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

Aug 15, 2023 04:55 AM

Third-Party Payment Industry Consolidates as Prepaid Card Issuers Exit
Prepaid card issuers suffer as business contracts; some exit as PBOC revokes licenses for failing to meet industry requirements, others drop out
Aug 14, 2023 20:36 PM

Country Garden Plans to Extend One Bond by Three Years, Sources Say
Eleven onshore bonds issued by the property giant and two of its subsidiaries were suspended from trading on Monday, heralding debt restructuring negotiations
Aug 14, 2023 15:03 PM

Shanghai Composite Index Fell 0.34% on Monday
Shenzhen Component Index closed down 0.5%
Aug 12, 2023 20:07 PM

Zhongzhi-Linked Trust Company Fails to Repay Maturing Products
Two customers of Zhongrong International Trust fear they may not be able to recoup tens of millions spent on the products
Aug 12, 2023 04:18 AM

Hong Kong, Mainland Stock Connect Expands to Include Block Trades
Accord will ease large deals in further expansion of programs enabling investors in Hong Kong and on the mainland mutual access to China’s bourses
Aug 12, 2023 03:43 AM

Caixin Explains: The Financial Woes Behind Country Garden’s Missed Bond Payments
The developer says it expects a net loss as high as $7.6 billion in the first half of this year, raising further concerns among investors about its liquidity
Aug 11, 2023 15:03 PM

Shanghai Composite Index Fell 2.01% on Friday
Shenzhen Component Index closed down 2.18%
Aug 11, 2023 05:15 AM

Country Garden Expects to Report Record First-Half Loss
Amid looming debt crisis, Chinese property giant estimates red ink totaling $6.2 billion to $7.6 billion for first six months
Aug 10, 2023 04:03 AM

China Renaissance Founder Bao Fan Remains in Custody
Authorities extend detention of top investment banker in investigation after his February disappearance rattled financial markets
Aug 10, 2023 03:43 AM

Hainan Plans Second Dim Sum Bond Sale in Hong Kong
Island province issues invitation for bids from underwriters to carry out borrowings for sustainability projects
Aug 09, 2023 18:24 PM

Yuan Transactions Hit Record in Russia
The Chinese currency was on one side of 44% of forex trades on the Russian exchange-traded market last month, up from 39.8% in June
Aug 09, 2023 04:38 AM

Exclusive: Three Wanda Executives Under Police Investigation
Investigation involves a ‘huge amount’ of money in eastern China project, person close to the matter tells Caixin
Aug 09, 2023 04:19 AM

In Depth: Country Garden’s Troubles Mount as It Misses Offshore Bond Interest Payment
Guangdong-based developer is one of the few major property groups to have avoided defaulting on bonds so far, but a slump in sales has left it struggling
Aug 08, 2023 15:03 PM

Shanghai Composite Index Fell 0.25% on Tuesday
Shenzhen Component Index closed down 0.42%
Aug 07, 2023 20:55 PM

Chart of the Day: Foreign Investment in China Tumbles on Overseas Headwinds
FDI in the Chinese mainland totaled $4.9 billion in the second quarter, its lowest quarterly level in more than two decades
Aug 07, 2023 15:03 PM

Shanghai Composite Index Fell 0.59% on Monday
Shenzhen Component Index closed down 0.83%
Aug 05, 2023 06:21 AM

Morgan Stanley Targeted for Shanghai Compliance Inspection
CSRC picks American securities unit and Changjiang Finance Services for random on-site governance and business reviews
Aug 04, 2023 21:15 PM

In Depth: Yi Gang’s Legacy After Five Years Running China’s Central Bank
The former PBOC governor, who stepped down last month, spearheaded interest rate reform, helped reduce risks in the financial system, and supported the green and digital transformation of the financial sector
Aug 04, 2023 20:53 PM

As China’s Markets Languish, New Rules Will Free Up Billions Idle in Stock Accounts
A reduction in cash required in investors’ settlement accounts, the third in almost four years, could unleash as much as 40 billion yuan of cash
Aug 04, 2023 15:03 PM

Shanghai Composite Index Rose 0.23% on Friday
Shenzhen Component Index closed up 0.67%