Daily archives: June 20th, 2016

FINTS EVENING HIGHLIGHTS (20 Jun 2016)

China issued the implementing scheme for the country’s energy equipment A Chinese supercomputer Sunway TaihuLight, developed by China’s National Research Center of Parallel Computer Engineering & Technology, topped a list of the world’s fastest computers…


Shanghai-Hong Kong Stock Connect (20 Jun 2016)

Northbound stock trade sees a net fund inflow of 296 million yuan The Shanghai – Hong Kong Stock Connect saw a net fund inflow of 296 million yuan for northbound trade on Monday. The Shanghai…


China approves IPO at much slower pace

China’s securities regulator has been reviewing IPO applications submitted by companies at a much slower pace recently, Securities Daily reported, citing people close to the matter. “Even though the review process for IPO applications has…


China’s home prices rise mildly in May

China’s real estate sector saw a moderate recovery in May, with fewer cities among the tracked 70 large and medium-sized cities reporting an increase in new home prices on a monthly basis, according to a…


Ant Financial looks to buy stake in Thailand’s Ascend Money

Ant Financial Services Group, Alibaba’s financial services affiliate and controlled by Alibaba’s founder Jack Ma, plans to buy a 20% stake in Ascend Money, a Thailand-based online payment provider, according to a statement on China’s…


China Stock Market Roundup (20 Jun 2016)

China’s stock market closed mixed on Monday, as main indexes killed time in a range -bound session. By the close, the Shanghai Composite Index rose 0.13%, at 2,888.81 points, while the Shenzhen Component Index was…


Shenzhen drones’ industry sees 20+ billion yuan in annual turnover

Shenzhen has become a global hub for drones, encompassing 70% of the world’s market for small sized drones and containing over 300 manufacturers with an annual turnover of 20 billion yuan, says Yang Jincai, director…


Apple continues selling iPhone 6 series smartphones in China amid IP outcome

The Beijing Intellectual Property Bureau adjudicated that Apple’s iPhone 6 and iPhone 6 Plus have infringed upon the design patent of the 100C smartphone, a product of Baili, a Shenzhen-based Chinese device maker. Apple immediately…


FINTS LUNCH TRAY (20 Jun 2016)

A magazine affiliated with PBOC said in an article that increasingly two-way fluctuation of RMB exchange rate is inevitable The CFETS RMB exchange rate index on June 17 stood at 95.82, down 0.19% from a…


China to better regulate back-door listing activity

China’s securities regulator will tighten rules and regulations governing major asset restructuring by the country’s listed companies to better regulate back-door listings and promote a rational recovery of the market valuation system. The rules are…


Australia taxes foreign property buyers as Chinese crowd out locals

Sydney is rolling out new taxes on properties purchased by foreigners, amid a huge spike in property investments by predominantly Chinese investors in recent years and crowding out Australian buyers. Specifically, the tax proposed is…


Vanke’s 45.6 billion yuan share-sale plan objected by China Resources

Vanke’s 45.6 billion yuan plan to buy assets from Shenzhen Metro by issuing new shares failed to win support from China Resources, the developer’s second-largest shareholder, who said the proposal didn’t get enough votes from…


920 firms listed in innovation-tier of New Third Board

The list of firms selected into the “innovation level” of the“New Third Board” (NTB) was announced on Saturday. 920 companies are included into the final list before the tier management mechanism of the NTB takes…


FINTS MORNING BRIEF (20 Jun 2016)

The China Securities Regulatory Committee halts raising supporting funds to replenish liquidity in the process of restructuring 20.53-billion-yuan worth of restricted shares will become tradable this week 920 companies have been selected into innovation tier,…