China Digest

Economics and policy from China’s newspapers

Monday September 4, 2017

Top securities regulator to further decentralize power

China’s top securities regulator published a draft rule on Friday aiming to give stock exchanges more power in regulating the market, Yicai.com reported. The China Securities Regulatory Commission (CSRC) released the draft rule with the aim of reforming current stock exchange management. According to the arrangement, the Shanghai and Shenzhen stock exchanges will be expected to enjoy more autonomy, including developing measures to deal with abnormal transactions, conducting on-site inspections and executing a certain degree of punishment.

TCL Communications plans joint venture in Argentina

The chairman of TCL Communications, Li Dongsheng, said on Sunday that the company is planning a joint-venture in Argentina as part of its “Belt and Road” drive, according to a report by Yicai.com. TCL, a Chinese company listed on the Shenzhen stock exchange and the Hong Kong stock exchange, is also behind the reboot of Blackberry and Palm.

BRICS’ New Development Bank pledges US$3 bln to green projects

The BRICS New Development Bank (NDB) has pledged US$3 billion in credit to 11 environmental and renewable energy projects, according to a report in Yicai.com. The news was announced by the deputy minister of China’s finance ministry, Shi Yaobin, at a press conference for the BRICS Business Forum at the coastal city of Xiamen.

60 ICO token distribution platforms face investigation

China’s remediation office of risks in internet finance has issued a list of domestic Initial Coin Offering (ICO) token distribution platforms, asking local regulatory authorities to carry out detailed investigations, the 21st Century Business Herald reported on Monday.