China Economic ReviewThe value of shares traded in China on Wednesday was larger than the rest of Asia combined as the Shanghai stock exchange's benchmark index broke the 4,000 barrier, the Financial Times reported. The Shanghai stock exchange saw turnover of US$33.2 billion while the smaller Shenzhen bourse saw US$15.8 billion in trades. The combined total of […]
An agency to manage China's reserves of foreign exchange more flexibly could be up and running soon, the South China Morning Post reported. People's Bank of China governor Zhou Xiaochuan told the newspaper that the new agency is still in the preparation stage and may soon be officially set up. The new unit was first […]
China's national security fund said Thursday it is reducing its exposure to the country's stock market, the Wall Street Journal reported. "The market itself has been rallying too long. We are conservative. We have to be conservative by nature, so in that way we don't want to see the market crash," said Gao Xiqing, vice […]
Despite a general market slide, China CITIC Bank attracted a record US$181 billion in subscriptions to its A-share offering and US$38 billion in the H-share portion of its upcoming initial public offering, the Standard of Hong Kong reported. The tie-up was about 105 times more than the US$1.7 billion the bank expects to raise in […]
China's largest life insurer reported a 114% surge in net profits last year propelled by investments in bullish markets in Shanghai, Shenzhen and Hong Kong, the Standard reported. Profits at China Life jumped to US$2.58 billion last year with the profit contribution from non-insurance income making up 32.9% of the total, up from 18.5%. Income […]