Shenzhen, China's fintech sandbox

Shenzhen, China's fintech sandbox

(ATF) China released a plan on Sunday about implementing pilot reforms in Shenzhen – Hong Kong’s neighbour – to develop the city into a model socialist city over the next five years. Now in its 40th year as a special economic zone, Shenzhen will be given more autonomy to manage ...

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Chinese regulators probing Ant IPO over 'conflict of interest'

Chinese regulators probing Ant IPO over 'conflict of interest'

China's securities regulator is probing a potential conflict of interest in fintech giant Ant Group's planned $35 billion stock listing, delaying approval for what could be the world's largest IPO, three people with direct knowledge of the matter said. The China Securities Regulatory Commission (CSRC) is looking into the role ...

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Santa PBOC to hand out “red packet” digital yuan

Santa PBOC to hand out “red packet” digital yuan

(ATF) The government of China’s southern megacity Shenzhen is giving away 50,000 electronic red packets, each containing 200-yuan ($29.5) worth of digital currency to select consumers in a digital currency pilot. The government will distribute the “red packets” through a lucky draw for spending at designated merchants in Luohu District, ...

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Tears and fears as China's property bubble deflates

Tears and fears as China's property bubble wobbles

(ATF) To see the human impact that the financial downturn is having on China, look no further than its freewheeling real estate market. Such has been the precipitous drop in prices recently that when owners of homes in a complex in Hefei were told their property values had halved to ...

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China’s five-year plan attracts investors’ attention

China’s 14th five-year plan attracts investors’ attention

(ATF) As China’s recovery continues to broaden out, investors will be watching closely to see how the country intends to integrate a strategic plan for its domestic development in light of heightened geopolitical concerns and a shifting and uncertain global economic backdrop, according to UBS economists. The plan is part ...

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Ant Group rakes in billions, while 'US pirates' ponder sanctions

Ant Group rakes in billions, while 'US pirates' ponder sanctions

(ATF) Ant, the financial arm of Alibaba Group, is organising the world’s largest IPO in Shanghai and Hong Kong. The move shows that China’s big IPOs are moving to Asia – away from New York, and US sentiment has proved rather negative. US President Donald Trump clearly hoped to throw ...

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Battle for rare earths escalates as Pentagon gets involved

Battle for rare earths escalates as Pentagon gets involved

(ATF) China Central Television's military channel has reported that the Pentagon is planning to use a law from the 1950s to 'militarise' rare earth production in the US. According to the Chinese report, the US government will not hesitate to use the National Defense Production Act to accelerate domestic production ...

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