Cheng Leng
Stories by Cheng Leng
China’s Harbin Bank shares rise after state takes control in deal worth $2b
The bank will now be 48%-controlled by two state-controlled entities.
Regulatory shortcomings threaten survival of P2P industry in China, say insiders
In 2016, P2P platforms in China loaned $61.5 billion, versus a total 12.65 trillion yuan ($1.78 trillion) in loans made by commercial banks, according
JPMorgan confirms winning bid to take majority stake in China fund JV
It has become the first foreign firm to move closer to taking control of an onshore funds business under new rules.
Morgan Stanley inches closer to gaining controlling stake in Chinese securities JV
Morgan Stanley, which currently owns 49% of the JV, picks up 2% additional stake.
China’s ICBC, Cinda Asset to take 17.3% stake in Bank of Jinzhou
This comes as regulators seek to support indebted smaller banks and contain financial risks.
Ping An-backed Lufax to exit P2P lending amid regulatory crackdown
Lufax has already started the process of applying for a licence in consumer finance, a business which it intends to focus on.
China’s Anbang to sell Hexie Health Insurance stake as government speeds up asset sales
Fujia Group will take a 51% controlling stake after the deal.
China forms new insurance group to take over Anbang’s assets
Anbang controlling shareholder owns 98.2% in Dajia Insurance Group, the new company.
Chinese regulators to restructure Baoshang Bank as soon as possible
Since the takeover of Baoshang Bank, regulators have taken a series of measures to ease liquidity stress, and repeatedly said risks at small financial
China’s Baoshang takeover seen as precursor to small bank consolidation
Mergers of weaker small banks with stronger peers is seen by analysts as the best option for a sector reeling from rising bad loans and funding costs.
