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Anne Marie Roantree China Economy HSBC Top News 

China, Hong Kong launch long-awaited bond connect scheme

July 3, 2017 HONG KONG/SHANGHAI (Reuters) – China and Hong Kong launched a long-awaited “Bond Connect” programme on Monday that links China’s $9 trillion bond market with overseas investors, the latest step in Beijing’s efforts to liberalise and strengthen the country’s capital markets. HSBC Holdings and an asset management unit of Bank of China said they have completed their first trades using the scheme. The launch of the connection was timed to coincide with the 20th anniversary of Hong Kong’s handover to Chinese rule and trading will initially commence “Northbound”,…

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China’s Huawei reports flat profit for 2016, revenues slow

March 31, 2017 By Sijia Jiang HONG KONG (Reuters) – Chinese telecom equipment and smartphone maker Huawei Technologies Co Ltd [HWT.UL] said on Friday that net profit edged up just 0.4 percent last year, its slowest annual growth since 2011. Huawei, the world’s No. 3 smartphone maker behind Apple Inc and Samsung Electronics Co Ltd , said net profit rose to 37.1 billion yuan ($5.3 billion). Strong competition in China’s smartphone market from previously little-known domestic rivals OPPO and Vivo cost Huawei its top spot as the biggest vendor in…

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Shares of Chinese selfie app maker Meitu plunge as much as 15 percent

March 27, 2017 HONG KONG (Reuters) – Shares of Chinese selfie app maker Meitu Inc plunged as much as 15 percent on Monday after it posted a loss in 2016, in its first earnings report since it listed. The stock fell to as low as HK$13.20, lagging a 0.2 percent fall for the benchmark Hang Seng Index. (Reporting By Sijia Jiang; Editing by Anne Marie Roantree and Stephen Coates) The post Shares of Chinese selfie app maker Meitu plunge as much as 15 percent appeared first on One America News…

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