Daily archives: August 3rd, 2016

FINTS EVENING HIGHLIGHTS (3 August 2016)

The China Insurance Regulatory Commission has asked insurers to thoroughly assess business risks and strengthen their risk controls: Caixin The US listed Cheetah Mobile Inc.said it has acquired global mobile news services provider News Republic,…


Taxi companies reducing common charges to handle competition from ride hailing apps

On August 1, China’s Ministry of Transport issued a new rule acknowledging the legal status of ride hailing vehicles, as well as requiring carriers to proactively bear the legal and financial burdens should accidents occur…


Baidu to terminate advertising on post bar

Baidu has invited more than 70 representatives nationwide who are the advertising operators of its forum-like Baidu post bar to Beijing on August 1, in discussion of the proposed termination of its advertising services on…


CHINA STOCK MARKET ROUNDUP (3 August 2016)

China’s stock market closed mixed on Wednesday, with heavyweight stocks in Shanghai outperforming small-cap shares in Shenzhen. By the close, the Shanghai Composite Index climbed 0.24%, at 2,978.46 points, while the Shenzhen Component Index went…


Tencent and Baidu back out of ecommerce endeavor led by Dalian Wanda

Ffan.com, an ecommerce platform originally set up in March 2015 by real estate conglomerate Dalian Wanda and internet giants Tencent and Baidu, is now entirely backed by Dalian Wanda after the latter two entities backed…


FINTS LUNCH TRAY (3 August 2016)

China’s box office revenue tumbled 18.2% yoy to 4.5 billion yuan in June, this is the first time the early summer box office had posted negative growth since 2011: official data Liu Hong, co-founder and…


Shanghai DZH countersues CSRC over falsified 2013 earnings

Shanghai DZH Ltd, a Shanghai listed supplier of Internet financial information services, has countersued the China Securities Regulatory Commission on August 1 over the latter’s decision that it has falsified its 2013 earnings, prompting hundreds…


FINTS MORNING BRIEF (3 August 2016)

As of today, more than 8,000 companies are listed in the over-the-counter New Third Board, among which 953 companies are included into the board’s innovation layer China is expected to see more severe marine disasters…