China Unicom announced today the establishment of a big data unit in its latest effort to seek new growth as traditional business shrinks. The new subsidiary will make use of the telco’s advantage in cross-industry…
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China Unicom, China UnionPay set up big data unit
China Construction Bank Partners IBM for Blockchain ‘Bancassurance’ Solution
China Construction Bank, the world’s second-largest bank by market capitalization, is working with IBM to develop and launch a blockchain-enabled bancassurance platform for its retail and commercial banking arm in Hong Kong. A ‘bancassurance ……
Calls for a freer yuan from inner circle of China’s central bank
China could be heading towards a free-floating currency after a group of economists – including officials from the central bank – suggested the time was ripe for such a move. The comments were made in…
China’s robot revolution may affect developing countries, says World Bank
China is rapidly replacing factory workers with machines and will likely have the highest number of industrial robots in the world by next year, according to a new World Bank report. The fast pace of…
China’s Banks Cannot Achieve Financial Inclusion Alone, Think Tank Chief Says
(Beijing) — To achieve financial inclusion in China, a competitive and sustainable microloan market is more important than simply offering loans at lower rates or to provide lending to borrowers shunned by banks, the head…
Hong Kong ‘falling behind’ in race to build up automated financial adviser platforms
Operators of automated, algorithm-driven financial planning services, or so-called robo-advisers, in Hong Kong need to significantly step up their game if they are to compete with Chinese and US institutions, according to Freeman Tsang, head…
US commerce secretary visits Beijing ahead of Trump trip
BEIJING — U.S. Commerce Secretary Wilbur Ross says Washington is hoping for concrete progress during President Donald Trump’s planned trip to China amid rising trade tensions. Ross met Monday with Chinese Premier Li Keqiang, the…
China’s Property Developers Drag Hang Seng Index Lower
Hong Kong’s Hang Seng Index was dragged down 1% today, with Chinese property developer stocks among the worst performers after new property sale restrictions were introduced in eight cities across China in an effort to…
China property developers dip on new sales restrictions
Hong Kong-listed developers saw share prices drop on Monday as investors reacted to new property sales restrictions imposed across eight major Chinese cities in response to rising house prices. The cities of Changsha, Chongqing, Guiyang,…
China, HK stocks fall on property curbs, slowdown fears
SHANGHAI, Sept 25 (Reuters) – China and Hong Kong shares fell on Monday morning, led by property stocks after some cities imposed new housing controls to hose down an overheated market. Investor sentiment was also…
China stocks sag on property curbs, slowdown fears
SHANGHAI, Sept 25 (Reuters) – China stocks fell on Monday, as developers slumped after a new round of government curbs to rein in the heated housing market. The blue-chip CSI300 index fell 0.5 percent, to…
Shares in Chinese property developers are getting hammered
“The recent success of policymakers to reign in property price growth amongst China’s larger cities look set to extend to third-tier cities,” he wrote in a note released last month. “Mortgage lending has advanced around…
China Unicom sets up big data company
BEIJING, Sept. 25 (Xinhua) — China Unicom announced Monday the establishment of a big data unit in its latest effort to seek new growth as traditional business shrinks. The new subsidiary will make full use…
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