The new law brings Beijing closer in line with practices in developed countries but comes amid friction between China and some of its biggest trading partners. ( read original story …)
Tagged By banking
China Plans Online Payment Rules That May Hit Ant, Tencent
China proposed measures to curb market concentration in its online payment market, potentially dealing another blow to financial technology giant Ant Group Co. and its biggest rival Tencent Holdings … ( read original story …)
China plans tougher antitrust rules for non-bank payments industry
China’s central bank has proposed stepping up antitrust measures for companies in the non-bank payments industry, such as Ant Group’s Alipay and Tencent’s WeChat Pay. Under draft rules proposed on … ( read original story…
China proposes tougher anti-trust rules for non-bank payment industry
China’s central bank proposed stepping up anti-trust measures to rein in payment firms such as Ant Group’s Alipay and Tencent’s WeChat Pay, which dominate the non-bank payment industry. ( read original story …)
Kenya to save 27 billion shilling from China debt service suspension deal
Kenya has secured a debt repayment moratorium from China which will save it 27 billion shillings ($245.23 million) in the period to June, its finance minister said on Wednesday. ( read original story …)
Court specializing in finance proposed to be established in Beijing
A recent draft decision is recommending that a court specializing in hearing finance-related lawsuits be set up in Beijing. The draft decision on building the Beijing Financial Court was submitted to … ( read original…
China drafts rules for non-bank payment industry to rein in monopolistic behaviour
China’s central bank released drafted rules on non-bank payment institutions on Wednesday, stepping up anti-trust measures to rein in monopolistic behaviors of payment firms. BEIJING, Jan 20 (Reuters) … ( read original story …)
China’s Wide Income Gap Undercut Spending as Growth Recovers
China’s successful control of Covid-19 made it the only major economy to have grown last year, but wide income inequality and still weak consumer spending reflects an unbalanced recovery. ( read original story …)
Beijing steps up COVID-19 response amid most severe outbreak since March
The measures come amid what has become the country’s most severe COVID-19 outbreak since March 2020. It is also ahead of the key Chinese Lunar New Year holiday season in February, when hundreds of ……
UPDATE 1-China’s short-term money rates surge despite huge PBOC cash injection
China’s primary short-term money rates surged on Wednesday to the highest level since the early days of the coronavirus pandemic a year ago, driven by rising seasonal cash demand, despite the central … ( read…
China shares rise on c.bank’s liquidity boost; EV, healthcare stocks shine
China shares rose on Wednesday, led by gains in electric vehicle and healthcare stocks, as the central bank kept liquidity abundant to further support economic recovery from COVID-19. ( read original story …)
China’s Jack Ma emerges for first time since Ant crackdown
Billionaire founder of tech giants Alibaba and Ant Group had not been seen since regulators blocked Ant’s record IPO. ( read original story …)
TikTok for finance: ByteDance’s Douyin finds success in short videos about economics and wealth management
Amid declining growth in China’s short video industry, financial content is seeing rising popularity on Douyin, where 100 million people had engaged with such content by last November. ( read original story …)
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