Chinese consumers tap the fintech app to pay bills, order in restaurants, and book appointments. Now it’s preparing for an IPO that could value it at $200 billion. ( read original story …)
Tagged By banking
China’s Guolian Securities to acquire Sinolink Securities
The announcement comes as privately run financial conglomerates such as Changsha Yongjin Group, which controls Sinolink, are under pressure to restructure, with Beijing tightening supervision of … ( read original story …)
China Zheshang Bank increases lending to private firms
China Zheshang Bank, one of the country’s major joint-stock commercial banks, saw its outstanding loans to private enterprises grow rapidly in the first half of the year. At the end of June, the … (…
China Development Bank boosts support for poverty relief
As of the end of August, the CDB had issued 1.5 trillion yuan (about 221.89 billion U.S. dollars) in loans to support poverty relief during the past five years, the lender said. Of the total,…
China wants 50 PLA soldiers to stay back at Pangong Tso bank. India says no: 10 Points
Baltistan by Pakistan and the aggression by the People’s Liberation Army in Ladakh are part of Beijing’s grand plan to secure and expand the China-Pakistan Economic Corridor (CPEC) … ( read original story …)
China’s economy remains resilient despite external risks, says Xi
China’s economy remains resilient and there are ample policy tools at Beijing’s disposal despite rising external risks, President Xi Jinping said in remarks published on Saturday. The world’s … ( read original story …)
Int’l financial institutions upbeat on China’s economic growth
Several foreign financial institutions have raised their forecasts of China’s economic growth for the rest of the year as the country’s key economic indicators point to strong recovery amid COVID-19 … ( read original story…
China to improve cross-border yuan policy to stabilise foreign investment and foreign trade -c.bank
BEIJING, Sept 18 (Reuters) – China will improve cross-border yuan policy to stabilise foreign investment and foreign trade, the central bank said on Friday. China will relax restrictions on use of … ( read original…
Beijing Capital Land: High Financial Leverage In The Spotlight
Beijing Capital Land’s 8M 2020 contracted sales only accounted for half of the company’s RMB80 billion FY 2020 target, implying that it could be challenging to meet the full-year target. ( read original story …)
China sounds keen to tame financial giants
The central bank’s new rules to curb reckless sprawl and systemic risk are ready to roll. Designed to stop another Tomorrow-like debacle, they may force influential conglomerates such as CITIC and … ( read original…
ByteDance says China will have to approve its U.S. TikTok deal
ByteDance’s proposal for U.S. software firm Oracle to become a technology partner in its TikTok app still needs approval from Chinese and U.S. officials, the company said on Thursday. The proposal … ( read original…
Wall Street Firms Struggle to Keep Up in China Mutual Fund Boom
From BlackRock Inc. to Vanguard Group, global asset managers have been dazzled by the promised riches of China’s $3.4 trillion mutual fund industry. However, they’re now learning just how fierce the … ( read original…
China Mobile: Financial Strength Amid Stock Price Fluctuation
China Mobile is the world’s largest mobile services provider. Revenues and profitability have been impacted by COVID-19. ( read original story …)
