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To Know the Overview of the Market
and Have Insight into the Financial World
Market Insight
To Know the Overview of the Market
and Have Insight into the Financial World
News Summary
China's State Council raises Hong Kong RQFII quota to 500 bln yuan
The State Council, China's cabinet, has approved an increase in Hong Kong's Renminbi Qualified Foreign Institutional Investor (RQFII) quota, according to a statement by the People's Bank of China. The move will further satisfy demand for yuan-denominated assets by Hong Kong investors, further opening the financial market on the Chinese mainland, and strengthening financial ties between the two sides, the statement said.
China Insurance Regulator Carries out Special Rectification on the Filing Products of Property Insurance Companies
Beijing July 4 - To strengthen the insurance supervision and regulate the market, the China Insurance Regulatory Commission said on Tuesday, it has recently issued a notice to carry out special rectification on the filing products of the property insurance companies. The focus of the rectification work includes the existence of standardized innovation, speculation of concept and creation of gimmicks, designs that deviate from the insurance source, weak protection and irregular cleaning up of insurance products, 11 points in total, a press release published on CIRC website said.
Economic Hot Spots
Wal-Mart Discards Alipay in Western China Switch to WeChat Payment
Walmart, the US retailer, has ditched Alipay in favour of Tencent's mobile payments app in western China, dealing a fresh blow to Alibaba in the battle between the country's biggest tech groups to dominate the $15.5tn payments market. Payments have become a key battleground for the Chinese groups — both of which rank in the world's 10 most valuable companies — as they compete in markets spanning retail, entertainment and logistics.
Several cities in China introduced a new round of real estate purchase restriction policy
Chinese cities rolled out new measures for the second quarter in a bid to rein in their property markets, as National Bureau of Statistics figures showed new residential home prices remained stable in 15 major cities considered the "hottest markets" in February.
Investors Still Overwhelmed by China's Entertainment Industry
Western investors have long been beguiled by the sheer size of the Chinese market. But the reality has often failed to match their visions — just take the entertainment industry in China.
Expert Reviews
Hong Kong Stock Exchange relaxes rules and Xiaomi applies for listing in Hong Kong
HONG KONG — Xiaomi, the Chinese gadget maker that has become one of the world’s largest smartphone companies, has picked Hong Kong to list its shares in what is widely expected to be a major initial public offering.The choice is a victory for the Chinese city, which missed out on blockbuster stock offerings by Alibaba and other rising internet companies in mainland China in recent years. Just days ago, officials at Hong Kong’s stock exchange had loosened its rules to land some big tech stock offerings.
The total amount of various market entities in China exceeded 100 million
China tops the world in the number of business entities thanks to years of market access reform, according to the State Administration for Market Regulation.There were 100.24 million business entities across the country in March, including enterprises and individually-owned businesses. The figure makes China the largest nation of entrepreneurs in the world.
Industry Analysis
Hainan Island will build the country's largest free trade trial zone
China has decided to support Hainan in developing the whole island into a pilot free trade zone, and gradually exploring and steadily promoting the establishment of a free trade port with Chinese characteristics.President Xi Jinping made the announcement when delivering a speech at a gathering to commemorate the 30th anniversary of the founding of Hainan province and the Hainan Special Economic Zone last Friday.
International Monetary Fund predicts global economic growth of 3.9% this and next two years
The International Monetary Fund has forecast that 2018 will be the strongest year for global growth since 2011.In its new assessment of the World Economic Outlook, the IMF predicts growth this year and next of 3.9%.However, it warned that performance could be curtailed by trade barriers.It lists a number of risks that could lead to weaker performance than its main forecast, including what it calls policies that "harm international trade".The report refers to "waning support for global integration". It says increased trade barriers -- tariffs or other restrictions -- could harm sentiment in financial markets, disrupt global supply chains and slow the spread of new technology.
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