Skip to content
  
  

Zxcoachoutlet

Business

Menu
  • business
  • finance
  • insurance
  • money
  • personal

Tag: Chinese

White House Curbs on Chinese Payment Apps Pose Risk to Ant

October 8, 2020
| No Comments
| business

(Bloomberg) — The Trump administration’s potential restrictions on two Chinese payments giants would reverberate far beyond politics, potentially affecting multibillion-dollar deals, shaking up international commerce and even shaping the evolution of the global financial system.



a person sitting on display in a store: An advertisement for Tencent Holdings Ltd.'s WeChat Pay digital payment service is displayed outside a restaurant in Hong Kong, China, on Tuesday, Sept. 1, 2020. WeChat Pay and Ant Group's Alipay account for the majority of the mobile payments transactions in China.


© Bloomberg
An advertisement for Tencent Holdings Ltd.’s WeChat Pay digital payment service is displayed outside a restaurant in Hong Kong, China, on Tuesday, Sept. 1, 2020. WeChat Pay and Ant Group’s Alipay account for the majority of the mobile payments transactions in China.

U.S. officials have stepped up behind-the-scenes talks in recent weeks about possibly restricting the expansion of Ant Group’s Alipay and Tencent Holdings Ltd.’s WeChat Pay over concerns that the digital payment platforms threaten national security, Bloomberg reported on Wednesday.

Loading...

Load Error

Read more: U.S. explores curbs on Ant Group, Tencent payment systems

If the administration proceeds, the most immediate hit would be to Ant Group’s plan for a stock listing in

… Read More

Read More »

Posted in %1$s Tagged %1$s

Chinese property developers’ rising debt and junk bonds

October 7, 2020
| No Comments
| business

A pedestrian crosses a road in front of residential buildings in Beijing, China.

Qilai Shen | Bloomberg | Getty Images

SINGAPORE — Rising debt of Chinese property developers are in the spotlight again, as liquidity issues at top developer China Evergrande trigger investor concerns.

China’s property prices rebounded quickly as the economy reopened after the worst of the pandemic passed. Still, authorities are expected to officially rein in on borrowing costs of developers — outlining rules that cap the ratios of their debt in relation to their cash flows, assets and capital levels.

A leaked document last month regarding the cash flow of Evergrande, China’s second-largest developer by sales, has further highlighted concerns of the liquidity flows of Chinese developers.

Analysts warn it’s also raised the pressure on the developers’ ability to repay their debts in the bond markets going into 2021.

China’s property developers are among the biggest junk

… Read More

Read More »

Posted in %1$s Tagged %1$s

Chinese Pet Clinic Picks Banks for $500 Million IPO, Sources Say

October 6, 2020
| No Comments
| business

(Bloomberg) — New Ruipeng Pet Healthcare Group Co. has chosen banks to lead an initial public offering that could raise more than $500 million, according to people familiar with the matter.



A dog's paws rest at the base of an acupuncture stand at the GuoGuo TCM (Traditional Chinese Medicine) Neurology and Acupuncture Animal Health Center in Shanghai, China, on Saturday, Feb. 10, 2018. China enters the lunar Year of the Dog on Feb. 16.


© Bloomberg
A dog’s paws rest at the base of an acupuncture stand at the GuoGuo TCM (Traditional Chinese Medicine) Neurology and Acupuncture Animal Health Center in Shanghai, China, on Saturday, Feb. 10, 2018. China enters the lunar Year of the Dog on Feb. 16.

The Chinese pet clinic operator picked China International Capital Corp., Credit Suisse Group AG and Morgan Stanley for the planned listing, which could take place as soon as early next year, the people said. The company is considering Hong Kong or the U.S. as a potential listing venue but hasn’t made a final decision, said the people, asking not to be identified as the information is private.

Loading...

Load Error

The Hillhouse Capital-backed firm completed

… Read More

Read More »

Posted in %1$s Tagged %1$s

Major Chinese Banks Make Rare Cuts to Foreign Currency Deposit Rates | Investing News

September 29, 2020
| No Comments
| business

SHANGHAI (Reuters) – Chinese commercial banks have made rare cuts to their foreign currency deposit rates in recent weeks to reflect the easier monetary policies of overseas economies grappling with the fallout from the coronavirus pandemic.

