Daily archives: June 23rd, 2016

FINTS EVENING HIGHLIGHTS (23 Jun 2016)

China’s 4G network users has hit 530 million, more than that in the US and Europe combined, according to a vice minister from MIIT Poly Real Estate, China’s fifth-largest property developer, is jumping on the…


Shanghai-Hong Kong Stock Connect (23 Jun 2016)

Northbound stock trade sees a net fund inflow of 223 million yuan The Shanghai – Hong Kong Stock Connect saw a net fund inflow of 223 million yuan for northbound trade on Thursday. The Shanghai…


China’s traditional taxi companies urge fair operating environment

In a letter dated June 22 to China’s Ministry of Transport, Shanghai Dazhong Taxi & Car Leasing Co, a traditional local taxi company, called on the authorities to tackle unfair competition existing in the country’s…


Shenzhen Stock Exchange inquires Vanke on restructuring plan

In the wake of power struggles staged by the board, Vanke yesterday received an inquiry letter from Shenzhen Stock Exchange, requiring that the deadlocked company disclose information concerning three major aspects of the proposed acquisition…


Long term threats of Brexit still substantial

As the UK will hold a referendum shortly on June 23 to determine whether it will stay with or leave the EU, voices from all over the world echo an overwhelmingly cautious concern. Despite the…


China Stock Market Roundup (23 Jun 2016)

China’s stock market closed lower on Thursday, as investors kept a cautious tone ahead of a British vote on whether to remain in the European Union later today. By the close, the Shanghai Composite Index…


China vows to unveil business potential in private investment over ill-disposed surmise

China’s fiscal deficit taking into account extra-budgetary spending is expected to exceed 10% of its GDP in 2016, three times that of the government’s previously stated 3% in Mar 2016, said economists at UBS Group…


Singapore to include RMB investments as part of Official Foreign Reserves

The Monetary Authority of Singapore (MAS) said in a statement on June 22 that it will include its yuan (RMB) financial investments into its Official Foreign Reserves (OFR), starting from June 2016. The monetary policy…


FINTS LUNCH TRAY (23 Jun 2016)

Outstanding amount of margin financing in two exchanges as of June 22 increased 2.872 billion yuan to 837.399 billion yuan PBOC fixed RMB mid price at 6.5658, 277 basis points firmer than the last fixing…


Line and WeChat tapping into marketing goldmine

Line and WeChat, the two dominant mobile messaging apps in Japan and China respectively, have been tapping into mobile marketing and advertising even though its Western counterparts such as WhatsApp or Facebook Messenger have not…


Hong Kong ranks as world’s most expensive city for expats

Hong Kong has been once again named the world’s most expensive city for those working abroad, replacing capital of oil-rich Angola, Luanda, according to an annual survey published by international consulting firm Mercer. Although housing…


FINTS MORNING BRIEF (23 Jun 2016)

At the latest executive meeting, the State Council requires large commercial banks expand their services to small- and medium-sized companies; the meeting also urges further opening sectors such as civil airport, basic telecom operations and…