Economic News Roundup: Mar. 4
China Securities Journal-- According to delegates from the ongoing sessions of this year's annual NPC and CPPCC meeting, the IPO system will transition from approvals to registration under the 12th Five-Year Plan, with greater adoption of more market-oriented measures, deregulation and more effective supervision.
-- Shenzhen Stock Exchange Chairman Chen Dongzheng said the study of an exit mechanism for the GEM board is a top issue as conditions for a GEM delisting differ from those of the SME board.
-- According to Jilin Securities Regulatory Bureau director, Jiang Lianhai, a preliminary plan has been completed to expand Beijing's Zhongguancun Science Park's pilot program for over-the-counter (OTC) securities market. A trial program that allows local fund houses to raise offshore capital for investment in the domestic financial market, known as "mini QFII" will be launched soon with an initial cap of 20 billion yuan. The International Board is expected to be launched within the year.
-- The Ministry of Commerce strengthens its review process of foreign venture capital equity investments. Foreign investors need to seek regulatory approval when they try to reduce shareholding that is more than 5 percent of a listed company's overall equity.
-- During the 11th Five-Year Plan period, the average annual growth in fixed asset investments was 25.5 percent. Over the past five years, total investment in real estate development was 16 trillion yuan, with an average annual increase of 24.4 percent.
Shanghai Securities News
-- Central Bank stated that factors affecting the circulation of cash are becoming more and more complex, with demand for liquidity becoming increasingly hard to predict.
-- ICBC and China Everbright Bank currently have no A-share refinancing plans.
-- CICC Chairman Li Jiange said that the t-bond futures market will reopen promptly
-- China Merchants Bank President Ma Weihua called for the government to support commercial banks to participate in the futures market.
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- 1JD.com’s Richard Liu Steps Down From Key Positions, but Retains Control
- 2In Depth: How the Queen of Gree Won, Again
- 3Another Local Government Financing Vehicle Fails to Pay Bond Interest
- 4China’s Curing Cancer Faster and Cheaper Than Anywhere Else
- 5Exclusive: Tewoo Offshore Bondholders Take Heavy Losses to Exit
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas