Daily archives: June 29th, 2016

FINTS EVENING HIGHLIGHTS (29 Jun 2016)

Fenda, a fast-growing online Chinese question-and-answer service, has raised $25 million in a first round of fund-raising, valuing the knowledge-sharing app at more than $100 million just 42 days after its release VISA is making…


Shanghai-Hong Kong Stock Connect (29 Jun 2016)

Northbound stock trade sees a net fund inflow of 1.096 billion yuan The Shanghai – Hong Kong Stock Connect saw a net fund inflow of 1.10 billion yuan for northbound trade on Wednesday. The Shanghai…


China tightens control over App providers and stores

The Cyberspace Administration of China (CAC) requires app providers on the mainland to adopt real-name registration for users and preserve their users’ activity logs for 60 days. The new rules issued on Tuesday also forbids…


China Minsheng Banking shuts P2P online payment services

After several Chinese commercial banks, including Agricultural Bank of China and China Merchants Bank, have shut off trading interfaces with peer-to-peer lending platforms earlier this year, another commercial bank is following suit. Minmin Dai, a…


China Stock Market Roundup (29 Jun 2016)

China’s stock market closed mixed on Wednesday, as panic triggered by the Brexit vote eased. By the close, the Shanghai Composite Index rose 0.65%, at 2,931.59 points, while the Shenzhen Component Index was 0.02 lower…


General price cut seen for electricity

Electricity sold for industrial purposes would possibly see an aggregate 16.8-billion-yuan price decrease over 22 provinces this year, says the National Development and Reform Commission. Also, the overall prices of electricity are expected to see…


Consumer goods sales move online and domestically

Foreign consumer brands are losing market share by products sales in China as domestic rivals improve quality, according to a report by Bain & Company and Kantar Worldpanel. The report found that the sales of…


FINTS LUNCH TRAY (29 JUN 2016)

Outstanding amount of margin financing in two exchanges as of June 25 increased 3.594 billion yuan to 845.911 billion yuan NDRC will strive to roll out the development plans for Beibu Gulf and central China…


China’s two herbal tea giants again in intellectual property proceedings

China’s two herbal tea giants, Wanglaoji and Jiaduobao, have entered into a trademark infringement case again on Jun 24, which was heard by the Guangzhou provincial court. This is the third time that the two…


Qihoo expects privatization deal to close mid-August

Qihoo 360 Technology Co., China’s largest internet security software provider, said on June 28 that its privatization deal is expected to be closed in mid-August. In a statement to the US authorities, the New York-listing…


Chinese investors likely swarming to UK following Brexit

Among various market and stock plunges after Britain voted to leave the EU last Friday, speculation and interest in investment in the nation’s real estate market has evidently taken the other way. Property prices in…


FINTS MORNING BRIEF (29 Jun 2016)

Premier Li says that China has the biggest potential for investment and should become the world’s most appealing destination for investment Hong Kong’s chief executive says that Shenzhen – Hong Kong Stock Connect is set…