Daily archives: August 2nd, 2016

FINTS EVENING HIGHLIGHTS (2 August 2016)

Hong Kong Exchanges & Clearing Ltd. said in a statement that Tuesday sessions, including after-hours futures trading, had been canceled due to Storm Signal No. 8, the third-highest warning in the city China is considering…


P2P platforms soon required to disclose all relevant information on periodic basis

The National Internet Finance Association of China has released an exposure draft to its members on August 1 in seeking feedback for its proposal to require online P2P firms to proactively disclose relevant information on…


Didi Chuxing acquires Uber China in $35 billion deal

Ride-hailing app Didi Chuxing said on August 1 to buy Uber’s China operations at a deal valued at $35 billion, putting an end to recent wars between the two. Specifically, the deal will give Uber…


CHINA STOCK MARKET ROUNDUP (2 August 2016)

China’s stock market closed higher on Tuesday, with main indexes climbing in the late afternoon trading, but trading volume remained low. By the close, the Shanghai Composite Index climbed 0.61%, at 2,971.28 points, while the…


License revoked for PE fund owned by son of Dalian Wanda founder

A total 8,270 “empty shell” private equity funds had their licenses revoked by the Asset Management Association of China (AMAC) on August 1, one of which include Prometheus Capital, a PE fund owned by Wang…


FINTS LUNCH TRAY (2 August 2016)

Hong Kong Exchanges and Clearing Limited (HKEX) announced that the morning trading in its securities market, including Shanghai-Hong Kong Stock Connect trading, and derivatives market has been delayed due to the issuance of Typhoon Signal…


Shanghai rolls out good Samaritan law

The standing committee of Shanghai, more commonly known as the city’s rubberstamp legislature, passed a rule on July 29 expanding and protecting the rights of the city’s good Samaritans. According to this new rule, those…


FINTS MORNING BRIEF (2 August 2016)

The China Banking Regulatory Commission gives the green light to a proposed private bank set up in Hunan Province Six state-owned enterprises default on bonds worth of 16.5 billion yuan, amounting to 67% of the…