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Swiss bank UBS said on Thursday it has set up an asset management unit in Beijing to tap China's rapidly-growing $650 billion private equity market.
Chinese insurers will need more than 110 billion yuan ($17 billion) of external funding to fuel their rapid development in the next three years, insurance analysts from Standard & Poor's said on Wednesday.
Stocks on the Chinese mainland rose, sending the benchmark to its biggest gain in two weeks, after data showing industrial companies' first-half profits advanced eased concerns that government measures to curb inflation will hurt earnings growth.
China's banking regulator said it will step up monitoring of loans to local government financing platforms and the property market in the second half of the year.
A total of 440 village banks were operating in China by the end of May, with another 96 under construction, the nation's banking regulator said Wednesday.
China's stocks advanced Wednesday with the benchmark Shanghai Composite Index up 0.76 percent to close at 2,723.49.
Hong Kong stocks closed down 30. 39 points, or 0.13 percent, at 22,541.69 on Wednesday.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 23.01 points, or 2.58 percent, to 915.55 on Wednesday.
China's stock index futures closed higher on Wednesday with the contract for August, the most actively traded, up 0.48 percent from the previous day to 2,994.2 points.
Mongolia's state-owned miner Erdenes Tavan Tolgoi (TT) LLC has signed a $250 million deal to sell coal from the east Tsankhi deposit to Aluminium Corp of China Ltd, also known as Chalco, it said in a statement on Wednesday.
China may refrain from raising banks' reserve requirement ratios (RRR) this month and in August as capital inflows lose steam alongside a decline in the amount of maturing bills and repos, the China Securities Journal reported on Wednesday.
China should gradually make real bank deposit rates positive and continue to use open market operations and bank reserve requirements to slow money supply, an academic adviser to the People's Bank of China said in comments published on Wednesday.
