State Development Investment Corporation (SDIC) announced on December 21 that its subsidiary, SDIC Power Holdings [600886:CH], completed its stock acquisition of a Swedish onshore wind energy project, Överturingen, according to Bjx.com.cn on December 23. SDIC Power holds a 50% stake and will manage the project...
JD Finance released an apology to the public for a series of controversial advertisements that the lender had released online, as reported by the Beijing News on December 17, 2020. The ad was selling online loan products targeted towards a lower income demographic and insinuated...
China’s National People’s Congress (NPC) Standing Committee has started reviewing the first draft of the new anti-food-waste law in China, as reported by Xinhua on December 22. The draft law contains 32 articles, clarifying the definition of food waste, the responsibility of the relevant government...
Chinese coffee chain company Luckin Coffee has reached a settlement with the US Securities and Exchange Commission (SEC) over its financial fraud case and the company will pay a USD180m fine, as reported by Caixin on December 17. The US SEC filed a suit against...
The Green and Sustainable Finance Cross-Agency Steering Group, jointly founded by Hong Kong Securities and Futures Commission (SFC) and Hong Kong Monetary Authority (HKMA), released its green and sustainable finance strategy on December 17, according to HKMA’s website on the same day. The Steering Group...
China is entering into a peak period of home appliance disposal Although the COVID-19 outbreak heavily impacted the Chinese home appliance sector, the industry saw a gradual recovery in March. According to People.cn, the Chinese home appliance market recorded retail sales of RMB248.6bn in 2Q20, up...
The Investment Association of China (IAC), the Yangtze River Delta (YRD) Financial Industrial Park, and Zhong Lun Law Firm, jointly announced a proposal for green finance in the YRD to support China’s carbon neutrality target, as reported by Shanghai Securities News on December 17. The...
Online healthcare companies utilize the internet to offer various medical services, including diagnosis and treatment, telemedicine, health e-commerce, medical insurance, information sharing, etc. The rapidly expanded industry has offered solutions to address China’s medical supply and sourcing dilemma and contribute to reducing the spread of...
Antitrust regulator, the State Administration for Market Regulations (SAMR), fined Alibaba [BABA:US] Investments, Shenzhen Hive Box Technology, and China Literature [0772:HK], a subsidiary under Tencent [0700:HK], half a million RMB for not gaining certain acquisition or buyout approvals, thus violating anti-monopoly laws, according to Sina...
Yi Gang, the governor of China’s PBoC, stated at the Singapore FinTech Festival that the country is considering introducing mandatory requirements for state-backed financial institutions to disclose green finance-related information, as reported by South China Morning Post on December 9. As Yi Gang stated, the...
MOFCOM announced that it will formulate measures to stop food waste, as reported by the Paper on December 10, 2020. In a statement, MOFCOM encouraged the catering industry to focus on providing higher quality food options as opposed to large portions. In addition, for epidemic...
China began carbon emission permit trading pilots in 2011, gathering experience for its future national carbon market Early before the official construction of a national carbon market, China began exploring carbon emission permit trading in seven pilot provinces and cities in late 2011, including Beijing, Tianjin,...
Since major changes in 1978, when China began opening up its markets to the rest of the world, around 750m Chinese people were able to shift above the absolute poverty line, contributing to over 70% of global poverty reduction. To be lifted out of poverty...
China’s online healthcare industry has maintained rapid growth in recent years. According to consulting firm Frost & Sullivan, China’s online medical service market was worth RMB11bn in 2016, and is expected to reach RMB33bn in 2020 and RMB200bn in 2026. Data company 36Kr’s research division...
China began investing in green finance in 2016, when PBoC and other six departments released guidance for building out a green finance system. In the meantime, China listed standardization of the financial industry as a crucial target of its 13th Five-Year Plan from 2016 to...
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