BEIJING/SHANGHAI (Reuters) – Two major state-owned Chinese banks warned on Monday that they could restrict trading of precious metals and foreign exchange products if this week’s U.S. presidential … ( read original story …)
Chinese investment bank CICC jumps 33% in its Shanghai debut
China International Capital Corp surged 33% in its debut on the Shanghai stock exchange on Monday as investors bet the country’s fifth-biggest securities firm will benefit from a government push to … ( read original…
China’s biggest investment bank CICC in tame stock market debut that may signal shifting focus of traders
China International Capital Corporation (CICC), the country’s biggest investment bank, saw its share price fall back after shooting up to the daily maximum briefly on its debut in Shanghai on … ( read original story…
