DIRS.INFO The most relevant business & tech news

☆ China stock market: CSRC limits short-selling in latest effort to stem a rout
▼ + stars: | 2024-01-29 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China’s top securities regulator has limited short-selling, in its latest effort to stem a protracted $6 trillion-dollar stock market rout that began in 2021. The China Securities Regulatory Commission announced Sunday it would “fully” suspend the lending of restricted shares on bourses in mainland China. The Shenzhen stock exchange is the second-largest in mainland China after Shanghai. Bloomberg/Getty ImagesCalm returns but challenges remainChinese authorities have stepped up their measures to stem the stock market rout over the past week. A day later, in an unprecedented move, regulators said they were considering evaluating the performance of the heads of state-owned companies based on their stock market value.

Persons: Hong Kong CNN —, ”, Ken Cheung, Evergrande, ” Cheung, Hong, Li Yunze, Pan Gongsheng Organizations: Hong Kong CNN, China Securities Regulatory Commission, Mizuho Bank, Bloomberg, Shanghai Shenzhen, Administration of Financial, People’s Bank of China Locations: Hong Kong, bourses, China, Shanghai, Shenzhen

☆ China stock market: Calm returns after wild week but big challenges remain
▼ + stars: | 2024-01-26 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —It’s been a rollercoaster week for stocks trading in mainland China and Hong Kong. “For a sustained rally in China stocks, we think China will need to address the core of these concerns (predominantly property sector issues and US-China tensions),” the analysts added. In the 7 days to January 24, exchange-traded funds (ETFs) tracking Chinese stocks recorded large inflows of $12.6 billion, according to a Citi survey of global fund managers. Still, investors have been fleeing Chinese stocks over a much longer period because they are worried about the country’s economic prospects. The country is facing the prospect of a vicious cycle whereby lower demand leads to lower investment, lower production and lower income, thus causing even lower demand.

Persons: Hong Kong CNN — It’s, Hong, — haven’t, ” Nomura, “, Li Qiang, ”, Li Yunze, Pan Gongsheng, Florence Lo, HSI, Raymond Yeung, ” Yeung Organizations: Hong Kong CNN, Shanghai Shenzhen, ”, Shanghai Financial Exchange, Bloomberg, State, Supervision, Administration Commission, Administration of Financial, Reuters, People’s Bank of China, Citi, Enodo Economics, HSBC, Greater China, ANZ Research Locations: China, Hong Kong, Shanghai, United States, Beijing, Davos, Switzerland, Greater

☆ China tries to halt stock market rout by boosting lending and wooing foreign investors
▼ + stars: | 2024-01-24 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —China has vowed to pump more money into the economy and further open its $64 trillion financial industry to international investors, as Beijing scrambles to restore confidence following a massive stock market rout. The astonishing losses, reminiscent of the last Chinese stock market crash of 2015-2016, highlight a crisis of confidence among investors concerned about the country’s future. It will allow Hong Kong banks to expand their businesses in mainland China and reduce the barriers to investing in mainland insurers. Last month, China Reform Holdings, a state-owned investment fund, announced it had bought tech-focused index funds to support the market. The brutal sell-off in Chinese stock markets has even forced some hedge fund managers to apologize for making wrong bets.

Persons: Li Yunze, “, Pan Gongsheng, Goldman Sachs, Li, ”, Lam, Li Qiang, Wang Zhao, Premier Li Qiang, Stringer, Li Bei Organizations: Hong Kong CNN, Administration of Financial, People’s Bank of, Buildings, New Champions, Getty, Premier, Xinhua, Reuters, Securities Daily, Social Security Fund, China Reform Holdings, Central Huijin Investment, Shanghai Banxia Investment Management Locations: China, Hong Kong, Beijing, Shanghai, Shenzhen, People’s Bank of China, Victoria Harbour, British, Tianjin, AFP, Central, Fuyang, China's, Anhui

☆ China regulator to speed reform of smaller financial institutions
▼ + stars: | 2023-12-03 | by ( ) www.reuters.com time to read: +2 min

Li Yunze, director of China's National Financial Regulatory Administration (NFRA), speaks at the Lujiazui Forum in Shanghai, China June 8, 2023. REUTERS/Jason Xue/File Photo Acquire Licensing RightsBEIJING, Dec 3 (Reuters) - A key Chinese financial regulator said on Sunday it would accelerate reform of small and midsize financial institutions as it steps up its oversight of the sector. The National Financial Regulatory Administration (NFRA) will collaborate with the General Administration of Financial Supervision to tighten supervision of the financial industry other than the securities market, director Li Yunze said in an interview with state media Xinhua. It will promote small and midsize banking institutions to optimise their structure, improve quality and increase efficiency, Li said. “At present, the operation of China's financial sector is generally stable and the overall risk resistance is strong,” he said.

Persons: Li Yunze, Jason Xue, Li, ”, Mei Mei Chu, Christopher Cushing, William Mallard Organizations: China's, Financial Regulatory Administration, REUTERS, Rights, Administration, Financial, Xinhua, NFRA, Thomson Locations: Shanghai, China, Rights BEIJING

☆ China's central bank gets a new party secretary
▼ + stars: | 2023-07-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

Pan Gongsheng was named party secretary of the People's Bank of China on July 1, 2023. BEIJING — The People's Bank of China announced Saturday that Pan Gongsheng, head of the country's foreign exchange regulator, would become the central bank's party secretary. In a country ruled by the Communist Party of China, the party secretary of an institution typically holds the most sway. That institution was absorbed into the National Financial Regulatory Administration in a financial regulatory overhaul announced in March and is set to take effect this year. The administration's party secretary and director is Li Yunze, a rare minister-level appointee of the younger 1970s generation.

