“Alibaba may gradually become more attractive to some long-only funds because it is, after all, the largest e-commerce stock in China,” said Shawn Yang, senior analyst at Arete Research. “The expectations of macro improvement may be passed on to these consumer stocks. Alibaba is the largest among them, and its situation is improving.” Alibaba, owner … Read more
Ant Group, the fintech affiliate of Alibaba Group Holding, will kick off a new round of dividend payments to all eligible shareholders and employees who hold equity incentives, according to reports this week by several state-owned Chinese media. The company’s new dividend distribution plan, which was approved during a recently convened shareholders meeting, was “formulated … Read more
China needs to provide “clear direction and an anchor” during the upcoming third plenum to revive market confidence, while a market mechanism and structural reforms are also required, a senior China economist said ahead of this month’s key conclave. “We’re hopeful that the [upcoming third plenum] document will speak to some of the issues … … Read more
Hotels in China have been told not to turn away foreign guests by using a lack of government-issued credentials as an excuse, according to a newly issued joint department notice. The notice, jointly issued by the Ministry of Public Security, Ministry of Commerce and the National Immigration Administration on Friday, said a lack of “foreign-related … Read more
The traditional field trips came in the lead-up to the party’s third plenary session in July, where its top policymaking body – the Central Committee – will set out the country’s general economic strategy for the next five to 10 years. “The new measures certainly show that the authorities want to put a floor under … Read more
Alipay’s annual cumulative transaction limit for foreign visitors has also been increased to US$50,000, up from the previous US$10,000 limit, in line with a new People’s Bank of China policy, the group said. 02:40 How mobile payments impact people’s lives in China How mobile payments impact people’s lives in China Tencent on Thursday said foreign … Read more
Chinese vice-premier He Lifeng has called for improvements in the performance and profitability of listed firms, a signal that Beijing wants to see more support for China’s ailing stock market and a boost in confidence along with it. He made the remarks during a nationwide teleconference attended by cadres from all regions on Monday, during … Read more
China’s central bank has agreed that Ant Group’s mobile payment app Alipay has no controller, a crucial step in the fintech giant’s overhaul deemed necessary to put its much-anticipated initial public offering back on track. The billionaire’s share of the voting rights are now divided among Hangzhou Junhan Equity Investment – owned by Ma and … Read more
