Category: Shanghai News

China highly criticizes Ant Group, tells company to switch back to its mainstay payments business

Chinese financial regulators moved to rein in Ant Group Co., the financial-technology giant controlled by billionaire Jack Ma, telling it to switch its focus back to its mainstay payments business and ……


Companies in Balancing Acts Amidst Uncertainties in China’s Evolving Data Transfer Regime

which proposed to expand the CSL’s data localization requirements beyond CIIOs to all “network operators” – essentially any enterprise in China that makes use of the internet, according to Han Kun Law ……


China lifts yuan midpoint to strongest level in 30 months

China’s central bank on Monday lifted its official yuan midpoint to the strongest in 30 months, underpinned by solid gains in spot prices last Friday….


SMM Morning Comments (Dec 28): Shanghai base metals were mostly higher as data shows China’s industrial profits rose in November

Shanghai base metals advanced for the most part on Monday morning as data showed that China’s industrial profits rose in November. Profits at Chinese industrial firms in November rose 15.5% as ……


In China’s Covid-19 vaccine race, five stocks are on analysts’ watch list as clinical trials end, production anticipated

Chinese companies are edging closer to commercialising their Covid-19 vaccine candidates, making it an opportune time to draw up a shortlist of local drug developers and supply-chain players even ……


Mainland China reports 21 new COVID cases vs 22 a day earlier

Mainland China reported 21 new COVID-19 cases on Dec. 27, down from 22 cases a day earlier, the country’s national health authority said on Monday. The National Health Commission, in a statement, ……


China orders Alibaba’s Jack Ma to overhaul Ant fintech business – Jaweb

China’s central bank said on Sunday it had asked the country’s payments giant Ant Group Co Ltd to shake up its lending and other consumer finance operations, the latest blow to its billionaire founder ……


China pushes Ant Group overhaul in latest crackdown on Ma

China’s central bank disclosed on Sunday it had asked the country’s payments giant Ant Group Co Ltd to shake up its lending and other consumer finance operations, the latest blow to its billionaire ……


China Records Highest Locally Transmitted COVID-19 Cases in 2 Months

BEIJING – China detected on Saturday 12 cases of COVID-19 that were transmitted locally, seven of them in the northeastern province of Liaoning and five in the capital Beijing, the National Health ……


China orders massive financial tech firm Ant Group to fix businesses

The meeting came after Chinese regulators last month halted Ant’s $37 billion stock debut in Shanghai and Hong Kong over regulatory changes, and comes just days after China announced an anti-monopoly ……