SHANGHAI: Strolling a tree-lined Shanghai street with friends ... Meitu, which means “pretty picture”, launched a Hong Kong IPO in December that valued the company at $4.6 billion at the time, despite consistently posting losses. ( read original story ...)
Saudi favors New York for Aramco IPO, also considers Toronto, London: WSJ
Saudi officials also talked to exchanges in Singapore, Hong Kong, Tokyo and Shanghai but are unlikely to pursue listing ... Saudi officials expect the IPO to value Aramco at a minimum of $2 trillion. Saudi Arabian Oil Co, known as Saudi Aramco, was not ... ( read original story ...)
Annual profits of the Hong Kong and Shanghai Banks down by 62%
Hang Seng in Hong Kong drop by 41%. Hong Kong (AsiaNews) - The 2016 HSBC (Hong Kong and Shanghai Bank) profits have plummeted by 62% in one year according to President Douglas Flint. Announcing the drop today he insisted it was "quite satisfactory" given ... ( read original story ...)
China's regulator inspects inter-bank lending business in Shanghai – sources
SHANGHAI Feb 21 The Shanghai branch of China's banking regulator has launched an inspection of the inter-bank lending business of small- and medium-sized financial institutions in the city, two sources with direct knowledge of the matter said. The aim of ... ( read original story ...)
China's Ant to invest $200 mln in Korea's Kakao Pay amid global push
SHANGHAI (Reuters) - China's Ant Financial will invest $200 million in Kakao Pay, the mobile payment subsidiary of South Korean messaging platform giant Kakao Corp, extending a major push by the Chinese firm to create a global network of financial assets. ( read original story ...)
Guangdong banking regulator widens core debt for lenders to ease burden – sources
SHANGHAI Feb 21 China's banking regulator is allowing banks in the southern Chinese province of Guangdong to count negotiable certificates of deposit with a tenor of more than 90 days as part of their minimum regulatory capital requirement, three sources ... ( read original story ...)
Panic Over China Is So Last Year, With Market Swings Subsiding
The Shanghai stock market isn’t swinging so wildly any more. The interest of China’s dominant retail investors hasn’t returned since the crash in 2015, and more funds are entering Hong Kong shares through a connect program, propelling the local ... ( read original story ...)