Daily archives: July 15th, 2016

FINTS EVENING HIGHLIGHTS (15 July 2016)

BYD Company Limited confirmed in a statement that Samsung plans to participate into its private placement project,  in response to media reports that Samsung intends to buy its 4% stake The central bank’s foreign exchange purchase…


2016 FORTUNE CHINA 500 LIST IMPLIES ONGOING ECONOMIC RESTRUCTURING AMID SLOWDOWN

China top 500 enterprises altogether generated 30.77 trillion yuan in revenues and 2.74 trillion yuan in net profits in 2015 , respectively up by 1.2% and 1.5% YoY, well below previous figures of 5% and…


UNITY RAISES $181 MILLION IN SERIES C FUNDING CONCERNING VR/AR MARKET

Unity Technologies, one of the most prominent video game development platforms for creating 2D, 3D, augmented reality (AR) and virtual reality (VR) games and experiences, has announced the completion of a $181 million Series C…


CHINA’S Q2 ECONOMY GROWS 6.7% YOY, BUT DOWNWARD PRESSURE AHEAD

China’s economy grew 6.7% in the second quarter from a year earlier, unchanged from the first quarter but beating market expectations, indicating the economy may be temporarily stabilizing despite downward pressure ahead, according to the…


CHINA STOCK MARKET ROUNDUP (15 JULY 2016)

China’s stock market closed mixed on Friday after official data showed China’s Q2 GDP grew 6.7% a year earlier, unchanged from the first quarter but beating market expectations, indicating the economy may be temporarily stabilizing despite downward…


WECHAT PAY ACCUSED OF VIOLATING ONLINE PAYMENT GUIDELINES

People’s Bank of China, China’s central bank, has received a real-name written report on July 13 by a Shanghai-based lawyer regarding accusations pertaining to legal violations of WeChat Pay. Back on July 1, the regulators…


UCAR TO BECOME THE FIRST CAR-HAILING APP LISTED ON NEW THIRD BOARD

Ucar Inc, a ride-hailing app launched by Hong Kong-listed China Auto Rental, is ready to become the first of its kind to be listed on China’s NASDAQ-like New Third Board. The New Third Board, formally…


CHINA’S LUXURY HOUSING MARKET SEES ROSY PROSPECT

China’s housing sales are expected to hit a record high in 2016, following a booming sales volume in the first half of this year. Also, real estate developers have poured 4.66 trillion yuan into the…


FINTS LUNCH TRAY (15 July 2016)

Outstanding amount of margin financing in two exchanges as of July 13 increased 1.531 billion yuan to 873.77 billion yuan China’s government spending in June surged 19.9% from a year earlier, accelerating from May’s 17.6%,…


INTEL TO INCUBATE CHINA’S ROBOTICS START-UPS

Intel said at a conference in China on July 14 that it is going to invest 10 million yuan every year to incubate the country’s startups in the industrial and consumer robot sectors. Dexon Li,…


CHINA’S DIVORCE RATE IN 2015 DOUBLES OVER A DECADE

Over 3.84 million marriages in China ended up in divorce in 2015, up 5.6% from 2014, according to statistics recently released by the country’s Ministry of Civil Affairs. Divorce rate has reached 2.79% last year,…


FINTS MORNING BRIEF (15 JULY 2016)

Vice Chairman of the China Securities Regulatory Commission says that the proposed Shanghai – London Stock Connect has made sound progress LeTV, China’s leading online streaming site, forecasts that profits for the first half year…