Chinese smartphone giant Xiaomi (1810) reportedly plans to apply for a virtual banking license in Hong Kong and may tap as a director Vincent Cheng Hoi-chuen, who used to work with the Hong Kong and S... ( read original story ...)
Banks deny rate cuts; home loans in focus
On Aug. 9, media reports emerged that Industrial and Commercial Bank of China and Agricultural Bank of China in Shanghai will lower mortgage interest rate for first-home buyers from 95 percent of the ... ( read original story ...)
China’s stock market nears low of 2015 crash after drug makers slide amid Beijing crackdown on industry
China’s stocks dropped for a fifth day, nearing the low of the 2015 market rout, as Beijing vowed to clean up the health care sector in the wake of a vaccine scandal and concerns deepened about a slow... ( read original story ...)
HKMA fines Shanghai Commercial Bank for anti-money laundering lapses
HONG KONG (Reuters) - The Hong Kong Monetary Authority (HKMA) has fined Shanghai Commercial Bank Ltd HK$5 million ($636,967) and reprimanded it for breaching anti-money laundering and counter terroris... ( read original story ...)
Nio IPO: 5 things to know about the ‘Chinese Tesla’
Nio Inc., a Shanghai-based electric-car maker ... If Nio succeeds in raising that sum, it would mark the fourth largest U.S. IPO this year, behind Axa Equitable Holdings’ EQH, +0.95% $3.16 billion, Pa... ( read original story ...)
Why the drop in China’s stock market might not reflect its economic reality
Kudlow may simply have been looking at the decline in the Shanghai stock market. But the Chinese stock market is not very efficient and does not necessarily reflect underlying economic realities. But ... ( read original story ...)
Shanghai stocks end at 31-month low as healthcare firms slump
The Shanghai stock index is below its 50-day moving average and below ... About 11.24 billion shares were traded on the Shanghai exchange, roughly 81.5 per cent of the market's 30-day moving average o... ( read original story ...)