Zhang Dingmin

Oct 30, 2024 | news.bloombergtax.com | John Liu |Zhang Dingmin

China Life Insurance Co. said profit surged 174% in the first nine months of the year as a rally in the nation’s stock market bolstered investment returns. Net income rose to 104.5 billion yuan ($14.7 billion) this year through Sept. 30, from a revised 38.2 billion yuan a year earlier, the Beijing-based company said in a filing to the Shanghai stock exchange on Wednesday. The increase quickened from an 11% gain in the first half.

Feb 22, 2024 | news.bloomberglaw.com | John Liu |Zhang Dingmin

China’s <-bsp-bb-link state="{"bbHref":"bbg://screens/tni%20china%20qnt%20bn","_id":"0000018d-d198-d64e-af9d-d7de18bf0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">quantitative hedge funds-bsp-bb-link> are admitting to unprecedented failures by their stock-trading models during one of the wildest two-week stretches in the market’s history.

Feb 21, 2024 | news.bloomberglaw.com | Charlie Zhu |Zheng Li |Zhang Dingmin |Amanda Wang |Lulu Yilun Chen

China has banned major institutional investors from reducing equity holdings at the open and close of each trading day, part of the government’s most forceful attempt yet to prop up the nation’s $8.6 trillion stock market. The order from China’s securities watchdog was recently delivered to major asset managers and the proprietary trading desks of brokerages, according to people familiar with the matter, who asked not to be named because they weren’t authorized to speak publicly.

Feb 20, 2024 | news.bloomberglaw.com | John Liu |Zhang Dingmin

China’s two main stock exchanges froze the accounts of a major quantitative hedge fund for three days after the money manager dumped 2.57 billion yuan ($360 million) in shares within a minute Monday. Ningbo Lingjun Investment Management Partnership executed the sell orders through multiple accounts starting from 9:30 a.m. as shares declined, “disrupting normal trading order,” the Shenzhen exchange said in a statement Tuesday.

Jan 22, 2024 | news.bloomberglaw.com | Jackie Cai |Zhang Dingmin

China is expanding its net stock selling ban from major mutual funds to some insurers, another sign that authorities are trying to support the slumping stock market, said people familiar with the matter. Regulators issued the so-called window guidance to at least two state-owned insurance firms on Monday, telling them to refrain from selling more onshore shares than they purchased, according to the people, who asked not to be identified discussing private information.