Chinese ride-hailing giant, Didi Chuxing, has denied multiple media reports that the Beijing municipal government is pursuing a proposal to invest in the company, putting it under state control, reports the South China Morning Post. “Foreign media’s claim about Beijing’s municipal government coordinating relevant companies to invest in Didi is untrue,” the company said in […]
Category: Markets
A new stock exchange will be created in Beijing as part of an attempt to support the development of Chinese small and medium-sized businesses and the country’s capital markets. China’s leader, Xi Jinping, told an international trade fair on Thursday that the new exchange will serve “innovation-orientated SMEs,” reports the Financial Times. The announcement is […]
China’s central bank will increase relending quotas by RMB 300 billion ($46.4 billion) to help banks provide loans to small and medium-sized companies and self-employed individuals, reports Caixin. The move is part of the central government’s wider measures to maintain the stability of market entities and employment, and support economic growth, according to a State […]
State-backed firms will take a sizeable stake in a key Ant Group company for the first time, which is likely to help revive the Chinese fintech giant’s initial public offering (IPO) but also see a loosening of the company’s grip on its stockpile of data collected from its over 1 billion users, reports Reuters. Under […]
China should shield against the dangers of falling property prices and a potential crisis if home values drop below mortgages, a prominent state-linked economist warned, reports Bloomberg. Li Yang, chairman of the National Institution for Finance & Development, said that some Chinese cities have already set a floor for property prices as well as price […]