During the Europe-Asia Forum held in Brussels, PRC State Council Premier Li Keqiang and British Prime Minister Theresa May discussed bilateral relations and reached a consensus on accelerating the creation of a cross-bidding mechanism between the London and Shanghai stock exchanges. Thanks to this mechanism, investors will be able to acquire foreign shares in the form of depositary receipts, reflecting their rights to shares issued in another country. Chinese and British investors will have access to the stock exchanges in both London and Shanghai due to the fact that banks in these countries will be able to issue depositary receipts for securities traded on these exchanges. According to a statement made by the chairman of the People’s Bank of China and Gan, the mechanism is scheduled to be launched within a year.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Apple, Google, Amazon, and Facebook’s chief executive officers faced Republican and Democratic U.S. lawmakers on Wednesday for the much-anticipated congressional hearing. The CEOs were questioned for alleged abuse of their market power ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...