Daily archives: July 5th, 2016

FINTS EVENING HIGHLIGHTS (5 July 2016)

China’s e-commerce giant Alibaba purchased Wandoujia, a Chinsese mobile application, for $200 million A total 515 peer-to-peer lenders closed in the past six months: report China has revised up the size of its economy by…


CHINA COSCO TO COMPLETE ACQUISTION OF GREEK PIRAEUS PORT

On July 4, China Cosco Shipping Corp completed a final step in its acquisition of a majority stake in Piraeus Port Authority, where Premier Li Keqiang and his Greek counterpart Alexis Tsipras witnessed the signing…


CHINA LOOKS TO IMPROVE GDP MEASUREMENT BY INCLUDING SHARING ECONOMY

Chinese statisticians are looking into ways to adjust GDP calculation which would incorporate a sharing economy, mainly led by mobile apps widely used by Chinese consumers such as Uber and Airbnb. Xu Xianchun, deputy head…


NEW HOME PRICE IN SHENZHEN HITS HIGHEST LEVEL IN JUNE

Average price for new homes in Shenzhen in Jun hit 61,756 yuan per square meter, reflecting a 10.6% increase on a monthly basis and an incredible 101% growth YoY, according to statistics released by the…


China Stock Market Roundup (5 July 2016)

China’s stock market closed mixed on Tuesday, as the Shanghai index stood above 3,000 points for the first time in more than two and a half months and the small-cap indexs stayed at the negative territory…


LETV ACCELERATING WORKS IN INTELLIGENT VEHICLES

Ding Lei, global deputy chairman of LeTV and founder of its LeSEE fanclub, has shown up at the opening ceremony of the latest Formula E race in London between July 2 and 3. Similar to…


CICC, CHINA INVESTMENT SECURITIES IN POSSIBLE MERGER TALKS

China International Capital Corporation (CICC), China’s largest investment bank, is said to be in talks over a possible merger with China Investment Securities (CIS), according to a person familiar with the matter. However, CICC announced…


FINTS LUNCH TRAY (5 July 2016)

Outstanding amount of margin financing in two exchanges as of July 2 increased 8.549 billion yuan to 856.923 billion yuan PBOC will inject 40 billion yuan into the financial system via its seven-day reverse repurchase…


SURVEY SHOWS CHINA NEEDS TO BAIL OUT ITS BANKS WITHIN 2 YEARS

More people are expecting that China will need to bail out its banks in the future as bad loans are rising due to a slowing economy. According to data from the China Banking Regulatory Commission,…


BEIJING ENACTS PAY CUTS FOR CENTRALLY OWNED SOES

Beijing has required the listed units of major state owned companies to enact substantial pay cuts for their executives, as part the nation’s wider anti-corruption campaign. The pay cuts, however, will only apply to SOEs…


FINTS MORNING BRIEF (5 JULY 2016)

PBoC pledges to push forward the interest rate liberalization and the reform of RMB exchange rate formation mechanism in a bid to maintain yuan stable at a rational and balanced level President Xi says that…