China Financial News and Headlines: stock markets, securities, banking and funds

May 10, 2024 05:54 AM

China Allows Bad-Asset Managers to Tap More Banking Assets
AMCs, which have played a vital role in defending China’s $63 trillion financial system, are being allowed to reach larger lenders
May 09, 2024 18:45 PM

Insurer Set Up to Rescue Anbang Fills Long-Vacant General Manager Post, Sources Say
Dajia Insurance Supervisory Board Chairman Sun Xianliang will fill the vacancy left by Xu Jinghui, who resigned in 2021
May 09, 2024 17:56 PM

Citibank Plows Ahead With Shuttering China Consumer Banking Business
U.S. lender stops offering insurance intermediary services, personal credit card transaction functions
May 09, 2024 15:03 PM

Shanghai Composite Index Rose 0.83% on Thursday
Shenzhen Component Index closed up 1.55%
May 08, 2024 17:01 PM

Retired ICBC Executive Expelled From Party for Bribery, Embezzlement
An Liyan, who once ran one of the bank’s Hong Kong-based subsidiaries, used company funds for personal expenses and accepted bribes from subordinates and clients, China’s anti-graft watchdog announces
May 08, 2024 19:51 PM

Asian Nations Can Direct Colossal Savings Into New Energy, Zhou Xiaochuan Says
An incentivizing mechanism should be established to direct these countries’ vast savings to benefit the global green transition, ex-PBOC governor says at a Boao Forum conference
May 08, 2024 18:10 PM

Ant Group-Backed Bank’s Bad Loan Ratio Jumps as Businesses Struggle
Indicator rises to 2.28% from 1.94%, after MYbank switched focus to business from consumer lending in the wake of government-ordered rectification of parent
May 08, 2024 15:03 PM

Shanghai Composite Index Fell 0.61% on Wednesday
Shenzhen Component Index closed down 1.35%
May 07, 2024 19:12 PM

Shanghai Insurance Exchange Appoints New Chief as Ex-Chair Falls to Probe
The bourse taps regulatory veteran Wang Zhe to fill vacancy left by Ren Chunsheng, sources say
May 07, 2024 17:59 PM

In Depth: Why Chinese PE and VC Firms Are Chasing Middle East Money
Firms are turning to the region’s sovereign wealth funds as it becomes increasingly difficult to raise capital from their traditional backers in China and the West
May 07, 2024 15:03 PM

Shanghai Composite Index Rose 0.22% on Tuesday
Shenzhen Component Index closed down 0.08%
May 07, 2024 05:37 AM

Citadel Securities Faces Rival Bid for Credit Suisse’s China Venture
BSAM steps into the bidding for Credit Suisse Securities with a potentially more attractive proposal
May 06, 2024 20:53 PM

Beijing’s Show of Resolve Helps Drive Hang Seng on 10-Session Win Streak, Analysts Say
Investors are regaining confidence in the Chinese market after a recent Politburo meeting showed policymakers’ commitment to fixing economic problems
May 06, 2024 15:03 PM

Shanghai Composite Index Rose 1.16% on Monday
Shenzhen Component Index closed up 2.0%
May 03, 2024 17:39 PM

China Tightens IPO Requirements for STAR Market Hopefuls
Regulators have imposed tougher qualifications for R&D investment and marketable patents with the aim of improving the quality of companies listed on the science and technology innovation board
May 02, 2024 18:01 PM

Haitong Securities Decides to Remove Hong Kong Unit’s CEO After Big Losses, Sources Say
Under Lin Yong’s leadership, Haitong International Securities built up a business that rose — and fell — with China’s real estate industry
May 02, 2024 20:13 PM

China Signals Support for Private Funds With Toned-Down Rules
Regulators have softened proposed requirements, including parameters for forcing small funds into liquidation, and given them more time to adapt to the new framework
Apr 30, 2024 19:35 PM

Two of China’s ‘Big Four’ Banks Pick New Presidents, Sources Say
Positions at ICBC and CCB became vacant earlier this year when their incumbents were promoted to chair the lenders
Apr 30, 2024 17:25 PM

HSBC CEO Noel Quinn Unexpectedly Steps Down
The bank’s board has begun a formal process to find a successor, and will consider both internal and external candidates, according to a statement
Apr 30, 2024 15:03 PM

Shanghai Composite Index Fell 0.26% on Tuesday
Shenzhen Component Index closed down 0.9%