The New Development Bank (NDB) backed by China and other BRICS nations launched in Shanghai on Tuesday, Reuters reported. The signing ceremony for the Brazil, Russia, India, China and South Africa-funded policy bank marked the end of a lengthy wait after its announcement in 2012 resulting from disagreements over funding, management and the location of […]
Category: Banking & Finance
The People’s Bank of China has announced stricter guidelines regulating online finance that clarify the division of responsibility among China’s many regulatory agencies, The Wall Street Journal reported, citing a statement posted to the central bank’s website. Under the new arrangements, the central bank will oversee online payments, the China Securities Regulatory Commission will oversee […]
The halting of all initial public offerings on mainland stock exchanges has left an opening for alternative financing firms to step in as Chinese companies face tighter liquidity restrictions, Reuters reported. Tim Dattels, managing partner of private equity firm TPG Capital, said the sharp run-up in share prices had previously made it harder for private equity […]
Lenders in China have shifted away from a drive to deleverage and toward “rescuing leverage with leverage” via innovative, opaque methods for loaning money to companies that need to buy their own shares on government orders to buoy already leveraged positions, South China Morning Post reported. Banks had lent between RMB4.5 trillion and RMB6.8 trillion (around […]
Financial information and software firm Hundsun Technologies (600570.SHA) has announced it will not allow users to create new accounts and will halt the addition of any funds to existing accounts on the company’s cloud-based HOMS platform, which links small institutions like hedge funds and online peer-to-peer lending operators with brokerages, The Wall Street Journal reported, citing […]