介绍:
Sina Posts Higher Revenue in Q3
Chinese Internet firm Sina is reporting higher-than-expected quarterly revenues through the 3rd quarter of this year, mostly because of Weibo.
The company's net revenues have increased 14 percent year on year to around 226-million U.S. dollars.
Sina's online advertising revenues for the period have come in at around 193 million U.S. dollars.
This is up from the nearly 167 million U.S. dollars Sina made during the same period last year.
The growth in online advertising revenues has been supported by an increase of some 40.5 million U.S. dollars worth of Weibo advertising and marketing revenues.
Meanwhile, Sina Weibo Corporation's net revenues are up 48 percent year-on-year to around 124 million U.S. dollars.
China's central bank cuts SLF interest rates for local branches
China's central bank says it will cut the interest rates of the Standing Lending Facility for its local branches.
Starting from this Friday, the interest rates of overnight and seven-day SLFs for local financial institutions will be reduced to 2.75 percent and 3.25 percent respectively.
SLF is one of the monetary policy instruments which the PBoC uses to inject cash into the market and to ease liquidity.
Asia Pacific Stock Exchange changes name to Sydney Stock Exchange
The Asia Pacific Stock Exchange has changed its name to Sydney Stock Exchange Limited.
The Australian bourse says the new name reflects both the role of Sydney as a major financial center in Australia and the Asia Pacific region and the geographic home of the exchange.
Sydney Stock Exchange will be a member of the Asia Pacific Exchange Group - APX, as well as the Asia Pacific Finance Institute of Australia, and the Asia Pacific Equity Exchange.
The APX Group is a fully owned subsidiary of AIMS Financial Group.
The Asia Pacific Exchange, previously known as the Australian Pacific Exchange, was acquired by Chinese Australian George Wang's AIMS Financial Group after the collapse of the Austock Group in 2008.
It was relaunched last year.
China Europe International Exchange launched in Frankfurt
A Sino-German joint venture named China Europe International Exchange has been launched in the German city of Frankfurt.
The venture kicks off the trading of Renminbi-denominated exchange traded funds.
The exchange offers ETFs based on Chinese mainland's underlying assets and a broad range of RMB-denominated bonds.
Two new RMB-denominated ETFs became available, namely the SSE 50 ETF and the Money Market ETF, issued by Commerzbank in partnership with Bank of China International and China Construction Bank International.
The SSE 50 ETF is the first in Europe tracking the SSE50 A-Share-Index, while the Money Market ETF is the only RMB money market ETF available in Europe.
Another new corporate RMB bond, issued by Bank of China Abu Dhabi is also being offered.
Chinese Tech Firms Race into Online Banking Business
Anchor:
Chinese tech company Tencent's online finance arm WeBank is reportedly seeking to raise some one billion U.S. dollars to expand its financial services.
The Wall Street Journal reports that WeBank is in discussions with outside investors for funding that could value it around 5 billion U.S. dollars.
This, after Internet search provider Baidu announced a partnership with CITIC this week to set up an online bank.
The new bank, named Baixin Bank, is a direct sales bank providing online financial services.
It will be China's first venture between an Internet company and a traditional bank.
China's other two Internet giants Alibaba and Tencent have already started to explore the banking sector.
Tencent launched WeBank in January, and holds a 30 percent stake.
Alibaba owns 30 percent of MYbank, which opened in June, through Ant Financial.
For more on Chinese tech firms venturing into the online banking sector,CRI's Spencer Musick earlier spoke with Cao Can, CRI's financial commentator.
Back Anchor:
Cao Can, CRI's financial commentator, speaking with CRI's Spencer Musick.
