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Hong Kong is poised to be the leading offshore yuan financial center even if yuan currency becomes fully convertible which may threaten the city's financial position. Meanwhile, HK's dim sum bond market infrastructure building is making more progress as mainland credit rating agencies may start yuan bond ratings in city. The Hang Seng Index, starting on Nov 24, 1969, is a capitalization-weighted stock market index in the Hong Kong Stock Exchange, served as the main indicator of the overall market performance in Hong Kong.
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  • (Xinhua)2017-10-01 16:33

    BEIJING - A year has passed since the Chinese currency renminbi, or the yuan joined the IMF Special Drawing Right (SDR) basket. While the impact of the move may appear limited, the currency has taken steady steps on its global march. On Oct 1, 2016, the RMB became the fifth currency in the basket, j...

  • (Xinhua)2017-09-29 17:21

    KUALA LUMPUR - Chinese auto veteran Li Chunrong was announced Friday as the new chief executive officer (CEO) of Proton's manufacturing arm, in a major move by China's Zhejiang Geely to revitalize the Malaysian national carmaker. Malaysian conglomerate DRB-HICOM and Zhejiang Geely announced during a...

  • By Song Jingli(chinadaily.com.cn)2017-09-29 10:32

    Executive Associate Dean of PBC School of Finance, Tsinghua University Liao Li makes a speech on the 2nd China Fintech Conference in Beijing on Sept 17, 2017. [Photo provided to chinadaily.com.cn] Since 2013, which is viewed as the first year of the internet finance era in China, Fintech has greatly...

  • (China Daily)2017-09-29 09:28

    Dalian Wanda Group Co's biggest unit had its credit rating cut to junk by S&P Global Ratings, raising the risk of higher borrowing costs overseas just as the Chinese conglomerate grapples with greater regulatory scrutiny. S&P lowered its score on Dalian Wanda Commercial Properties Co to BB, two step...

  • By Wu Yiyao In Shanghai(China Daily)2017-09-29 09:28

    Mainland's State-owned insurer and financial conglomerate PICC Group's application for a public offering on the A-share market has been approved by the authorities. Any such offering, if successful, would enable the company raise more than 12 billion yuan ($1.8 billion). The Hong Kong-listed compan...

  • By Zhou Mo In Beijing And Evelyn Yu In Hong Kong(China Daily)2017-09-29 09:28

    The mainland's first internet-only insurance firm sees price surge ZhongAn Online Property and Casualty Insurance Co Ltd saw its share price surge 15.6 percent to open at HK$69($8.83) on its first day of trading. The mainland's first internet-only insurer captured the imagination of investors who ha...

  • 2017-09-29 08:12

    Dalian Wanda Group Co's biggest unit had its credit rating cut to junk by S&P Global Ratings, raising the risk of higher borrowing costs overseas just as the Chinese conglomerate grapples with greater regulatory scrutiny.S&P lowered its score on Dalian Wanda Commercial Properties Co to BB, two steps...

  • By Xu Fan(China Daily)2017-09-28 07:23

    Big-budget films gear up for China's lucrative vacation market this fall. Xu Fan reports. With China's National Day holiday week beginning on Oct 1, the battle of potential blockbusters for the lucrative vacation market is about to begin. Latest figures from major online ticket sites, such as Maoyan...

  • (China Daily)2017-09-28 07:14

    Sichuan Courier admits to urinating in soup A food deliveryman in Chengdu was sacked after he drank a customer's soup and replaced it with his urine. A man, surnamed Tan, called police after opening a vacuum-sealed cup of red bean soup his wife sent him while he was working overtime in his office. H...

  • By Bruce Connolly(chinadaily.com.cn)2017-09-28 07:14

    Old port area of Haikou 1993. [Photo by Bruce Connolly/chinadaily.com.cn]Over the upcoming 'Golden Week' Hainan will attract many holidaymakers. Twenty-four years ago, it was a very different island, with tourism in its infancy.Train Z201 departs Beijing daily at 5:54 pm, heading south towards weste...

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