A pilot program allowing cross-border stock investment by investors in the Chinese mainland and Hong Kong will be subject to an initial total ceiling of 550 billion yuan ($90 billion) — 300 billion yuan for Hong Kong investors and 250 billion yuan for Chinese mainland investors, according to the China Securities Regulation Commission on Friday.
A pilot program allowing cross-border stock investment by investors in the Chinese mainland and Hong Kong will be subject to an initial total ceiling of 550 billion yuan ($90 billion) — 300 billion yuan for Hong Kong investors and 250 billion yuan for Chinese mainland investors, according to the China Securities Regulation Commission on Friday.
Combined profits of China's state-owned enterprises (SOEs) rose 3.3 percent year on year to 533.7 billion yuan (86.66 billion U.S. dollars) in the first quarter.
The China Securities Regulatory Commission and China Banking Regulatory Commission have released a guideline on commercial banks issuing preferred shares to replenish core capital.
Alibaba Group Holding Ltd, China's e-commerce giant, is expected to launch its telecom services in June after gaining one of China’s first mobile virtual network operating licenses at the end of last year.
Yu'E Bao, an investment service offered by Alipay, China's leading online payments provider, and Tianhong Asset Management, had attracted aggregate deposits of about 541.3 billion yuan ($86.99 billion) by the end of March.
Premier Li Keqiang said China has the conditions to keep its economy moving with another round of reform and opening-up.
Weibo Corp, Twitter Inc's counterpart in China, made its debut on the Nasdaq in the United States on Thursday, becoming the first publicly traded Chinese social media company.
Premier Li Keqiang said China has the conditions to keep its economy moving with another round of reform and opening-up, despite concerns that the world's second-largest economy is heading for a deeper slowdown.
China's lottery sales jumped 20.3 percent year on year to 32.87 billion yuan (5.34 billion US dollars) in March, latest government data showed on Thursday.
The city of Wenzhou, a weather vane of China's private economy, is regaining its foothold after being hit hard by a credit crunch, local entrepreneurs and analysts say.
1,923 imported SUVs are on the recall list mainly due to problems with their warning lights, China's quality watchdog announced.
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