Jack Ma, one of China’s richest men, criticized his country’s banking system during an event in Shanghai. Since then, the Chinese government has been more aware of its business than ever. For months … (…
Tagged By banking
Ant Group publishes ‘responsible finance rules’ to protect consumers amid heightened scrutiny from Chinese regulators
Ant Group’s move to publish responsible finance rules to make digital finance safer comes as the fintech giant makes plans to overhaul its sprawling business after authorities pulled its IPO in … ( read original…
Jack Ma’s finance lieutenant walks away in wake of China clampdown
Jack Ma’s finance lieutenant has walked away from Ant Group due to “personal reasons” as Beijing’s clampdown on the fintech giant intensifies. Simon Hu, who took the helm in 2019 having headed up the ……
China’s Gen Z investors have turned fund managers into social media stars
As China’s young adults come of age as investors, they’re bringing social media culture to the staid world of investing. ( read original story …)
U.S. Debt Rout Ignites Hunt for New Havens That Ends in China
An upstart contender to U.S. Treasuries has emerged in the wake of last month’s vicious debt rout.Chinese government bonds have defied the turbulence rocking peers from Australia to Europe, offering a … ( read original…
Hong Kong’s electoral overhaul will not block opposition as there are also patriots among pan-democrats, Beijing official says
It was passed with 2,895 votes, without a single vote against it and just one abstention, and drew the longest applause of the day from delegates in Beijing’s Great Hall … city’s status as an…
UBS ups stake in China securities joint venture to 67%
UBS has applied to buy out two minority investors in its China joint venture, boosting its stake in Beijing-based UBS Securities to 67%. The bank’s strong and long-standing relationship with the owner … ( read…
China’s Ant Group Issues Financial Self-Discipline Rules on Tighter Regulatory Oversight
As a reflection of regulators’ tough stance on financial risks, Guo Shuqing, head of the China Banking and Insurance Regulatory Commission, warned last week that bubble risk was a core issue facing … ( read…
Tencent Faces Broad China Clampdown on Fintech, Deals
Pony Ma’s Tencent Holdings Ltd. has been put on notice.Asia’s largest conglomerate was censured by China’s antitrust watchdog on Friday as Beijing expands a crackdown that began with Jack Ma’s online … ( read original…
China FDI up 34.2 per cent in US dollar terms in January-February
Foreign direct investment (FDI) in China, excluding the banking, securities and insurance sectors, stood at 176.76 billion yuan in January and February, up 31.5 per cent compared to the same period a … ( read…
China’s Ant publishes financial self-discipline rules amid tougher scrutiny
BEIJING (Reuters) – China’s Ant Group on Friday published a set of financial self-discipline rules amid the country’s tightened scrutiny on financial technology regulations. The publication of the … ( read original story …)
China’s antitrust regulators weigh levying record fine on Alibaba – WSJ
(Reuters) – China’s antitrust regulators are considering … a planned $37 billion IPO from Ant Group, Alibaba’s internet finance arm. The company has come under fire in the past from rivals … ( read original…
China provinces rush to address ‘hidden debt’
Including borrowing by LGFVs, China Chengxin International Credit Rating estimates the hidden debt at 43 trillion yuan ($6.46 trillion) by the end of 2019 — almost half the size of the economy. Some … (…
