Daily archives: June 17th, 2016

FINTS EVENING HIGHLIGHTS (17 Jun 2016)

China will roll out seven major reform measures to further make the RMB convertible under capital accounts: PBOC Lu Lei The Shenzhen stock exchange will strengthen the disclosure of GEM “framework agreements” The RMB real…


Shanghai-Hong Kong Stock Connect (17 Jun 2016)

Northbound stock trade sees a net fund inflow of 1.16 billion yuan The Shanghai – Hong Kong Stock Connect saw a net fund inflow of 1.16 billion yuan for northbound trade on Friday. The Shanghai…


China soon to publish rating results for trust industry

China Trustee Association (CTA), a self-regulatory organization of the country’s trust industry, will soon publish its ratings for trust companies, China Securities Journal reported on Friday. Citing its sources within trust companies, the paper said…


Suzhou undergoes consecutive price decline in existing home market

The average price of existing homes in Suzhou has tapered off amid the decrease in sales for 3 consecutive months, market data showed. According to Lianjia Real Estate, 17,000 pre-owned houses in Suzhou were sold…


China Stock Market Roundup (17 Jun 2016)

China’s stock market closed higher on Friday, tracking a broader gain in Asian markets. By the close, the Shanghai Composite Index rose 0.43%, at 2,885.11 points, while the Shenzhen Component Index was 0.67% higher to…


Online gambling creeping into WeChat groups

Online gambling, theoretically illegal in China, has silently but surely been creeping into WeChat’s chat groups, according to recent police crackdowns and media reports. One of the newest forms of WeChat-based online gambling occur in…


Uber reportedly gains profit in all developed markets

Travis Kalanick, co-founder and CEO of Uber, recently said that Uber is now profiting in all its developed markets including North America, Australia, Europe and the Middle East, accounting for “all general and administrative costs”…


China’s Postal Savings Bank to file Hong Kong IPO applications in next two weeks

The Postal Savings Bank of China, the sixth largest commercial bank in the country, is preparing to press ahead with its IPO possibly worth at over $7 billion, in what could turn out to be…


FINTS LUNCH TRAY (17 Jun 2016)

Outstanding amount of margin financing in two exchanges as of June 16 decreased 477 million yuan to 836.261 billion yuan PBOC will inject 40 billion yuan into the financial system via its seven-day reverse repurchase…


Increased collaboration between banks and fintechs in 2015

Collaboration between traditional financial institutions and fintech firms have soared recently, as evident in the impressive 138% y-o-y increase in 2015 investment into fintechs planning to join hands with the industry globally. Similarly, total global…


A quarter of Chinese expected to shop online transnationally by 2020

One in four Chinese are expected to make overseas purchases online by 2020 as a result of better prices and higher living standards, according to eMarketer, a digital research firm. In China, the number of…


FINTS MORNING BRIEF (17 Jun 2016)

Tier management of the New Third Board (a national share transfer system for small-and medium-sized enterprises) is set to launch on June 27. Around 900 companies are expected to be included in innovation tier Securities…