China stocks ended higher on Friday on gains for financial firms, following Beijing’s stamp duty cut proposal, though they post weekly losses amid renewed worries over Sino-U.S. tensions.
Tagged By banking
Alibaba’s Ant Secures Regulatory Approval For Consumer Finance Firm In China
Alibaba Group Holding Ltd (NYSE: BABA)-backed Ant Group has secured a key China Banking and Insurance Regulatory Commission approval to operate a consumer finance company, CNBC reported on Thursday.
Ant faces dent in profitability with new consumer finance unit
Ant Group’s most lucrative business of consumer lending is likely to become less profitable as the financial juggernaut emerges from a six-month regulatory crackdown aimed at curbing its influence..
Beijing’s jawboning sets yuan on track for biggest weekly loss in four months
China’s yuan barely moved against the dollar on Friday but was set for its biggest weekly loss in at least four months following a string of …
China greenlights Ant Group spinoff of consumer finance business
Chinese regulators gave their approval Thursday to Jack Ma’s Ant Group to start operating a consumer finance unit after months of pressure to adopt more comprehensive oversight and obtain necessary …
Jack Ma’s Ant Group receives consumer finance licence
Chinese regulators approved Jack Ma’s Ant Group to begin operating a new consumer finance company, in the first concrete sign of an easing of tensions with Beijing after Ant agreed to a “rectification …
Consumer finance firm of Ant Group approved for business
China on Thursday approved the opening of a consumer finance company of Ant Group a major financial services technology provider in …
China’s yuan slips against US dollar after Beijing taps financial tools to cool exchange rate
China unleashed tools from its foreign exchange arsenal this week to tame the yuan’s rise against the US dollar, but economists say Beijing faces an uphill battle long term.
China Development Bank sells 2 bln U.S. dollar onshore bonds
The China Development Bank (CDB), one of the country’s policy banks, issued 2 billion U.S. dollars in onshore bonds on Thursday, its first such USD-denominated bond issuance for six years. The …
Beijing to Distribute $6.3M in Digital Yuan to Its Citizens
PBoC and Beijing have announced a new digital yuan testing. Beijing plans to distribute $6.3 million worth of digital yuan to its citizens via red envelopes. The Deadline for citizens to register for …
China Allows Ant to Start Consumer Finance Unit Amid Overhaul
China is allowing Jack Ma’s Ant Group Co. to start operations at its consumer finance company, the first signs of progress after regulatory crackdowns that torpedoed the fintech giant’s record listing …
Ant Group consumer finance unit in Chongqing wins operating approval
Ant Group’s consumer finance unit has won approval to begin operating in Chongqing city, the local banking watchdog said on Thursday.
Huarong Peers Tell Beijing They’re Worried About Dollar Funding
Two of China’s largest bad-debt managers have told the banking regulator they’re concerned about losing access to the dollar bond market in the wake of turmoil at China Huarong Asset Management Co., …
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