The move is expected to encourage Chinese companies and households to covert their often large foreign currency holdings to yuan and dampen speculative purchases of foreign currencies, analysts said.

Bank of Communications <601328.SS> <3328.HK> said on Saturday that it was lowering interest rates on deposits below $3 million in certain foreign currencies.

The one-year dollar deposit rate at all of China’s “big five” state banks now stands at 0.35% which compares with levels of 0.75-0.8% previously, according to data from the lenders.

In contrast, the benchmark one-year yuan deposit rate is much higher at 1.5%. Long betting that the yuan would eventually depreciate, Chinese companies and households have heavily invested in foreign currency assets.

… Read More

Read More »

Posted in %1$s Tagged %1$s

Chinese Investors Flock to Newly-Launched Funds Targeting Ant IPO | Investing News

September 28, 2020
| No Comments
| business

SHANGHAI (Reuters) – Chinese investors are pouring into newly-launched mutual funds targeting Ant Group’s upcoming initial public offering, underscoring strong demand for technology shares at a time when Chinese tech firms are facing increasing U.S. scrutiny.

Alibaba Group’s

fintech arm Ant Group aims to raise about $35 billion in a dual listing in Hong Kong and Shanghai’s STAR Market, expected in October, in what could become the world’s largest IPO.

Two of the five new funds launched on Friday to give Chinese retail investors access to strategic stakes in Ant’s IPO had already reached their fundraising target and stopped accepting new investments, their fund managers said.

The five funds are targeting a combined 60 billion yuan ($8.80 billion), with each fund aiming to raise up to 12 billion yuan over a two-week subscription period.

The early interest shows appetite for Chinese tech shares remains strong despite recent stock market corrections.

… Read More

Read More »

Posted in %1$s Tagged %1$s

Chinese Stocks Underpin Asia; Markets Wary of Virus Spike, U.S. Presidential Debate | Investing News

September 28, 2020
| No Comments
| business

SYDNEY (Reuters) – Chinese stocks drove Asian markets higher on Monday, though sentiment was still cautious ahead of a U.S. Presidential debate and as a spike in new coronavirus cases undermined global economic recovery hopes.

MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.5% to 550.47, but still within striking distance of a two-month low of 543.66 hit last week.

The index is set to end the month deep in the red after three straight monthly gains as the pandemic continues to wreak economic havoc around the world and raises investor anxiety about sky-high valuations.

Chinese shares opened higher and helped to underpin Asian markets after a tentative start, with the blue-chip CSI 300 index up 0.85%. Shanghai’s SSE climbed 0.5%.

Encouragingly, data over the weekend showed profits at China’s industrial firms grew for the fourth straight month in August buoyed in part by a rebound in commodities prices

… Read More

Read More »

Posted in %1$s Tagged %1$s

Chinese Companies Head Home to Raise Money, as Beijing’s Relations With U.S. Fray

September 27, 2020
| No Comments
| money

China’s most ambitious and fastest-growing companies once flocked to U.S. markets to raise money. Now rising U.S. hostility and the increased attractions of listing closer to home are tipping the scales toward Hong Kong and Shanghai.

Since November, eight Chinese companies that originally went public on the New York Stock Exchange or the

Nasdaq

Stock Market have added listings in Hong Kong, raising a total of $25.6 billion, according to Refinitiv. These companies, with a combined market capitalization of nearly $1 trillion, include e-commerce giant

Alibaba Group Holding Ltd.

and

Yum China Holdings Ltd.

, China’s biggest restaurant operator.

The pace of such partial migrations has picked up this summer, as tensions between the U.S. and China have escalated, and more are likely to follow, bankers, analysts and investors say. The companies are maintaining their U.S. listings, but having stock traded in Hong Kong is a safety net if they

… Read More

Read More »

Posted in %1$s Tagged %1$s

Chinese Industrial Companies’ Profit Grows for Fourth Month

September 27, 2020
| No Comments
| business

Inside Huawei Technology's Campus as Company Sues U.S. Over Equipment Ban in Escalating Legal Clash

Photographer: Qilai Shen/Bloomberg

Photographer: Qilai Shen/Bloomberg

Profits at Chinese industrial enterprises grew for a fourth consecutive month, as the country’s factories maintained momentum following the pandemic shutdown.

