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Regulation
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  • Truong My Lan, chairwoman of real estate developer Van Thinh Phat Holdings Group, faces accusations of leading a scam of more than US$12 billion
  • She is accused of bribing officials to ignore her activities, including paying an alleged US$5.2 million to a senior central bank inspector, investigators say

After cutting costs by about 20 per cent throughout 2023, Hex Trust sees the cryptocurrency market’s revival ‘directly translating into profitability’ for the company.

Mainland cryptocurrency investors made US$1.15 billion in 2023 to rank fourth behind those in the US, the UK and Vietnam, according to a Chainalysis survey.

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The Securities and Futures Commission has warned investors about trading on Bybit, which is under scrutiny for offering suspicious virtual-asset products in Hong Kong.

China’s minister of science and technology vows that steps will be taken to free young talent from tedious tasks that impede innovation, in line with President Xi Jinping’s fresh push for tech self-sufficiency.

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One of China’s most indebted provinces has brilliant bridges and vast roads, but also one of the nation’s worst per capita income levels, along with debt pressure that could weigh down the region for years.

Ant Group’s Alipay and Tencent’s WeChat Pay are enhancing operations to make it easier for foreign travellers to pay for goods and services on the mainland, the world’s largest cashless society.

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Blockchain is shaking up the financial sector and, given the popularity of bitcoin exchange-traded funds, regulators will need to step up their game when it comes to consumer protection and oversight, says the president and chief executive of fund manager Franklin Templeton.

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Proposals like the one submitted by Zhihu CEO Zhou Yuan signal that policymakers are actively discussing how to boost the platform economy, analysts say.

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The European Union fined the US tech giant for breaking the bloc’s competition laws by unfairly favouring its own music streaming service over rivals.

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National People’s Congress (NPC) spokesman Lou Qinjian says China’s attitude on opening up has never faltered and will not change, ahead of the opening session of the top legislature on Tuesday.

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The SFC saw a jump in last-minute applications, but the number of applicants so far falls far short of the 70 that Singapore saw after a similar regulation.

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Regulators slapped a trading suspension and fines on Shanghai Weiwan Private Fund Management for high-frequency trading in index-futures contracts, signalling that a crackdown on quantitative investments has widened to financial derivatives.

A federal investigation into chip equipment supplier Applied Materials involving China shipments has widened to other US agencies, including the Securities and Exchange Commission.

China grants licences to more than 100 new domestic titles, giving the industry another confidence boost after a video-game-related stock rout in December.

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The Securities and Futures Commission (SFC) said it had started proceedings in the Court of First Instance against Sui and 20 other employees for allegedly manipulating Ding Yi Feng’s shares between March and September of 2018.

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Platforms should send app notifications to remind workers to take a break if they have been working longer than the hours agreed, according to new government guidelines.

The government will submit a bill on licensing rules for stablecoin issuers and OTC trading services to the legislature ‘as soon as practicable’, says the city’s financial affairs chief.

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Michael Yu Minhong saw his wealth slashed when China’s leadership cracked down on private tutoring businesses, and now he’s calling for market economy rules to be respected.

China’s State Council has told local governments the imposition of heavy fines as a means of generating revenue would not be tolerated, putting those offices in a bind as traditional funding sources have dried up.

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