Daily archives: June 30th, 2016

FINTS EVENING HIGHLIGHTS (30 Jun 2016)

PBOC is said to be willing to let yuan fall to 6.8 vs USD this year, Reuters reported, citing sources China’s Q1 current account surplus was revised to $39.3bln from $48.1bln; Q1 capital & financial…


New Third Board’s innovation tier faces stricter supervision

Market reactions towards Monday’s launch of tier management by the National Equities Exchange and Quotations, better known as the New Third Board (NTB), are relatively moderate as firms in the innovation layer are now under…


Pork price falls, upward pressure on consumer price temporally eases

Pork price in China averaged 26.79 yuan per kilogram in the week ended June 26, falling 0.7% on a month-on-month basis but 32.7% higher compared with the same period last year, according to data from…


China Stock Market Roundup (30 Jun 2016)

China’s stock market closed mixed on Thursday, as investors wondered whether a much-anticipated stock connect could be announced on July 1, the 19th anniversary of Hong Kong’s return to China. By the close, the Shanghai Composite…


CSRC institutes salary reduction plan for officials

The China Securities Regulatory Commission has recently set an annual salary ceiling for its officials at no higher than 600,000 yuan (or $90,300), according to sources close to the CSRC. However, information has not been…


China’s over-heating real estate market witnesses slide in June

Transaction volume in China’s real estate sector saw an overall decline of 5% on a monthly basis in Jun, marking the third consecutive monthly decline, according to a report on property markets among 50 Chinese…


FINTS LUNCH TRAY (30 JUN 2016)

Dalian Wanda Commercial Properties said it will hold a shareholders meeting in Beijing on Aug. 15, seeking approval for a plan to delist from the Hong Kong stock exchange China Beige Book, a private report,…


Brexit likely to jerk exchange rate of yuan

China’s efforts to internationalize the yuan may face a setback as volatility in the British pound and the euro is pushing the very foundation of the global monetary order into question, an economist at Bank…


Huawei presses on with GBP 1.3 billion investment despite Brexit

Shenzhen-based Huawei Technologies, China’s largest smartphone manufacturer and the world’s third largest smartphone supplier, has pressed on with its GBP 1.3 billion investment in the UK despite uncertainties pertinent to the recent Brexit referendum. Sajid…


Beijing relaxes residency permit rules for skilled and entrepreneurial talents

Beijing has rolled out a guideline based on skills, employment history and education aimed at attracting top skilled and entrepreneurial talent to permanently settle down in the city. Long known for its stringent settling rules…


FINTS MORNING BRIEF (30 Jun 2016)

The latest executive meeting of the State Council approves in principle the “medium- and- long term railway network planning” that aims to support economic and social development through railway construction; the program also encourages private…