Total new lending by banks in China rose sharply in June to reach RMB1.28 trillion as the broadest measure of the money supply, M2, grew 11.8% as China’s central bank loosened policy to support the country’s economy, Reuters reported, citing figures from the People’s Bank of China. Li Huiyong, an economist at Shenyin and Wanguo Securities, […]
Category: Banking & Finance
China’s gray market financing sector is under pressure as the China Securities Regulatory Commission investigates Hundsun (600570.SHA), a financial information firm controlled by Alibaba (BABA.NYSE) founder Jack Ma that links small institutions like hedge funds and online peer-to-peer lending operators with brokerages through its cloud-based HOMS platform, South China Morning Post reported. During the stock market’s recent […]
Shares in China Minsheng Bank (600016.SHA) closed down 3.09% on Tuesday ending with a share price of RMB9.71 after a major investor sold 262 million shares in the company, South China Morning Post reported. New Hope Investment and South Hope Industrial, both controlled by conglomerate New Hope Group, reduced holdings in the bank to below 5%–this despite […]
Precious few of the 300 listed Chinese firms that resumed trading on Tuesday were able to explain the reasoning behind their sudden suspension last week at the peak of a stock market rout that wiped out over US$3 trillion in market capitalization, South China Morning Post reported. Analysts viewed the sudden suspension last week of […]
The China International Payment System set to launch this year has become a scaled-back version of its former self that will only be used for cross-border yuan-denominated trade deals, rather than also including capital transactions, Reuters reported, citing two unnamed sources. The move could delay billions of dollars worth of transactions that would have gone […]