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Micro Connect, an investment platform co-founded by Charles Li, the former boss of Hong Kong’s stock exchange is helping China’s small businesses raise funds from foreign capital. Here’s how it works.
‘In the future, every consumer in the world will use Miniso’s products like they turn to Nike for sneakers, Starbucks for coffee and Coke for drinks,’ says boss of the Chinese discount lifestyle chain.
The 146-year-old metal trading bourse is doing something every day to earn investors’ trust, CEO Matthew Chamberlain says. This includes a two-year action plan to revive its markets.
The bourses, both owned by Hong Kong Exchanges and Clearing, are together studying the possibility of offering investors the chance to buy and sell contracts of lithium carbonate, nickel sulphate and cobalt, said Dong Feng, general manager of the QME.
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The Pan African lender, which expects to launch the advisory office by the year-end, is awaiting approval from South African authorities.
Chinese banks are slashing interest rates for depositors as consumer savings surge in a slowing economy, seeking to protect interest margins amid pressures from Beijing to cut lending rates.
Dozens of employees protested against a vendor providing IT services to Shanghai Pudong Development Bank on Thursday, a rare strike in China that has gone viral amid mounting concerns about a slumbering economy.
During the five-day May Day holiday last week, long queues and crowds were seen at the country’s theme parks, a sign they have become ‘early beneficiaries’ of a tourism recovery after Beijing abandoned its tough pandemic restrictions.
Banks in Zibo in Shandong province, recently dubbed the ‘outdoor barbecue capital’, are offering fast, cheap loans to restaurants and suppliers in a bid to capitalise on the craze as competition among Chinese lenders for good borrowers intensifies.
The five-day ‘golden week’ unleashed a tourism frenzy in mainland China as frustrated travellers cast off the shackles of Covid-19 and flew further afield and in far greater numbers than at any time in the last three years.
The authorities are likely to keep rolling out incentives to support mainland China’s property sector as April’s home sales look set to tank, according to analysts.
Tesla is increasing the price of its China-made EVs amid a plunge in profits, four months after it sparked a price war among makers of new-energy vehicles in China by offering deep discounts on its cars.
The project will be developed by property developer Hongkong Land, China Travel Service (Hong Kong) and West Bund, which is backed by the government of Shanghai’s Xuhui district.
Executives in the banking and brokerage sectors have taken massive pay cuts, with the Communist Party’s top disciplinary watchdog warning that pay in the sector was much higher than in other industries.
The crux of the debate in the fastest growing EV market, where 60 per cent of new vehicles entering China’s roads are expected to be electric by 2030 is what the perfect EV looks like.
The carmaker reported that net profit fell to 4.13 billion yuan (US$596.28 million) in the first quarter, down from 7.3 billion yuan in the fourth quarter as potential buyers anticipated bigger price cuts.
The deadline to list Zhuhai Wanda Commercial Management Group lapsed on Tuesday, the Hong Kong stock exchange said, putting parent Dalian Wanda Commercial’s bonds under further pressure.
Tiger Brokers is seeking to make up for lost ground in Hong Kong by delivering cheaper and innovative services to attract new clients. It has Futu and 600-odd stock brokers to contend with.
The centrally located and historically significant district offers up to US$2.5 million in subsidies for Hong Kong businesses and professionals, and welcomes bids on 2 million square metres of land.
The Shanghai government is auctioning 19 plots measuring a combined 2.82 million sq ft at a four-day sale. The city’s land authority sold five plots on the first day.
The CSRC is investigating Hong Kong-listed brokerage GF Securities for an inadequate review of shares issuance, amid the country’s full embrace of a market-oriented IPO system.
For BYD, set up 28 years ago in Shenzhen by a former chemist, the secret of its success was its founder’s dogged belief that batteries would one day be the dominant power source.
Fidelity believes the time is ripe to launch fund products in China as Beijing’s market friendly policies and the country’s positive economic outlook improve investment environment.
Major banks have reported declining net interest margins, a crucial measure of their profitability, while the struggling property market portends slower growth, if not an outright contraction, in new mortgage applications.
While some international cities that are well-equipped with hotels and airports are ‘artificial’ and ‘super boring’, Hong Kong is also ‘full of charm’, says Ronnie Chan Chi-chung of Hang Lung Properties.
‘Some players will be eliminated, while some will grab a bigger market share,’ says Wang Chuanfu, founder, chairman and president of Chinese carmaker BYD.
Sunac China’s sweetened proposal for US$9.1 billion in offshore debt follows a similar offer by China Evergrande last week, as developers take advantage of improving sentiment.
China’s expected economic revival will leave fallen property tycoons behind, missing the crucial liquidity train. The window to reorganise their offshore debts may be closing, as talk about another recession persists.
A day after China Evergrande Group unveiled its long-awaited restructuring plan for as much as US$19.15 billion in offshore debt, its EV unit says it will not survive if it cannot tap new financing.
The future of financial technology in Hong Kong will rely on young people with new ideas, and the city offers many advantages that will help to nurture the sector, industry leaders told the Greater Bay Area Fintech Talent Summit on Thursday.
