Prevention of risks to underpin regulations

The People's Bank of China, the central bank, will focus on steps to forestall and defuse risks as part of its ongoing efforts to forge a healthy payment services market in the country amid rising concerns over potential oligopoly and data security.

Stock declines cloud MSCI debut

The much-touted inclusion of China's A shares on the MSCI Emerging Markets Index started on a dismal note on Friday, with more than 200 of the newly included companies witnessing price declines on their trading debut.

Life insurance drags on premium income

Chinese insurance companies saw their premium income drop in the first four months of 2018 year-on-year, dragged down by the decline of the life insurance business due to stricter regulations, official data showed on Friday.

Steps discussed to cut borrowing costs for small companies

The nation's top economic regulator has held a closed-door meeting with major banks to finalize a draft guideline aiming to lower small companies' borrowing costs, according to people familiar with the matter.

Social commerce app Red raises $300 million

Chinese social commerce app Xiaohongshu, or "Little Red Book", said on Friday it had secured $300 million from a cohort of investors led by Alibaba Group Holding Ltd, as word-of-mouth and cross-border shopping continue to influence China's retail landscape.

IN BRIEF (Page 6)

Banks change tack to cut losses

Bank of Communications Co Ltd became the nation's first large State-owned commercial bank to establish a wholly owned asset management subsidiary to strengthen risk control and improve its asset management capability.

Policies to boost free trade port zone

The aircraft and heavy industry leasing sector in Dongjiang Free Trade Port Zone in Tianjin is expected to see total assets top 1 trillion yuan ($156 billion) in 2019, the zone's administrator said.

Bund area aims to regain past glory

Shanghai's century-old landmark, the Bund, is facing competition from a cluster of skyscrapers across the city's Huangpu River known as the Lujiazui Finance Zone.

US insists on playing its zero-sum game in Asia

By renaming the US Pacific Command the US Indo-Pacific Command, Washington is sending an unmistakable message that it wants to use its Indian Ocean allies and partners to contain China.

Sign that entrepreneurs' rights are better protected

China's top court has overturned the guilty verdict handed down to the founder and former chairman of Wumei Holdings Group almost 10 years ago.

Urgent task to make China a power in science, technology and innovation

PRESIDENT XI JINPING has said China must have strong scientific and technological strength and innovation capabilities to realize its dream of rejuvenation. People's Daily commented on Thursday: