Premier says economy on track to meet targets this year
The most important and market-moving stories from the Chinese-language media
Chinese Premier Li Keqiang said economic indicators have been better than expected and put the country on course to meet its economic goals this year, China News Services reported.
Shenzhen-Hong Kong Stock Connect starts Nov. 21
The Shenzhen-Hong Kong Stock Connect to allow trading between the two bourses will start on November 21, according to cfi.net, citing brokerage firms. The partners will run a rehearsal on Nov. 19.
LeEco secures US$600 million funding
China technology company LeEco has secured US$600 million funding from corporate investors after the founder Jia Yueting said the group’s expansion has strained finances, financial weekly Caixin reported. Part of the funds will be available this month.
PBOC may take stake in online clearing house
China’s central bank may take a stake in an online transaction clearing house and the two dominant non-banks in China, Ali Pay and Ten Pay, will not lead the project, Caixin reported, citing people in the bank familiar with the plan. It will start operation on Mar. 31 next year.
PBOC sees progress in digital currency
The prototype digital currency issued by the People’s Bank of China will likely be trialed in the commercial paper market, said Yao Qian, the deputy director of the bank’s Technology Bureau in an interview with Shanghai Securities Journal. The date for launch hasn’t been set.
Fujian to deregulate natural gas prices
Fujian province will start a pilot program to deregulate natural gas prices, according to the website of the National Development and Reform Commission.
Shenzhen tightens property purchase rules
Shenzhen’s government raised the required down-payments on individuals buying first and second houses and will prohibit loans for third homes, reported Caixin. Shenzhen and more than 20 other cities have rolled out regulations to curb property speculation since last month.