China

India has banned 59 of China’s biggest mobile phone apps including TikTok and WeChat, saying they breach data privacy requirements and threaten the country’s security.

A legislative notice has been posted in the Hong Kong gazette, saying the national law applies in the city as part of the Basic Law from 11pm on 30 June 2020.

At least two major banks are expected to be allowed to conduct investment banking business intially, rather than the full range of securities services.

Under a pilot scheme, Greater Bay Area residents will be able to invest in wealth management products distributed by GBA banks across boundaries.

A hearing with Nasdaq Hearings Panel was scheduled for Thursday but Luckin withdrew its request a day before.

In its latest audit report, China's National Audit Office found bad loan ratios to be nearly twice what some regional banks reported, among other violations.

A feasibility study on commodity futures trading is being conducted by the securities regulator and Chinese conglomerate Ruifeng Tianfu Investment.

A Shanghai entrepreneur and his daughter were penalised a total 3.6bn yuan, representing a record fine and confiscation of illegal gains.

Once signed into law, the Act will authorise the use of sanctions against individuals, entities and financial institutions in response to China's new national security law for Hong Kong.

Local authorities in Hebei and Shanxi reportedly had to intervene last week to halt cash withdrawals at two small lenders amid rumours of mounting bad loans.