Banking & Finance « Week In China - Part 5

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Banking & Finance

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CSRC bans “female Buffett” from share trading
Nov 24, 2017 (WiC 389)

For Chinese viewers Zhao Wei is best known for her role as “Little Swallow” in the 1998 TV series My Fair Princess but more recently she has earned the more titanic reputation as “China’s female Buffett” or even “the ...

China to remove ceiling for foreign ownership in financial firms
Nov 17, 2017 (WiC 388)

It is almost 11 years since the first meeting of the China-US Strategic Economic Dialogue in Beijing. The brainchild of the then US Treasury Secretary Hank Paulson, it covered a wide range of issues but one in particular was consistently pushed ...

China is on track to develop the world’s largest cashless economy
Nov 3, 2017 (WiC 386)

China has been credited as the place where paper money was invented, appearing first as unofficial IOUs written by Sichuanese merchants, and later as government-backed alternatives to metal coins. Today the Chinese are edging away from this much ...

Chinese micro-lender Qudian completes fourth-largest IPO this year
Oct 27, 2017 (WiC 385)

Issuing credit to people with no credit history has always been challenging for lenders. The problem gave birth to some innovative solutions. Consumer loan issuer CashBUS, for example, evaluates the creditworthiness of its customers by ...

Why four year-old ZhongAn Insurance has become an investor darling
Oct 20, 2017 (WiC 384)

Jack Ma, Pony Ma and Peter Ma could be termed China’s ‘thoroughbred trio’. The three tycoons share the same surname – Ma – which means ‘horse’ in written Chinese. So perhaps it’s no coincidence that investors seem ready to have a ...

Alibaba joins CK Hutchison in epayment JV
Oct 6, 2017 (WiC 383)

Often described as the financial capital of Asia, Hong Kong has fallen behind its mainland counterparts in implementing cashless payment systems. Jack Ma has even critiqued: “What is lacking in Hong Kong is the spirit of innovation, which ...

Postal Saving Bank plans homecoming via A-share market
Sep 15, 2017 (WiC 380)

It has long been a case that the postman doesn’t knock twice for some of China’s regional and rural commercial banks. Nearly every single one that’s listed in Hong Kong has been queuing for some time to go public in Shanghai, where ...

Famed “ghost town” now home to world’s largest Bitcoin miner
Sep 15, 2017 (WiC 380)

Ordos, a city in Inner Mongolia, grew in line with China’s thirst for coal. Now those plentiful pits have helped a new form of twenty-first century mining to prosper. Bitmain is the world’s largest miner of Bitcoin. Although its ...

Legend buys Luxembourg’s oldest private bank
Sep 15, 2017 (WiC 380)

Throughout its history, the Grand Duchy of Luxembourg has been subject to the push and pull of competing regional powers including the Dutch, Belgians, Germans and French. During the nineteenth century, in particular, the territory ended up ...

China outlaws virtual coin-based fundraising
Sep 8, 2017 (WiC 379)

When the world’s leading cryptocurrency, Bitcoin, was conceived it was intended to be a decentralised currency with no point of authority determining its worth. As cryptocurrencies have moved towards the mainstream, that autonomy has been ...

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