Chinese President Xi Jinping’s speech at the Boao Forum appears to have gone down well with investors across Asia. Based on wire headlines from Reuters, Xi made all the right noises when it came to…
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Technology is Transforming China’s Consumer Finance Market, Lexin Tells LendIt Fintech USA
In the next five years, the financial industry will be revolutionized as customer service is handled almost completely by artificial intelligence, Lexin’s Chief Risk Officer Ryan Liu told LendIt Fintech USA in an address titled…
WSJ: China’s Ant Financial Plans $9 Billion Round of Fresh Financing
Jack Ma’s financial technology business Ant Financial plans to raise $9 billion in its latest round of funding, that could value the company at $150 billion, the Wall Street Journal reported on Tuesday, citing people…
China’s Ant ups fundraising target, valuation seen rising to $150 billion: sources
HONG KONG/SINGAPORE (Reuters) – China’s Ant Financial Services Group is in talks with investors to boost its fundraising target to at least $8 billion, which could see its valuation more than doubling to about $150…
Standard Bank works Chinese connections in Francophone West Africa
ABIDJAN (Reuters) – Standard Bank (SBKJ.J) will partner with its biggest shareholder Industrial and Commercial Bank of China (ICBC) (601398.SS) to capitalize on a Chinese investment drive into Ivory Coast and establish a regional hub…
China’s Ant Financial aims for $9 billion in new funding: WSJ
(Reuters) – Chinese billionaire Jack Ma’s online payments business Ant Financial now plans to raise $9 billion in its next planned round of funding, potentially valuing the company at $150 billion ahead of an expected…
China files trade complaint against US over steel tariffs
GENEVA — China has filed a World Trade Organization complaint challenging U.S. President Donald Trump’s tariff hike on imported steel and aluminum, the trade body said Tuesday. The tariff spat is one element of a…
HSBC to redouble efforts in China under new leadership
HSBC will seek to cut internal bureaucracy and expand investment in China’s southern region to the rest of the country, executives at the bank said, in the first hints of the strategy to be pursued…
China is said to be evaluating yuan devaluation as a tool in trade spat
China’s central bank didn’t immediately respond to a faxed request for comment. “It seems as if Beijing is showing the full extent of policies they could deploy in response to Trump’s protectionist rampage,” said Viraj…
People’s Bank of China Plans Wider Crackdown on Cryptocurrency
The People’s Bank of China (PBOC) is planning more draconian measures on domestic cryptocurrency operations, dashing hopes that the world’s second-largest economy would ease last year’s blanket ban on the asset class. // — Discuss…
China’s Xi promises to lower tariffs this year, open economy further
Xi also said China would raise the foreign ownership limit in the automobile sector “as soon as possible” and push previously announced measures to open the financial sector. “This year, we will considerably reduce auto…
Sperm bank in Beijing will only accept donors loyal to the ruling Communist Party
One of the largest sperm banks in Beijing has set loyalty to the Communist Party as a prerequisite for donors, in a sign that China’s increasing emphasis on ideological training is being extended to the…
China’s president promises to cut auto import tariff
But he mentioned themes that are key irritants in relations with Washington, repeating pledges to open China’s banking and finance industries to foreign ownership and to protect the intellectual property of foreign companies. Xi tried…
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