The People's Liberation Army (PLA) of China is conducting military exercises in a region near Taiwan Strait starting today.
Shenzhen Service Bureau for Small and Medium-sized Enterprises (SME) has teamed up with four digital service giants in the country－Ping An Smart City, Alibaba Cloud, Tencent Cloud and Huawei Cloud－to launch an action plan to promote digital upgrades of local SMEs.
Shenzhen sees foreign trade volume up 2% to 1.88 trillion yuan (US$276 billion) during the first eight months this year, with the export volume hitting 1.04 trillion yuan and the import volume reaching 845.69 billion yuan.
With regulators continuing to tighten the supervision on P2P lending, there are only 15 such platforms left in China as of August.
The 22nd China International Industry Fair (CIIF) opened on this week in Shanghai, with over 2,000 enterprises participating in the five-day event.
The assets under custody of China's banking sector hit 153.26 trillion yuan (US$22.41 trillion) as of end 2019, up 5.15% y-o-y, according to the China Banking Association.
New rules to tighten the supervision on market access of financial holding companies were issued yesterday, requiring non-financial companies or other eligible entities that control at least two financial institutions to get approval from the People's Bank of China before establishing financial holding companies.
The total revenue of the top 500 private enterprises reached 30.17 trillion yuan (US$4.41 trillion) in 2019, recording a year on year growth of 5.85%, according to the All-China Federation of Industry and Commerce at the China Top 500 Private Enterprises Summit 2020.
The newly issued yuan-denominated loans in China hit 1.28 trillion yuan (US$187.13 billion) in August, up 37% and recording an increase of 69.4 billion yuan compared to the same period of last year.
The 2020 China International Fair for Investment & Trade (CIFIT) and the Belt and Road Investment Congress has launched in Xiamen this week, and during part of this event, the 2020 China Financial Technology Forum, officials and experts revealed the country's plan of setting up fintech hubs nationwide.
Yum China, the parent company of KFC in China, is going to relist in Hong Kong, with an estimated valuation of HK$196 billion (US$25.29 billion).
Hong Kong is considering launching a travel bubble and has been discussing with 11 countries and territories, with at least five of them expressing the interest in further discussion.