Daily archives: June 8th, 2016

FINTS EVENING HIGHLIGHTS (8 Jun 2016)

*CCP12, the global central counterparty association, held its founding conference in Shanghai today *The CSRC said it will issue relevant policies and measures in a timely and accurate manner to stabilize market expectations * The…


Shanghai-Hong Kong Stock Connect (8 Jun 2016)

Northbound stock trade sees a net fund inflow of 243 million yuan The Shanghai – Hong Kong Stock Connect saw a net fund inflow of 243 million yuan for northbound trade on Wednesday. The Shanghai…


China likely to lift refined oil prices for 4th time in 2016 amid global crude soar

China is expected to raise domestic prices of processed oil products for the fourth time in 2016, given the persistent rise of international crude oil prices, according to the Beijing Morning Post on June 8….


Number of Gaokao examinees hits record low

9.4 million examinees are taking this year’s Gaokao, or China’s national college entrance examination on Jun 7 and Jun 8, down 20,000 from 2015 and maintaining for the seventh consecutive year at between 9 million…


China opens its bank card clearing market to foreign companies

China will allow foreign payment card companies like Visa and MasterCard to apply for operations in the country under rules issued on June 7. PBOC has eased the curbs over bank card clearing business yesterday,…


China Stock Market Roundup (8 Jun 2016)

China’s stock market closed down on Wednesday as investors kept a wait-and-see attitude ahead of a three-day Dragon-boat festival. By the close, the Shanghai Composite Index dropped 0.3%, to 2,927.16 points, while the Shenzhen Component…


China’s May exports rise 1.2% YoY, imports climb 5.1%

China’s exports in May rose 1.2% from a year earlier in yuan-denominated terms, while imports climbed 5.1% year on year, customs data showed on Wednesday. In May, the country was left with a trade surplus…


China to grant US investors 250-billion-yuan investment quota

Yi Gang, deputy governor of the People’s Bank of China, stated at a press conference of the annual Sino-US Strategic and Economic Dialogue on Jun 7 that China agreed to grant US investors a 250…


Urban China entering mobile payment era

Major Chinese cities are entering a mobile payment era with the world’s largest e-payment market and the fastest growth of mobile payments, according to foreign media. More than one third of China’s smartphone subscribers are…


FINTS LUNCH TRAY (8 Jun 2016)

*Some key announcements in the 8th round U.S.-China Strategic and Economic Dialogue: China committed to continue market-oriented exchange rate reform, allowing for two-way flexibility of the RMB, and stressed that there is no basis for…


Continental will build new R&D center in Chongqing

Continental AG, the world’s fourth-largest tire manufacturer, announced on June 6 at an automotive forum held in Chongqing that it will establish a new research and development center in the city. The tire maker said…


Baidu, Pacific Insurance establish joint venture in online car insurance business

Chinese internet search giant Baidu is gearing up for expansion into the country’s burgeoning online insurance market by forming an online car insurance company with China Pacific Property Insurance, a subsidiary of Hong Kong-listed China…


FINTS MORNING BRIEF (8 Jun 2016)

*China securities regulator vetoed a takeover application submitted by Baofeng Group (300431.SZ), an internet-based information service provider, for 60% stake in a screen culture company *China is willing to deepen economic and trade cooperation with…