The Best Reads of the Week From Caixin
Asset management and microlending are the latest financial subsectors in China that are facing stricter oversight. To curtail financial risk and rapid growth, the central bank and various regulatory bodies have proposed sweeping rules to plug loopholes in the $15 trillion asset-management market, and rolled out a slew of measures to weed out improper or even illegal practices among microlenders.
Lots of news in the Hong Kong stock market too. In the second half of 2018, companies with two tiers of owners like Alibaba will finally be able to float their shares on the city’s bourse. Northbound investors in the stock-connect programs will also have to trade in real names like their counterparts in mainland China.
The child abuse scandal at a Beijing kindergarten operated by New York-listed RYB Education Inc. continued to ripple through the headlines. Police have detained several teachers; at least three district education officials are being investigated; and parents have filed at least six class-action lawsuits. The company’s shares plunged more than 40% at one point.
China’s restaurant industry may soon find that waiterless establishments are on the menu. Companies including Alibaba-affiliate Koubei and fast food chain Dicos have recently showcased futuristic restaurants that can automatically take orders, serve food and handle bills.
These are four stories that I don’t want you to miss. Please share your comments on The Weekender section and on our other coverage at email@example.com.
And when you’re done perusing these must-read stories, check out Caixin’s weekly digital magazine.
The People's Bank of China (above) and other regulatory bodies have unveiled a draft regulation that the central bank says aims to reduce arbitrage and ensure the healthy development of the entire asset management sector. Photo: Visual China
Paul Chan, Hong Kong’s financial secretary, said that accepting companies with “dual class” stock appears to be an irresistible move, and the city must change the way it does things to maintain competiveness. Photo: Visual China
At least six law firms have filed or threatened class action lawsuits against RYB Education Inc. over the last two days following a plunge in its share price a week earlier. Photo: Chen Weixi/Caixin
Several Chinese companies have recently showcased futuristic waiterless restaurants that can automatically take orders, serve food and handle bills. Photo: Visual China
- 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