Persons: Pan Gongsheng, Gongsheng, Xi Jinping, Guo Shuqing, Li Yunze Organizations: People's Bank of China, Communist Party of China, China Banking, Insurance, Commission, National Financial Regulatory Administration Locations: BEIJING, Beijing, China

[1/4] Li Yunze, director of China's National Financial Regulatory Administration (NFRA), speaks at the Lujiazui Forum in Shanghai, China June 8, 2023. REUTERS/Jason XueSHANGHAI/BEIJING, June 8 (Reuters) - China is open for investment, the country's top financial regulators told foreign financiers at a high-profile forum in Shanghai on Thursday, as concerns mount among foreign firms that they may no longer be welcome. "Opening up is China's long-term national policy, and the door of China's financial industry will only be opened wider and wider." Yi Huiman, chairman of the China Securities Regulatory Commission, told forum participants that China will "adamantly" push for deregulation in terms of market access, institution qualification and products. Internal circulation will be supported by "external circulation," as in foreign financing and China's interactions with the global economy.

Persons: Li Yunze, Jason Xue, Goldman Sachs Group's, David Solomon, Tesla's, Elon Musk, Xi, Merrill Lynch, Li, Jane Fraser, Yi Huiman, Noah Fraser, Yi, Joe Cash, Shri Navaratnam, Edmund Klamann, Kim Coghill Organizations: China's, Financial Regulatory Administration, REUTERS, HSBC, Credit Agricole, Mizuho Financial, Paypal, China Securities Regulatory Commission, Canada China Business Council, Shanghai, Thomson Locations: Shanghai, China, Jason Xue SHANGHAI, BEIJING, U.S, flashpoints, Ukraine, South, Beijing, Inner Mongolia, Russia, Mongolia

☆ Citi CEO commits to China expansion, Beijing says
▼ + stars: | 2023-06-07 | by ( Selena Li | ) www.reuters.com time to read: +2 min

The CEO also held meetings with Citi staff and clients, which include some of the largest U.S. multinational companies with presence in China, a Citi spokesperson said. Fraser's first trip to China since taking up the CEO role in March 2021 follows a visits by JPMorgan's chief Jamie Dimon last week and by other global financial executives in March. Sequoia said on Tuesday it plans to spin off its Chinese business as part of wider changes at the U.S. venture capital giant. Li told Fraser that China will open up its financial sector further. Citi is in the process of getting approval to set up a securities brokerage in China, having submitted its application in late 2021.

Persons: Jane Fraser, Fraser, Li Yunze, Li, NFRA, Fraser's, Jamie Dimon, Sequoia, Selena Li, Nivedita Bhattacharjee, Navaratnam, Alexander Smith Organizations: National Financial Regulatory Administration, Citi, U.S, United States . International, Beijing, Thomson Locations: HONG KONG, BEIJING, U.S, Beijing, China, United States, China's, Hong Kong

☆ Citigroup CEO pledges to Beijing to continue China expansion
▼ + stars: | 2023-06-07 | by ( Selena Li | ) www.reuters.com time to read: +2 min

Fraser held a meeting with the head of China's new financial regulator on Monday, the National Financial Regulatory Administration (NFRA) said in a statement on Wednesday. Most of the CEOs were reluctant publicly express their enthusiasm in growing their China business, as they tread a fine line between showing commitment to China and not antagonizing the United States. Citi currently offers corporate and institutional banking, global markets, wealth businesses and other banking services in China. The U.S. lender started winding down its retail banking business in China last December due to a global strategy shift, a move set to impact about 1,200 local staff. China will open up its financial sector further, Li Yunze, chief of China's financial regulator told Fraser.

Persons: Jane Fraser, Fraser, Morgan's, Jamie Dimon, Li Yunze, Li, Selena Li, Nivedita Bhattacharjee Organizations: National Financial Regulatory Administration, Citi, Beijing, Thomson Locations: BEIJING, China, J.P, United States, The U.S, China's, Hong Kong

☆ China names head of NFRA as financial industry faces greater scrutiny
▼ + stars: | 2023-05-11 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —China has appointed the head of its powerful new financial watchdog, which was created as part of sweeping reforms aimed at reining in the $60 trillion industry. Currently, several provincial leaders had previous careers in the financial industry, including Wu Qing, vice mayor of Shanghai and formerly the chairman of the Shanghai Stock Exchange. China’s sprawling financial industry is coming under closer scrutiny as Xi and his key allies have asserted greater direct control over financial policy. For years, Xi has said the financial industry should better serve the real economy, including making money available to businesses that need it. To further consolidate control, according to analysts, the top anti-graft body has carried out a sweeping anti-corruption campaign in the financial industry, which has ensnared more than a dozen senior executives from state-owned financial institutions.

HONG KONG, May 10 (Reuters) - China will appoint Li Yunze as the head of a new financial regulator as part of a broader restructuring of its financial regulatory regime, three sources with knowledge of the matter said on Wednesday. Li, 52, a banking veteran and currently vice governor of southwestern Sichuan province, will take the helm of the National Financial Regulatory Administration (NFRA), the sources told Reuters. The NFRA is a new government body under the State Council tasked to supervise the multi-trillion dollar financial industry, excluding the securities sector. Li has a relatively low-profile in the sector compared to previous financial regulatory heads. In 2018, he was appointed as vice governor of Sichuan province.

Search resuls for: "Li Yunze"

10 mentions found