The Shanghai Composite Index dropped 1.6% to close at 4,217.08 Monday while Hong Kong’s Hang Seng Index fell 2% and the CSI 300 index slid 1.6%, Bloomberg reported. China’s securities regulator announced measures on Friday to clamp down on the use of shadow financing for equity purchases and increase shares available for short sellers. The […]
Category: Banking & Finance
Sustainable finance
The People’s Bank of China cut domestic banks’ reserve requirement ratio by 1% on Sunday, allowing the banks to lend more of their funds to businesses at a scale unseen since the depths of the global financial crisis in November of 2008, The Financial Times reported. Beijing has already cut benchmark interest rates twice and […]
Beijing has suspended bank-technology rules that included requirements for firms in China turn over proprietary source code and encryption keys, The Wall Street Journal reported, citing an official notice issued jointly by China Banking Regulatory Commission and the Ministry of Industry Information Technology. Business groups from the US, Japan and Europe said foreign tech companies […]
Peer-to-peer lender Lufax recently completed a US$485 million round of funding pushes the value of the company to nearly US$10 billion, The Wall Street Journal reported, citing unnamed sources. BlackPine Private Equity Partners, a five-year-old firm focused on China and countries nearby, is providing the bulk of the funding, people familiar with the matter said. […]