By Addison Gong
10.00 AM
In this round-up, Beijing plans to beef up capital requirements for domestic systemically important banks, foreign investors reduce their investment in domestic Chinese bonds in March, and JD.com’s technology unit is reportedly planning to set up a financial holding company.
The People’s Bank of China (PBoC) and the China Banking and Insurance Regulatory Commission (CBIRC) published draft regulations at the end of last week, asking domestic systemically important banks (D-Sibs) to comply with additional capital requirements.
The regulators finalised the D-Sibs framework in December 2020. The framework assesses which banks qualify as D-Sibs and assigns them into five buckets, with those in bucket five being the most systemically important.
SPAC Boom Upends Wall Street League Tables, Sparks Best Quarter For Dealmaking Since 1980 zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
Wall Street’s $100 Billion SPAC Boom Upends the League Tables
Bloomberg 4/1/2021 Ben Scent
(Bloomberg) The blank-check listings craze is shifting fortunes on Wall Street, knocking some of the world’s biggest banks off their perches and bringing unexpected bragging rights for others unaccustomed to competing for league table glory.
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Cantor Fitzgerald LP, long one of the top SPAC underwriters, has been the biggest beneficiary of the boom and ended the first quarter as the No. 10 adviser on initial public offerings globally. The boutique, which hasn’t ranked that high for any full year in the past decade, got 99% of this year’s deal credit from blank-check work, data compiled by Bloomberg show. Without those deals, it would be 155 places lower.
By Addison Gong
11 Jan 2021
In this round-up, consumer inflation in China turns positive in December, Beijing announces rules to protect Chinese companies from sanctions of foreign governments, and the banking and insurance regulator hands a Rmb200m ($30.1m) fine to financial institutions including China Development Bank and Industrial and Commercial Bank of China.
China’s December Consumer Price Index (CPI) rose 0.2% year-on-year, taking the 2020 full year CPI growth to 2.5%, data released by the National Bureau of Statistics on Monday morning showed. The Producer Price Index (PPI) slid 0.4% last month.
The recovery in inflation last month was largely thanks to a rebound in food prices 8.5% month-on-month for fresh vegetables and 6.5% for pork and a monthly rise of 5.1% in fuel prices, noted Commonwealth Bank of Australia’s China economist, Kevin Xie, in a Monday note. Xie expects the annual CPI growth to fall to 1% in 2021 from 2.5% in 2020.