HONG KONG — Shares in China Merchants Bank and China Minsheng Banking were trading lower in Hong Kong on Wednesday following reports that Wu Xiaohui, chairman of China’s Anbang Insurance Group, the banks’ largest shareholder,…
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Detention of Anbang Insurance boss hits China banking shares
China Finance Online Reports First Quarter 2017 Unaudited Financial Results
Mr. Zhiwei Zhao, Chairman and CEO of China Finance Online, commented, “In the recent period, increased regulatory enforcement pressured a number of commodities exchanges to significantly reduce their commodity trading and eventually led to complete…
China Finance Online reports 1Q loss
BEIJING (AP) _ China Finance Online Co. (JRJC) on Wednesday reported a first-quarter loss of $11.6 million, after reporting a profit in the same period a year earlier. The Beijing-based company said it had a…
Detention of Anbang boss a milestone in financial industry crackdown, analysts say
The reported detention of Anbang Insurance chairman Wu Xiaohui could be a milestone in efforts to take on vested interests – many with connections to the political elite – in China’s financial sector, paving the…
BRIEF-China Finance Online Co Q1 revenue $8.7 million versus $30.7 million
June 14 China Finance Online Co Ltd: * China Finance Online reports first quarter 2017 unaudited financial results * Q1 revenue $8.7 million versus $30.7 million * China Finance Online Co Ltd – fully diluted…
China to set up pilot zones for green finance, cut red tape for industries
The State Council, China’s cabinet, Wednesday announced its decision to set up pilot zones for green finance to support its industrial upgrading and to further cut red tape. The pilot zones will be in Guangdong,…
Correction: Fitch Affirms China United Property Insurance at ‘A-‘; Outlook Stable
(The following statement was released by the rating agency) HONG KONG, June 14 (Fitch) This commentary replaces the version published on 2 June 2017 to update the name of China United Property Insurance Company Limited’s…
Beijing protesters in rare clash with police over school dispute
BEIJING About a hundred protesters clashed on Wednesday with police in downtown Beijing after authorities abruptly reassigned their children to a school in a rough neighborhood, a rare display of public anger in the Chinese…
China is developing hypersonic missiles for jet fighters that could strike targets at 4,000mph
In a major step towards developing hypersonic missiles for jet fighters, China has claimed that it has successfully tested new ramjet engine technology. China reported that two flight tests with the solid-fuel variable flow ramjet…
Mattel plays with digital toys to triple China business
Mattel Inc (MAT.O) expects to grow three to four times in the more than $31 billion toys and games market in China by 2020 through digitally connected toys, as it intensifies its efforts to take…
China central bank says slower M2 growth could be ‘new normal’, deleveraging to continue
BEIJING China’s bank lending was generally normal in May, while the slowdown in M2 money supply growth reflects deleveraging in the finance sector, the People’s Bank of China said on Wednesday following the release of…
China’s worrying habit of making business leaders disappear
Anbang Insurance Group owns the Waldorf Astoria in New York. Its chairman has reportedly been detained by Chinese authorities. A top executive suddenly dropping off the radar would be alarming for any company. But in…
China approves 9 Trump trademarks previously rejected
But that’s just procedural. Substantively, it’s impossible to say whether any of this is unusual.” China’s Trademark Office did not respond to requests for comment Wednesday. The new provisional approvals further shore up the president’s…
