Tencent Holdings (0700) and Shanghai Pudong Development Bank has signed a strategic partnership pact, to cooperate on big data, cloud, artificial intelligence, and blockchain. According to a statement, Tencent will support SPD Bank’s strategy transition. ( read original story ...)
Narendra Modi in China highlights: Bank of China’s first branch to open in Mumbai
Gokhale said India has agreed to open Bank of China’s first branch in Mumbai. PM Modi met and held bilateral talks with President Jinping, minutes after he landed in China’s Qingdao to attend the two-day 18th Shanghai Cooperation Organisation (SCO ... ( read original story ...)
Standard Chartered says it will apply to operate a virtual bank in Hong Kong
in Shanghai. “For foreign banks, they might seek an edge by working with joint venture fund management houses that see the value of working with a bank with international exposure.” ( read original story ...)
FII widens gap in market value with parent Hon Hai after Shanghai IPO
On June 8, the first day of FII's trading in Shanghai, the stock rose 44 percent, the maximum increase, to 19.83 Chinese yuan (US$3.1) which made its market value top Hon Hai's for the first time, and the gap has continued to widen. On Tuesday, FII rose 10 ... ( read original story ...)
Trap or treat? Funds to raise billions for tech IPOs in China
SHANGHAI (Reuters) - Asset managers began fundraising for six ... and the money will be used to fund mainland listings of homegrown tech firms such as smartphone maker Xiaomi [IPO-XMGP.HK] and e-commerce giant Alibaba Group Holding. The launch of the ... ( read original story ...)
Why China stock market remains lackluster
The Shanghai Composite Index rose 9.41 percent in 2015 ... Even compared to deposits, the stock market pales in returns. One can get a guaranteed return of 4 percent from a three-year time deposit. That means they can obtain an accumulative risk-free ... ( read original story ...)
Foxconn unit sets record-high market value on Shanghai debut
TAIPEI -- Foxconn Industrial Internet, a unit of Hon Hai Precision Industry, jumped 44% in its Shanghai Stock Exchange debut on Friday, increasing in value to a record high of 390 billion yuan ($60.92 billion) on the Chinese A-shares market. FII’s market ... ( read original story ...)