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03.06.26 - 10:30
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Jiangsu 11.5b yuan brokerage merger marks new phase of consolidation (SCMP)
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China's second-largest provincial economy is accelerating the integration of its financial sector, with a proposed merger between two state-owned brokerages in Jiangsu highlighting a new phase of regional consolidation.
In a filing on Tuesday, Shanghai-listed Soochow Securities disclosed plans to acquire an 83.68 per cent stake in NEEQ-listed Donghai Securities for 11.52 billion yuan (US$1.7 billion), revealing the valuation and financial ramifications of the deal for the first time since it was......
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21.05.26 - 07:18
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China′s yuan hits 3-year high as global banks issue bullish forecasts (SCMP)
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China's central bank has set the yuan's daily reference rate against the US dollar at its strongest level in more than three years, as global banks turn increasingly bullish on the Chinese currency.
The People's Bank of China set the yuan's midpoint rate, also known as the daily fixing rate, at 6.8349 to the US dollar on Thursday – the strongest showing since February 2023.
The move followed a 0.22 per cent appreciation in the offshore yuan on Wednesday, after bouts of volatility over the past......
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