Daily archives: July 1st, 2016

FINTS EVENING HIGHLIGHTS (1 July 2016)

The total sales of lottery tickets in May rose 7.8% YoY to 34.619 billion yuan; In the first five months, the total sales of lottery tickets were up 0.5% from a year earlier to 160.292…


CHINA TO ALLOW FOREIGN PRIVATE EQUITY FUNDS TO DO BUSINESS IN CHINA

China will allow eligible foreign private equity funds to engage in the asset management business in its yet-to-be-opened domestic market, its latest step aimed to further open up its financial market to overseas investors, the…


CHINESE CONSORTIUM AGREES TO BUY 80% STAKE IN AC MILAN

A Chinese consortium is reportedly close to clinching a deal on acquiring an 80% stake in AC Milan, an Italian football club. AC Milan is valued at €700 million to €750 million, including €200 million…


China Stock Market Roundup (1 July 2016)

China’s stock market closed mixed on Friday, with main indexes killing time in a narrow-bound trading session. By the close, the Shanghai Composite Index edged higher 0.1%, at 2,932.48 points, while the Shenzhen Component Index…


SURGE IN ILLICIT AIR TICKET REFUNDS BY THIRD PARTY VENDORS

Third party air ticket vendors have reportedly been making a killing off tickets that have not been refunded or rescheduled past the expiry dates, according to industry sources. Airline providers usually allow holders of air…


NEW DEVELOPMENT IN VANKE’S TAKEOVER TUSSLE

In separate replies to the Shenzhen bourse, the two top shareholders of Vanke both deny that they were acting in concert, even though they both disagree on a reshuffle of the board. (see article: Shenzhen…


IV INFUSION INDUSTRY NEEDS TRANSFORMATION AND UPGRADE OUT OF BANNED OUTPATIENT INFUSION

From July 1, public hospitals of the top two tiers in Jiangsu Province (except children’s hospitals) will reportedly cancel a widespread nationwide practice of outpatient IV infusion, according to the Jiangsu Health and Family Planning…


CHINA’S OFFICIAL MANUFACTURING PMI FALLS TO 50, SERVICES PMI RISES TO 53.7

Activity in China’s manufacturing sector slowed down in June, but growth in the services sector accelerated, official data showed on Friday. The official manufacturing Purchasing Managers’ Index (PMI) came in at 50 in June, slightly…


FINTS LUNCH TRAY (1 July 2016)

China Foreign Exchange Trade System said the CFETS RMB Index on 30 June 2016 closed at 95.02, losing 2.19% from the end of last month. Outstanding amount of margin financing in two exchanges as of…


CHINESE TELECOM PROVIDERS EXPECTED TO INITIATE 5G NETWORK IN 2020

In the midst of declining revenue from voice services, Chinese telecommunication providers would likely soon start providing services such as data analytics and cloud services as 5G is expected to be made commercially available in…


FINTS MORNING BRIEF (1 Jul 2016)

China will expand reform of resources taxes across the board from today In a commentary on Vanke’s takeover tussle, the Xinhua News Agency reminds medium and small shareholders to use voting rights to protect their…