Daily archives: June 28th, 2016

FINTS EVENING HIGHLIGHTS (28 Jun 2016)

Draft legislation on nuclear security will soon be submitted to the National People’s Congress, China’s legislature, which is expected to enact the law by the end of this year: report China could file suit at…


Shanghai-Hong Kong Stock Connect (28 Jun 2016)

Northbound stock trade sees a net fund inflow of 266 million yuan The Shanghai – Hong Kong Stock Connect saw a net fund inflow of 266 million yuan for northbound trade on Tuesday. The Shanghai…


Shenzhen bourse queries Vanke’s two major shareholders on action in concert

Shenzhen Stock Exchange sent notices on Monday to Baoneng Group and China Resources, the two largest shareholders of Vanke, asking them to clarify if they or their affiliates have reached an agreement on increasing the…


Ctrip’s merger with Qunar has yet to generate full synergy

Earlier this month, Ctrip, a leading travel service provider in China, reported its unaudited result report under the US’ Generally Accepted Accounting Principles, marking its first quarterly report since its merger with Qunar in the…


Guangdong province fully allows out of province gaokao takers

A total of 9,570 out of province students in Guangdong province took their gaokaos, or Chinese national college entrance exams, in the province this year, accounting for 1.3% of all 737,000 exam takers in the…


China Stock Market Roundup (28 Jun 2016)

China’s stock market closed higher on Tuesday, with main indexes climbing in the late afternoon trading. By the close, the Shanghai Composite Index rose 0.58%, at 2,912.56 points, while the Shenzhen Component Index was 0.83%…


Western sports brands likely to enjoy rosy prospects in China

Chinese consumers are turning away from luxury products amid the anti-corruption campaign launched by the ruling party, and appear to be instead favoring sports brands thanks to the raising awareness of fitness, reported Bloomberg. Western…


FINTS LUNCH TRAY (28 JUN 2016)

PBOC condemned a recent report that China was starting to recover bank interest control and would again restrict the floating ranges of deposit and lending interest rates To expand quotas for the Shanghai- Hong Kong…


Yuan hits weakest level against dollar in more than 5 years

The yuan fell to its weakest level against the dollar in five and a half years on Monday after the central bank fixed the yuan’s mid-price at its lowest since 2010 and Britain’s decision to…


Rating agencies unanimously cut UK’s rating scores after Brexit

Rating agencies have recently downgraded Britain’s credit scores, adding to the country’s already suffering economic standing after its referendum to leave the EU last Thursday. Standard & Poor’s dropped Britain’s rating two grades to “AA”…


Shenzhen – Hong Kong Stock Connect testing settlement interface systems

The Shenzhen and Hong Kong stock link, Shenzhen – Hong Kong Stock Connect (SZHKC), started “end-to-end” tests of its settlement interface system on Monday. Sources said that the SZHKC would have higher quotas than the…


FINTS MORNING BRIEF (28 Jun 2016)

PBoC’s 2016 Financial Stability Report calls for vigorous efforts to push forward financial reform Shenzhen Stock Exchange inquires China Resources and Baoneng Group on whether the two companies are parties acting in concert Shenzhen Stock…