Daily archives: July 26th, 2016

FINTS EVENING HIGHLIGHTS (26 July 2016)

The China Gold Association said China’s gold consumption in the first half of the year fell 7.68% year on year to 528.52 tons, while gold production rose 0.16% from a year earlier to 229.102 tons…


ALIBABA PICTURES SETS UP 2 BILLION YUAN INVESTMENT FUND TO INVEST IN ENTERTAINMENT FIRMS

Alibaba Pictures Group Limited, a subsidiary of China’s e-commerce giant Alibaba Group, announced on July 25 that it and its partners will jointly set up a 2-billion-yuan investment fund to invest in firms in the…


CSRC BANS STRONG STOCKHOLDERS FROM PARTICIPATING IN PRIVATE PLACEMENT VIA FINANCIAL CHANNELS

Shareholders with more than 5% stake in a listed company should directly subscribe to the company’s non-publicly issued shares instead of through financial channels such as asset management programs and limited partnerships, said the China…


CHINA STOCK MARKET ROUNDUP (26 JULY 2016)

China’s stock market closed higher on Tuesday, with main indexes climbing in the late afternoon trading. By the close, the Shanghai Composite Index rose 1.14%, to 3,050.17 points, while the Shenzhen Component Index climbed 1.25%…


POPULATION GROWTH SLOWS DOWN IN FIRST-TIER CITIES

Population growth in first tier Chinese cities have slowed down in recent years, according to recent findings from financial newspaper Yicai.com. Factors accounting for the slowdown can be mainly attributed to the lingering effects of…


JOB SEEKERS FALLING BEHIND AMID GROWING JOB OPPORTUNITIES

“Changing labor laws to allow companies to fire employees more easily would serve as the best way to improve efficiency and rehire those laid off by state owned enterprises”, said Evan Guo, Chief Executive Officer…


FINTS LUNCH TRAY (26 July 2016)

During the second quarter, Chinese funds pared back 713 million shares of bank and insurance stocks, with market value up to 8.33 billion yuan: the 21st Century Business Herald Supporting policies for “Made In China…


CONSORTIUM LED BY BAIDU CHIEF WITHDRAWS BID FOR VIDEO UNIT

Chinese internet search giant Baidu said on Monday that an offer it received in February to acquire the company’s video-streaming service iQiyi has been dropped by the intended buyer, a consortium led by Baidu CEO…


HUAWEI’S H1 REVENUE UP 40% YOY TO 245.5 BILLION YUAN

Huawei Technologies, the world’s largest telecommunications network equipment supplier, said on Monday that its revenue in the first half of this year surged 40% from a year earlier to 245.5 billion yuan or $36.67 billion….


WANDA COMMERCIAL REPORTEDLY SECURES ENDORSEMENT FROM CHINA LIFE TO DELIST FROM HK

Dalian Wanda Commercial Properties, the Hong Kong listed entity of China’s real estate conglomerate Dalian Wanda, said on July 25 that it has secured the endorsement of one of its largest minority shareholders, China Life…


FINTS MORNING BRIEF (26 JULY 2016)

President Xi met the U.S. National Security Adviser Susan Rise yesterday and said that China was committed to building a good bilateral relationship on the basis of no conflict, no confrontation, mutual respect and win-win…