Industrial profits rose 19% in August, after July’s 19.6% increase, data from the National Bureau of Statistics showed Sunday. For the first eight months of the year, it was still down 4.4% from a year earlier.

The increase was due to factors including the continued recovery of production and demand as well as falling costs and fees for companies, the bureau said in a statement accompanying the data release. The bureau also pointed to a recovery in mining industry profitability and rapid growth in profits for equipment manufacturers.

The continued growth in profits was accompanied by a recovery in industrial output and slowing producer price deflation. However, that momentum could fade if the surprisingly strong export growth slows or domestic consumer demand doesn’t

… Read More

Read More »

Posted in %1$s Tagged %1$s

Luckin Coffee Announces the Receipt of Penalty Decisions from the Chinese State Administration for Market Regulation

September 26, 2020
| No Comments
| business

BEIJING, Sept. 23, 2020 (GLOBE NEWSWIRE) — Luckin Coffee Inc. (the “Company” or “Luckin Coffee”) (OTC:LKNCY) today announced the receipt of penalty decisions (the “Penalty Decisions”) from the Chinese State Administration for Market Regulation and certain of its sub-bureaus (collectively the “SAMR”). The SAMR imposed an aggregate fine of RMB61.0 million on two Luckin Coffee entities and certain implicated third-party companies (“Implicated Companies”) due to their involvement in the fabricated transactions, which the Company disclosed in its press release on April 2, 2020 (the “Fabricated Transactions”). Pursuant to the Penalty Decisions, the conduct related to the Fabricated Transactions violated the PRC Anti-Unfair Competition Laws.

The Company is fully committed to cooperating with the SAMR, and will dedicate all necessary resources to ensure full compliance by the Implicated Companies with the Penalty Decisions.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the

… Read More

Read More »

Posted in %1$s Tagged %1$s

China Finance China Banking, China Banks, China Finance Information, Chinese Currency

May 12, 2020
| No Comments
| finance


Books on this topic
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 





China Information/Sources

China Finance / Banking

 



 


What people outside China say?


  •  What is the average financial
    intelligence of Chinese people?

    (link to full story
    )
  • China’s E-Payment Boom (link
    to full story
    )
  • China Currency Internationalization: A
    Moving Feast (link
    to full story)
  • Renminbi: Chinese currency could become
    the next safe haven
    By Josh Noble (details)
  • [Viewpoint] China’s new currency policy
    – The Chinese government might alter its
    currency policy to reduce portfolio
    risks and contain domestic inflation. (click)
  • China’s old bad banks run new risks – By
    Henny Sender (click for details on

    Financial Times
    )
  • China to become global banking king
    by 2023: Report
    (click
    for details)
  • A sudden rise in the yuan would solve
    nothing
    (click
    for details
    )
  • Analysis: Offshore yuan market
    foreshadows China bond market (click
    for details
    )
  • China’s Self-Defeating Currency Policy –
    Although a
… Read More

Read More »

Posted in %1$s Tagged %1$s

Posts navigation

1 2 Next

Recent Posts

  • Barrett says George Floyd video was ‘very personal’ for her family
  • M1 Finance closes $45M Series C mere months after it raised its $33M Series B
  • The Wake Up for Wednesday, Oct. 14, 2020
  • Business Leaders from Finance, Technology, Retail and Hospitality Call For Civility and Patience Ahead of The 2020 Election | News
  • Personal Preparedness is a Year-Round Commitment and More Important Than Ever

Archives

  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020

Categories

  • business
  • finance
  • insurance
  • money
  • personal
April 2021
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930  
« Oct    

Tags

Announces Bank Big billion Business Buy Car Company Coronavirus COVID19 deal Debate demand dollar finance Financial Global Group Growth Health Home insurance Investing Investors IPO Jobs Life Market Markets million money News Oil Pandemic personal Recovery report September shares Stimulus Stock stocks Talks Top Trump

About Us

  • Advertise Here
  • Contact Us
  • Privacy Policy
  • Sitemap

Hairstyle 2020 | All Rights Reserved.

Hairstyle theme by Flythemes