Daily archives: July 7th, 2016

FINTS EVENING HIGHLIGHTS (7 July 2016)

Baoneng Group, the largest shareholder of Vanke, said the possibility of it increasing or cutting Vanke’ shares in the next 12 months cannot be ruled out Vanke’s A-shares closed 4.95% down to 18.82 yuan per…


BAONENG POSITIONS ITSELF AS VANKE’S LONG-TERM INVESTOR

In its filing to the Shenzhen bourse, Baoneng acknowledges the long-term investment value of Vanke’s stocks and expects to become Vanke’s long-term strategic financial investor aimed at reaping a profitable return. It also pays tribute…


CHINA’S NEW THIRD BOARD STRENGTHENS ANNUAL REPORT MANAGEMENT

On June 30, two Chinese companies were delisted from the country’s National Equities Exchange and Quotations (NEEQ), also known as the “New Third Board”, due to their failure to timely disclose annual reports. This is…


CHINA’S SMART PHONE GIANT HUAWEI SUES SAMSUNG OVER PATENTS INFRINGEMENT

Huawei Technologies, the world’s largest telecom equipment maker, initiated a patent lawsuit against Samsung at the intermediate people’s courts in Shenzhen and Quanzhou, as confirmed by the spokesman of Huawei on Jul 6. Huawei instituted…


China Stock Market Roundup (7 July 2016)

China’s stock market closed lower on Thursday with main indexes passing through a narrow-band session. By the close, the Shanghai Composite Index lost 0.01%, to 3,016.85 points, while the Shenzhen Component Index was 0.2% lower…


AIRBNB RECEIVES NEW ROUND OF FINANCING; PROSPECTS IN CHINA STILL MURKY

Airbnb has just completed a recent round of financing estimated at between $500 million to $1 billion, effectively bumping up the total estimated value of the world’s largest online marketplace for short term rentals to…


SAIC, ALIBABA CONNECT CAR TO INTERNET

Chinese automaker SAIC Motor and e-commerce conglomerate Alibaba on Wednesday launched their first web-enabled car, in joining the race to control the automobile dashboard. The internet-connected car, the Roewe RX5 SUV model with a starting…


CASS SUGGESTS POSSIBLE ADJUSTMENT IN PROPERTY MARKET

Chinese Academy of Social Sciences (CASS), the official academic research organization, released a 2016 interim report on real estate development in China on Jul 6 noting that China’s housing sales are expected to hit a…


FINTS LUNCH TRAY (7 July 2016)

In order to make betting on the yuan’s weakness more expensive, China’s foreign exchange regulator said in an announcement on late Wednesday that it will require foreign banks that conduct foreign-exchange forward trading for clients…


UNIONPAY ESTABLISHES MOBILE PAYMENT SERVICE IN SOUTH KOREA

UnionPay, China’s dominant card clearing business recently having its monopoly broken up by the Chinese government, has lately launched QuickPass in the South Korean market. Specifically, the service would allow users to make payments via…


CHINA’S YUAN HITS FRESH 5-1/2 YEAR LOW AGAINST THE DOLLAR, SHORT BETS INCREASE

China’s onshore yuan hit a fresh five-and-a-half-year low against the dollar on Wednesday after the central bank fixed its mid price at the lowest level since November 2010, as traders were betting that it would…


FINTS MORNING BRIEF (7 JULY 2016)

Baoneng Group raised its stake in Vanke to 25% yesterday, Vanke says in a filing to the Shenzhen Stock Exchange. According to relevant regulations, Baoneng must make a filing to the Shenzhen Stock Exchange as…