UnionPay International, the Chinese card payment system, and the Thai Bankers Association signed an agreement on Tuesday to make UnionPay the standard chip card for local banks across the Thai banking industry.
China's foreign exchange regulator injected more than $90 billion into the country's policy banks during July to strengthen support for both overseas investments and domestic government-led construction projects.
E-commerce giant Alibaba Group Holding Ltd is planning to expand the reach of its financial arm Ant Financial Services Group to provide more value-added personal wealth services, officials said.
Hanergy Thin Film Power Group Ltd, the Hong Kong-listed solar-equipment manufacturer at the center of a regulatory probe, warned it could record a loss for the first six months of the year, after the cancellation of deals worth billions of dollars with its parent company.
Investors from China are increasingly scouting for opportunities in overseas markets due to the wild swings in the domestic capital markets and currency weakness, said an industry report published on Monday.
If a slowing economy and intensifying competition were not putting enough pressure on Chinese travel websites, now the industry faces another potential obstacle to growth: A weaker local currency.
Internet lending transactions surged to a record during the first six months of the year in China, with the bulk of the deals made through mobile devices, according to industry reports.
Last week's depreciation of the yuan stoked fears that European exports to China could be hit. As the euro and the pound strengthened, concerns started to grow that companies selling goods to the second-biggest economy in the world would see their trading margins shrink.
China's decision to press ahead with its nuclear energy program can have a positive effect on the global market.
Major foreign companies need to work harder to hang on to Chinese staff as the business environment becomes more competitive. Retaining talented employees is crucial if an enterprise wants to grow here.
Bulls and bears have dominated market conversations in the past few months, but now is the time to talk about the humble pig. It is squealing loudly for attention.
David Kynaston believes many underestimate just how Hong Kong has transformed itself over the past 35 years.
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