China Digest

Economics and policy from China’s newspapers

Wednesday September 20, 2017

Monthly wage in securities sector top Shenzhen’s average

Professionals in the securities and investment sectors in Shenzhen are taking home the biggest wage packets in the city with an average of 61,437 yuan (US$9,348) salary per month, the 21st Century Business Herald reported, citing a market wage guide released by the Shenzhen Municipal Human Resources and Social Security Bureau.

PBOC backs mortgage rate hikes in Beijing

The People’s Bank of China has supported a move by some Beijing banks to increase lending rates on mortgages, Yicai.com reported on Tuesday.

Wang Yupu appointed to work safety watchdog post

Wang Yupu, chairman of Sinopec Group, Asia’s largest oil refining and petrochemical enterprise, was appointed Communist Party Secretary of the State Administration of Work Safety, Caixin reported. By convention, Wang will also act as the director of the administration.

Foreign private equity fund management firms eye China

Over the past three months, three foreign private equity fund management firms —UBS, Man Investment and Fullerton Fund Management — have acquired licences for their businesses in China, as an increasing number of overseas fund management agencies enter the Chinese market, the 21st Century Business Herald reported.

Nine Guangdong private firms earned more than US$15 billion

Nine Guangdong-based companies earned more than 100 billion yuan (US$15 billion) in revenue last year, according to a new report on the province’s top 100 companies by revenue, according to Yicai.com.

Shenzhen Stock Exchange vows to ‘safeguard delisting system’

The Shenzhen Stock Exchange will “continue to follow the leadership of the China Securities Regulatory Commission, and implement strict supervision and delisting in accordance with the law in order to safeguard the system,” China Securities Journal reported, citing an official announcement.