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1 month ago | 
caixinglobal.com | Wang Juanjuan |Qing Na
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China is likely to restart allowing unprofitable tech companies to list on Shanghai’s STAR Market, sources with knowledge of the matter said, showing intensified financing support for technology innovations.
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2 months ago | 
caixinglobal.com | Wang Juanjuan |Qing Na
Explore the story in 3 minutesBao Fan, a prominent Chinese financier and founder of China Renaissance Holdings Ltd., may face prosecution for alleged bribery following an investigation that has captivated China's venture capital sector. Bao was taken into custody approximately two years ago, with the case now progressing through the judicial system, having been transferred to the procuratorate for review and potential prosecution.
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2 months ago | 
caixinglobal.com | Wang Juanjuan |Qing Na
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Bao Fan, the billionaire founder and ex-chairman of China Renaissance Holdings Ltd., may face prosecution for suspected bribery, the latest development in a mystery that’s gripped the country’s venture capital sector since the veteran financier was taken away by authorities about two years ago, multiple sources with knowledge of the matter told Caixin.
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Jan 13, 2025 | 
caixinglobal.com | Wang Juanjuan |Han Wei
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The chairman of Haitong Securities Co. Ltd. has resigned from his position in the run-up to the company’s mega merger with Guotai Junan Securities Co. Ltd. that could create China’s biggest brokerage.
Shanghai-listed Haitong announced Monday that Zhou Jie, its chairman since 2016, has stepped down from all positions in the company.
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Jan 8, 2025 | 
caixinglobal.com | Wang Juanjuan |Quan Yue |Qing Na
Explore the story in 3 minutesIn the U.S., class-action lawsuits serve as an effective means for investors to recover losses due to corporate malpractices, such as the disclosure of false information. However, in China, such lawsuits were only made possible in 2020 with the implementation of the revised Securities Law, allowing shareholders to collectively sue companies through a representative action mechanism.
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Jan 8, 2025 | 
caixinglobal.com | Quan Yue |Wang Juanjuan |Caixin Weekly
Caixin Weekly | Collective Securities Lawsuits Face Challenges Four Years After Launch: Local Judicial Fairness and Execution Difficulties Persist (AI Translation)财新周刊｜证券集体诉讼启动四年来落地难 地方司法公平性有亏、执行困难重重 Explore the story in 3 minutes[para. 1] The article by Wang Juanjuan and Quan Yue from Caixin Weekly examines the implementation and effectiveness of China's securities class action system over four years.
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Jan 8, 2025 | 
caixinglobal.com | Wang Juanjuan |Quan Yue |Qing Na
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Class-action lawsuits against listed companies are popular in the U.S. as a cost-effective way for investors to recover losses suffered from a drop in the price of their shares after wrongdoing such as false information disclosure is exposed.
Yet in China, this type of civil lawsuit was not allowed until 2020, when the revised Securities Law went into effect.
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Dec 11, 2024 | 
caixinglobal.com | Wang Juanjuan |Qing Na
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As the People’s Bank of China’s (PBOC) relending tool for share repurchases has come into operation, industry insiders have stressed that listed companies canceling the shares they buy back is key to the authorities’ goal of stabilizing the stock market.
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Nov 2, 2024 | 
caixinglobal.com | Caixin Weekly |Wang Juanjuan
“之前像我们这样的民企，一般情况下想去银行贷款做股票回购，是贷不到的；还好幸运地赶上‘9•24新政’的第一波红利，不然也拿不到贷款。”一位来自中部省份上市公司的董秘感到鼓舞，他告诉财新，公司近日谈下了一笔利息不超过2.25%的2亿元专项贷，可替换自有资金用于支付回购股份的交易价款。
"Previously, private enterprises like ours generally couldn't get bank loans for stock buybacks. Fortunately, we caught the first wave of benefits from the ‘September 24 New Policy’; otherwise, we wouldn't have secured the loan," an executive secretary from a listed company in a central province expressed.
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Oct 11, 2024 | 
caixinglobal.com | Yukun Zhang |Ding Feng |Wang Juanjuan |Quan Yue
[para. 1][para. 2] China's central bank, the People’s Bank of China (PBOC), has launched the Securities, Funds and Insurance Companies Swap Facility (SFISF), granting eligible financial institutions access to liquid assets to purchase shares in companies listed on Chinese mainland stock exchanges. This tool is part of a broader package of economic stimulus measures aimed at enhancing the capital markets' stability and health. [para.
