The standing committee of China’s rubber-stamp National People’s Congress has officially endorsed a plan to allow mainland stock exchanges to vet and grant Chinese firms approval to list publicly, ending the gate-keeping role of the China Securities Regulatory Commission in initial public offerings, South China Morning Post reported. The transition is expected to begin on […]
Category: Banking & Finance
Anbang Insurance Group raised its stake in developer China Vanke to 7% before the latter’s Shenzhen-listed shares were halted pending a share sale and asset restructuring, Bloomberg reported, citing a filing to the Hong Kong stock exchange. The move inserts the insurer into the battle for control of Vanke, sparked when Baoneng Group displaced China […]
Guotai Junan International’s missing chairman and chief executive, Yim Fung, has reappeared after “assisting in certain investigations” carried out by mainland authorities, South China Morning Post reported, citing a statement from the company. Neither Yim nor the company was the subject of the investigation, the company said, without elaborating on the details of the probe.or […]
Chinese firms have already spent a record US$102 billion on outbound acquisitions in 2015 so far, Reuters reported, citing financial data from the companies involved. The growth of 46% over last year follows a 20% drop in 2014 and may bode well for the year ahead. “China is on the move, we are preparing for a […]
The China Foreign Exchange Trading System is having lenders test-run longer hours for onshore yuan trading, Bloomberg reported, citing unnamed sources. The new trading tests are being run from 9:30 am to 11:30 pm in Shanghai from December 23-30, whereas onshore trading currently ends at 4:30 pm local time. “China will likely extend the trading hours […]