The Beijing municipal government will start providing financial subsidies to kindergartens this year in efforts to improve services without raising fees. The municipal government said Wednesday that it would provide 1,000 yuan (154 US dollars)…
Tagged By banking
Ant Financial drops MoneyGram deal as US approval fails
BEIJING (AFP) – Ant Financial, an affiliate of Chinese internet titan Alibaba, has been forced to abandon a $1.2 billion deal to buy US remittances firm MoneyGram after failing to get approval from regulators in…
China tightens bond trading rules in deleveraging campaign: Sources
The rules, jointly issued by the People’s Bank of China and China’s banking, securities and insurance regulators, come as Beijing launches a series of co-ordinated initiatives across government agencies designed to reduce leverage in the…
Apple is China’s top mobile brand (AAPL)
To be the first to know, please click here. While iOS may not be the leading OS in China, Apple is China’s leading device manufacturer and accounts for the largest share of monthly active devices…
Migrant worker evictions tear at Beijing’s backbone
Lin Huiqing moved to Beijing to look for work when his children were still in diapers. For the last eighteen years, he has seen his family just once a year, the rest spent doing the…
China Tightens Regulation Over Mobile Payment Apps — What’s Next For Tencent and Ant Financial?
China is quickly hurtling towards a cashless society, thanks largely to digital payment services operated by web giant Tencent and Alibaba affiliate Ant Financial. But going into 2018, the companies’ days of easy growth might…
U.S. blocks MoneyGram sale to China’s Ant Financial on national security concerns
Ant Financial said it paid MoneyGram a $30 million termination fee for the deal’s collapse. Reporting by Greg Roumeliotis in New York; Additional reporting by Nikhil Subba and Vibhuti Sharma in Bengaluru, Philip Wen in…
Beijing to build $2 billion research park as China races to world dominance in AI
Beijing announced plans to build a $2.12 billion AI research park Wednesday. With spots for 400 enterprises, the park may help China towards its goal of dominating the global AI market by 2025. Beijing is…
China’s growth objectives clash with financial stability goal: IMF
Sources have told Reuters that China is likely to keep this year’s GDP growth target of “around 6.5 percent” in 2018 even as Beijing steps up a campaign, now in its second year, to control…
Get smarter – tellers must adapt as Chinese customers embrace digital banking services
“I see less service counters but more machines instead now,” she said. The branch she visits is one of the Beijing-based bank’s 13,000 branches – more than 80 per cent of its total network in…
China’s Ant Financial drops MoneyGram deal as US approval fails
Ant Financial, an affiliate of Chinese internet titan Alibaba, has been forced to abandon a $1.2 billion deal to buy US remittances firm MoneyGram after failing to get approval from regulators in Washington. The decision…
US blocks sale of Moneygram to China’s Ant Financial
The US has blocked the $1.2bn (£880m) sale of money transfer firm Moneygram to China’s Ant Financial, the digital payments arm of Alibaba. It is the highest profile Chinese deal to be rejected by Washington…
China Seen Raising Money Market Rates Three Times This Year
China’s central bank will make modest increases in money-market rates in 2018 as it aims to keep up the pressure on deleveraging and prevent too much divergence with U.S. policy, according to a Bloomberg survey.…
