London-based bank HSBC has increased its holdings in its Chinese securities venture to 90%, giving the bank better purchase in the the Chinese economy, reports Bloomberg. Europe’s largest bank increased its stake in HSBC Qinghai Securities from 51% through the partial buyout of its partner Qinghai Financial Holdings, which will keep a 10% stake. The […]
Category: Markets
China has updated its audit secrecy laws in an attempt to halt almost 270 Chinese companies from delisting from US bourses, in a huge concession to US pressure, reports the Financial Times. The China Securities Regulatory Commission, Beijing’s top financial watchdog, said on Saturday it would change confidentiality laws that prevent its overseas-listed companies from […]
China’s services sector activity contracted at the quickest rate in two years last month as the increase in COVID-19 cases reduced mobility and dampened client demand, reports the South China Morning Post. The Caixin services purchasing managers’ index (PMI) dived to 42 in March from 50.2 in February, dropping below the 50-point mark that separates […]
Chinese state-owned oil giant CNOOC has received the go-ahead from China’s top securities regulator for a $5.5 billion domestic share sale after the firm posted record profits thanks to the global oil price jump, reports Caixin. Hong Kong-traded CNOOC plans to sell as many as 299 million new shares in an initial public offering in […]
The US securities regulator placed Chinese tech giant Baidu on a growing list of Chinese firms that face the threat of delisting from US stock exchanges due to Beijing withholding access to review their auditors’ work from US officials, reports Caixin. The US Securities and Exchange Commission’s (SEC) publication of the businesses’ names is required […]