Hundreds of investors protested outside the China Securities Regulatory Commission on Monday, claiming that the Fanya Metal Exchange in Kunming, Yunnan province had defrauded them of as much as RMB45 billion (US$7 billion), Reuters reported. Demand for the 14 minor and rare metals traded on the exchange has been falling this year, prompting some investors […]
Category: Business Practice
The head of the Hong Kong stock exchange, Charles Li, said it was impossible “to recall specific aspects” of a program at JPMorgan that hired the children of China’s elite to foster better connections with regulators following The Wall Street Journal’s publication of emails demonstrating his involvement therein while at the company, The Financial Times […]
Big data, big brothers
The China Securities Regulatory Commission levied fines totaling RMB240 million (US$37.68 million) against five mainland brokerages for “insufficient inspection and understanding of clients’ identity,” South China Morning Post reported, citing an announcement from the regulator. The measures continue a crackdown on “errant” financial institutions the commission has blamed for the mainland stock market’s collapse. Four of […]
Google faces serious challenges – and not all of them from regulators – as CEO Sundar Pichai seeks to return to the mainland market after five years’ absence through its Google Play app store for the Android mobile operating system, Reuters reported. Andy Tian, CEO Chinese app developer Asia Innovations and former Google executive, said Google had […]