介绍:
China to bust illicit securities trading
Anchor:
China's securities regulator has said that it will standardize securities accounts after finding some agencies and individuals set up virtual accounts or traded with borrowed accounts.
The regulator also urged local authorities to verify the authenticity of securities accounts and be more strict when supervising them.
The move is believed to target illicit financing.
The securities regulator also urged brokers to standardize external access to information systems.
Meanwhile, the Public Security Ministry is said to have found clues that certain trading firms have allegedly manipulated futures trading in the stock market.
The investigation, which started on last Thursday, is being led by Vice Minister of Public Security Meng Qingfeng.
For more on the recent crackdown on illegal trading, CRI's Shane Bigham earlier spoke with Mike Bastin, director of China Business Center based in London.
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Back Anchor:
That was Mike Bastin, director of China Business Center based in London, speaking with CRI's Shane Bigham.
China's Foreign Trade Continues Drop in H1
Official data shows China's foreign trade posted lackluster performance in the first half of the year.
Total foreign trade dropped 6.9 percent year on year to about 11.5 trillion yuan or nearly 1.9 trillion U.S. dollars in the first six months of this year.
The decline widened from a 6-percent drop registered in the first quarter.
Exports rose slightly by 0.9 percent from a year ago to some 6.5 trillion yuan.
This while imports slumped by 15.5 percent to nearly 5 trillion yuan.
Trade surplus expanded 1.5 times to reach some 1.6 billion yuan in the first half of this year.
Huang Songping, spokesperson of the General Administration of Customs, says that sluggish foreign demand is the major factor affecting trade growth.
"The trade volume has dropped, but the quality and efficiency of foreign trade development have been improved. The overall performance has picked up in stabilization and the development has entered a new normal."
Foreign trade data in June offers some encouraging signs.
Last month, imports fell for the eighth consecutive month, dropping 6.7 percent.
But exports increased 2.1 percent, snapping a run of three monthly declines in a row.
Meanwhile, trade with emerging markets appeared robust while the demand from developed economies shrank.
China's exports to the Southeast Asian countries, India and Africa grew by 9.5 percent, 10.7 percent and 12.9 percent respectively.
China to release guideline on internet finance: PBoC official
China's central bank is set to release a guideline for the country's internet finance sector.
The guideline has already been reviewed and approved by the State Council.
It will encourage innovation in internet finance and lay out measures to ward off potential risks.
It will also ensure fair competition and protect legitimate rights of investors.
Internet finance refers to loans, investments and other financial services provided through online channels rather than through banks and other financial institutions.
Over the past couple of years, the internet has increasingly become a new channel to connect investors with lenders that have been under-served by Chinese banks.
It has also become a popular sales channel for a wide range of wealth management products, from money market funds to borrowing money, to investing in the stock market.
China developing new generation supercomputer
Chinese tech company Dawning Information Industries has started developing a new generation supercomputer.
The dawning 7000 is capable of over one hundred sextillion computing operations per second.
It is designed to better meet market demands for high-speed communication networks, large-scale storage and application software.
But the company has denied previous reports that the new supercomputer has entered the phases of trial production and assembling, and would meet the public in two years.
Dawning is also the developer of Nebulae or Dawning 6000, which ranked the second in the TOP 500 list of the world's most powerful supercomputers in 2010.
Three Sichuan-based Listed Companies to Establish Private Bank with Xiaomi
Sichuan Hebang Corporation has announced plans to establish a private bank with Xiaomi and two other Sichuan-based companies.
The initial registered capital of the private bank is expected to reach 3 billion yuan.
Sichuan Hebang is planning to invest up to 15 million yuan in the new bank for a no more than 5 percent stake.
The company says the move to set up the private bank is still at an early stage.
Major shareholder inject RMB10bln to add share positions in Industrial Bank
China's Industrial Bank's two major shareholders have added their share positions in the bank via secondary market purchases.
Peoples Insurance Company of China added 281 million A-shares, which represent about 1.9 percent of the company's total share capital.
The company now holds about 6.4 percent of Industrial Bank' total share capital.
Meanwhile, PICC Life Insurance Company added 328 million A-shares or about 1.7 percent of the Industrial Bank's total share capital.
The company now holds 6.7 percent of the bank's total share capital.
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