Reuters reported that more than 30 countries are waiting to join the China-backed Asian Infrastructure Investment Bank (AIIB), adding to its 57 founding members, its president said on Friday. The AIIB, first proposed by President Xi Jinping less than two years ago, has become one of China’s biggest foreign policy successes. Despite the opposition of […]
Category: Banking & Finance
The stock exchanges in Shanghai and Shenzhen would be the ones to delist problematic listed companies under current regulations, the China Securities Regulatory Commission said on Friday, reported the South China Morning Post. Earlier this week, the CSRC had compiled a blacklist of 30 to 40 troubled firms and had been probing them with the […]
The China Insurance Regulatory Commission is preparing to reject plans by Anbang Insurance Group to take over Starwood Hotels & Resorts Worldwide, owner of Sheraton and Westin, Caixin reported, citing an unnamed source. The source claimed the regulator took a dim view of the Starwood deal as well as another bid by Anbang to buy […]
Hotelier Marriott International closed a deal with Starwood Hotels & Resorts on Monday with a last-minute bid to counter that of China’s Anbang Insurance Group, The Financial Times reported. The terms of the US$13.6 billion cash-and-stock deal were negotiated in Havana, where the chief executives of Marriott and Starwood were both accompanying US President Barack […]
State lender China Securities Finance Corp., which provides brokerages with loans for stock purchases, has resumed offering several short-term loans and cut the interest date for a longer-term one in a sign that regulators are moving to quietly encourage purchasing stocks on margin, The Wall Street Journal reported, citing the figures from the company’s website. […]