Australia & New Zealand Banking Corp. agreed to sell its 20 percent stake in Shanghai Rural Commercial Bank Co. for A$1.84 billion ($1.33 billion), Chief Executive Officer Shayne Elliott’s latest move to unwind an Asian expansion that sapped profits. ( read original story ...)
‘It’s a brawl’: Inside China’s cutthroat race to build the world’s fastest elevator
In the end, Mitsubishi installed new hardware on one of the elevators in Shanghai Tower, snatching the record back from Hitachi shortly after it was lost. Mitsubishi representatives said that the demands of the client, a consortium with links to the ... ( read original story ...)
Shanghai becomes world's No.1 city for new energy vehicle ownership
Shanghai has become the No.1 city in the world for ownership of new energy vehicles (NEVs), according to data provided by the automobile registration department of Shanghai. There are 45,060 new energy vehicles that were registered in 2016, and total sales ... ( read original story ...)
ANZ’s Shanghai stake sale balances risks
Shanghai Rural contributed $259m to ANZ’s post-tax profit in the last financial year. Moreover, if ANZ goes through with the selldown of the rest of its minority Asian bank stakes, as planned, that earnings hole would grow to around 10 per cent ... ( read original story ...)
Chinese consortium takes 40 per cent stake in Pakistan's stock exchange
China is now trying to connect the Shanghai stock exchange with the one in London ... After Chinese capital is introduced to Pakistan's bourse, the market will be more internationalized and capital that flows to the country will likely to benefit the ... ( read original story ...)
What's Your 'Public Credit Score'? The Shanghai Government Can Tell You
The Shanghai city government thinks it can make citizens more ... the criteria and start judging people on moral or ideological grounds. They're using modern technology to create a vision of Orwell's 1984." City official Shao Zhiqing rejects this line ... ( read original story ...)
PwC sees rising IPOs in Shanghai and Shenzhen
PwC said that the value of IPOs in 2016 fell by 5.2 percent to 150.4 billion yuan ($21.6 billion). [Photo/IC] The number of initial public offerings on the Shanghai and Shenzhen stock markets is expected to increase rapidly in the current year－and their ... ( read original story ...)