Daily archives: July 12th, 2016

FINTS EVENING HIGHLIGHTS (12 July 2016)

Unlisted Dongbei Special Steel Group Co Ltd, which defaulted on several bonds earlier in 2016, has defaulted on a private placement note which matured Monday,it said today China’s 2016 summer grain output fell 1.621 million…


FLOODS TO HAVE LIMITED IMPACT ON CHINA’S ECONOMY: ANALYSTS

According to statistics from the State Flood Control and Drought Relief Headquarters, China’s disaster relief department, as of July 3, a string of severe floods since late June in 26 provinces had affected a population…


CHINA STOCK MARKET ROUNDUP (12 JULY 2016)

China’s stock market closed sharply higher on Tuesday, with main indexes jumping in the late-afternoon trading on expectations that its central bank may roll out more stimulus policies soon to prop up its slowing economy. By…


CITS MERGED INTO HKCTS TO CREATE TOP STATE-OWNED TOURISM GROUP

According to a Jul 11 statement released by the State-owned Assets Supervision and Administration Commission (SASAC), the CITS Group Corporation, as approved by the State Council, will be merged into China National Travel Service (HK)…


LARGE SUBSIDIES NO LONGER AVAILABLE FOR CONTRACT PHONES

Chinese telecom providers are slowly but surely moving away from contract phones, as reflected by the decrease in cellphone models that subsidies on contract phones apply to, as well as the actual subsidies provided by…


COAL PRICE SURGES AMID CHINA OUTPUT REDUCTION AND HEAVY RAINFALL

Thermal coal prices in the Asian market may rise 50% if the La Nina rainfall this year is worse than expected, along with production cut in China, according to Citigroup. Citigroup analysts estimated on Monday…


CHINA’S NEW ENERGY VEHICLES MARKET SEES HIGH GROWTH IN 2016

According to a Jul 11 report released by the China Association of Automobile Manufacturers (CAAM), 12.83 million cars were sold over the first half of 2016, reflecting an 8.1% YoY increase, 6.7% higher than that…


FINTS LUNCH TRAY (12 July 2016)

China’s three telecom carriers are likely to start 5G network construction in 2018, and officially launch its commercial use in 2020:  Economic Information Daily TouTiao, China’s most popular personalized news app, has denied rumors of an…


HONG KONG AND SHANGHAI STOCKS RALLY ON MORE STIMULUS POLICY

Hong Kong and Shanghai stocks closed up on Monday after soft inflation data released over the weekend heightened expectations that China’s central bank may roll out more stimulus policies in the second half of the…


PARENT OF ICONIC STATE OWNED ROAST DUCK CHAIN TO ACQUIRE MCDONALDS, MARKET CHATTER

Shenzhen listed China Quanjude Group, the iconic Beijing based roast duck chain, saw its shares hit a maximum 10% surge on July 11 after the simultaneous resignation of its four top executives. Market speculation believes…


FINTS MORNING BRIEF (12 JULY 2016)

Essence Fund’s 1.5-billion-yuan asset management plan aiming at buying Vanke stocks may not run as planed since the investment raises concerns of its predominant investor Pudong Development Bank over the uncertainties caused by the locking-up…