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…
FINANCE
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…
CICC Lists on SSE Main Board Today, Aiming to Become a First-class International Investment Bank
China International Capital Corporation Limited (CICC, stock code: 03908.HK, 601995.SH) announces that it is successfully listed on the … ( read original story …)
Spending with China’s digital yuan around $300 million, PBOC says
More than 2 billion yuan ($299.07 million) has been spent using China’s new digital currency so far in 4 million separate transactions, Yi Gang, the governor of the People’s Bank of China (PBOC), said ……
UBS’s Ermotti Leaves Banking in Pandemic Drift
Few European banking bosses have survived this long since the global financial crisis. After nine years at the helm of UBS Group AG, the world’s biggest wealth manager, Sergio Ermotti will stand down … (…
China Presses Ahead With Smaller Import Fair Amid Pandemic
China is set to be the only major economy to grow this year after largely bringing the epidemic under control after it first emerged in the central city of Wuhan last year. The China International…
Hint of menace from China’s new routemap
The Communist Party’s Fifth Plenum – setting out China’s economic and strategic path until 2035 – has ramifications for the world that may ultimately matter as much as the outcome of the US election. (…
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