Business
China Tightens Rules for Conglomerates’ Financial Businesses – Bloomberg
China is tightening rules and imposing capital demands on sprawling empires such as Ant Group and China Evergrande Group in its latest attempt to curb risks in the nation’s $49 trillion financial industry.
China is tightening rules and imposing capital demands on sprawling empires such as
Ant Group and
China Evergrande Group in its latest attempt to curb risks in the nation’s $49 trillion financial industry.
The new regulations will require licenses for non-financial companies that do business across at least two financial sectors, and which are designated as “financial holding companies,” the State Council said Sunday on its website.
The rules will take effect Nov. 1 and apply to companies …
-
Noosa News21 hours agoElectrify your vehicle, home or business at Noosa’s EV & Electrify Everything Expo
-
General17 hours agoCanberra man accused of flashing and assaulting 12-year-old girl released on bail
-
Noosa News19 hours agoDrought pushes farmers’ mental health to the brink across southern Australia
-
Business19 hours agoHow Australia’s most valuable company is using AI to compete