CSRC chief reminds exchanges of their duties as frontline enforcers
Exchanges are the first line of defense in overseeing and enforcing securities legislation, CSRC head Liu Shiyu told a meeting to mark the 20th anniversary of the Shenzhen Stock Exchange. It is their legal duty to crack down on any actions that disrupt market order, using the full range of their powers, Shanghai Securities Journal cited him saying.
EIB to help bridge green lending gap
The European Investment Bank will help China bring the environmental provisions of its lending standards in line with global norms to open up more of the nation’s bond market to foreign investors, People’s Bank of China chief economist Ma Jun said, according to Caixin.
New batch of SOEs lined up for private sector dalliance
A third batch of 10 companies will soon be chosen by the National Development and Reform Commission in the push to introduce private ownership and/or capital into state-owned enterprises, the People’s Daily overseas edition said on Saturday.
Suitors for China Sports Industry Group spurned
China Sports Industry Group, a listed entity owned by the nation’s top sport governing body, said a five-month search had failed to find a suitable candidate to buy a controlling interest in the company, the Paper reported on Sunday evening. LeTV, Kaisa Group, billionaire Liu Yiqian and Bund Holding Group were competing for the stake.
Party strengthens role at major SOEs
Eighty-five major SOEs have been assigned a deputy party boss as part of Xi Jinping’s push to improve the CPC’s leadership of state firms, the Paper reported on Sunday, citing a source closed to the State Council.
March jolt for green cars as sales soar 67%
Government subsidy cuts failed to dent sales of alternative-energy vehicles, which jumped to 27,500 units in March, up 67% from February and 76% on a year earlier, Securities Daily reported. Beiqi, BYD and Geely Automobile were the top sellers, according to new data from China Automotive Industry Association.
State Council plays tough cop on food safety
The State Council vowed the strictest of oversights on food from “farm gate to dinner plate” and that violations of safety standards will be punished with the full severity of the law, Economic Information Daily reported on Saturday. In a circular published on Friday, it also promised to tackle pollution and other environmental problems arising from agriculture.
Banks pledge support for Xiongan New Area
Major financial institutions including China Development Bank, CCB and ABC pledged to support the central government’s plans to build a world-class city in Xiongan New Area, including providing loans for the project, Hebei Daily reported on Sunday.
Shadow banking risks demand stronger rules: Shanghai economist
The huge risk posed by shadow banking to the financial system demands stronger regulatory oversight, including more detailed disclosure requirements for new financial products, said Cao Xiao, an academic at the Shanghai University of Finance and Economics, according to a report by Securities Daily on Monday.
New property curbs in Hebei
Qinhuangdao and Tangshan, cities in northeastern Hebei province, will bar non-residents from buying more than one apartment under new steps to cool property prices announced on Friday, Economic Information Daily said.
Nanjing property prices tumble, but land sales still red hot
Average sales prices in prime Nanjing districts slumped 32% in the first three months of the year compared with the previous quarter, to 20,611 yuan per square meter (1,915 yuan per square foot), Economic Information Daily said. Land sales in the city remained red hot, however, with more than half of the 22 plots going at the last round of bidding or reaching the upper limit of the selling price.
Hainan digs deep with US$14.5b transport expansion
Hainan will invest more than 100 billion yuan (US$14.5 billion) in transport infrastructure during the 13th Five-Year Plan (2016-2020), Xinhua news agency said, with 16.5 billion yuan plowed into highways and marine facilities this year.