Steve Garton' s stories
China’s central bank has taken a big step towards uniting the country’s multiple bond markets with a revision to clearing procedures. The People’s Bank of China said all commercial paper issued from September 1 would be settled through Shanghai Clearing House, moving the settlement from Chinabond.
While international banks seek to scale back staff numbers elsewhere in the world, many are busy adding to their resources in India, with Barclays Capital and Credit Suisse becoming the latest firms to boost headcount in the country.
The Shenzhen Stock Exchange has unveiled a revised framework for the de-listing of companies on its ChiNext board, in a move designed to boost confidence in the high-growth bourse. The new rules, revealed on July 31, aim to spruce up the image of the ChiNext – often referred to as China’s Nasdaq – through a clearing-out of illiquid stocks and companies that are not meeting basic regulations.