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

May 16, 2024 19:58 PM

Former ICBC Vice President Arrested on Bribery Charges
Zhang Hongli also engaged in ‘superstitious activities’ and read books with ‘serious political problems,’ a corruption investigation finds
May 16, 2024 18:57 PM

China Rolls Out Stricter Rules for Quant Trading to Curb Market Volatility
Under the new regulations, stock exchanges need to monitor program trading in real time and set up standards to identify ‘abnormal’ moves
May 16, 2024 15:03 PM

Shanghai Composite Index Rose 0.08% on Thursday
Shenzhen Component Index closed up 0.21%
May 15, 2024 19:33 PM

China Fines KFC and Other Businesses for Rejecting Cash Payments
The central bank has hit seven companies, including a property developer, with penalties ranging from $414 to $7,600
May 15, 2024 18:26 PM

Bribes, Booze and Books Uncovered in Veteran Securities Regulator’s Corruption Probe
An Qingsong has been dismissed from the China Futures Association for misconduct that included accepting bottles of Moutai liquor and pushing his own writing on subordinates
May 15, 2024 17:30 PM

Former ICBC Anti-Graft Chief Charged With Taking ‘Huge’ Bribes
Liu Lixian also allegedly abused his power while working at scandal-plagued China Huarong Asset Management and the country’s top prosecutor
May 15, 2024 15:03 PM

Shanghai Composite Index Fell 0.82% on Wednesday
Shenzhen Component Index closed down 0.88%
May 15, 2024 04:13 AM

Charles Li’s Micro Connect Rallies Key Employees to Invest in ‘Leading Sheep’ Program
Core frontline employees are being asked to put their money into an investment program that aligns their interests with their company’s
May 14, 2024 20:10 PM

China’s Credit Contraction Caused by Changes to Banks’ GDP Calculation, Economists Say
The authorities have switched to a method that relies mostly on lenders’ profitability metrics, rather than growth in loans and deposits
May 14, 2024 17:06 PM

In Depth: China’s Weaker Insurers Skip Early Bond Redemptions Amid Growing Financial Stress
Several insurance companies have chosen to pay higher interest rates on their supplementary capital bonds rather than exercise an option to redeem them early, a sign they are facing solvency problems
May 14, 2024 15:03 PM

Shanghai Composite Index Fell 0.07% on Tuesday
Shenzhen Component Index finished nearly flat
May 14, 2024 05:24 AM

Mainland, Hong Kong Swap Connect Adds New Features to Attract Investors
New features for one-year-old Swap Connect program gives overseas funds easier access to Chain’s derivatives market
May 14, 2024 05:14 AM

China to Kick Off Issuance of $138 Billion Ultra-Long Bonds to Boost Economy
The first batch of the debt, comprising an unspecified amount of 30-year bonds, will be issued on Friday with the program of sales continuing until mid-November
May 13, 2024 19:41 PM

Exclusive: Two ChemChina Ex-Leaders During Syngenta Deal Hit With Corruption Probe
Former Chairman Ren Jianxin and ex-President Yang Xingqiang were involved in the controversial acquisition of the Swiss agrochemical giant in 2017
May 13, 2024 20:52 PM

Former Chinese Banker Likely Probed for ‘Revolving Door’ Corruption, Sources Say
Tong Wentao, a former executive at China Construction Bank, is likely being investigated for exploiting his influence at the lender after joining a private developer
May 13, 2024 19:03 PM

Curtailing Real-Time Stock Connect Data Will Make Market More Stable, Insiders Say
The move aims to bring the rules more in line with the practices of Chinese mainland bourses and curb speculation, experts say
May 13, 2024 15:03 PM

Shanghai Composite Index Fell 0.21% on Monday
Shenzhen Component Index closed down 0.6%
May 10, 2024 19:46 PM

Mastercard Starts Processing Yuan-Denominated Card Payments
U.S. giant’s local joint venture becomes the second such foreign player in China’s market
May 10, 2024 19:14 PM

Chinese Fugitive Behind Massive Bitcoin Money Laundering Arrested in U.K.
Qian Zhimin, the alleged mastermind behind a multibillion-dollar fundraising fraud in China, was picked up after years on the run, sources say
May 10, 2024 06:04 AM

Former ICBC Vice President Ousted From Party on Corruption Allegation
Expulsion comes after a six-month investigation by graft busters. The case now goes to authorities for review and prosecution