China’s National Association of Financial Market Institutional Investors (NAFMII), PBoC Hangzhou branch, and Zhejiang’s Financial Supervisory Authority have agreed to further support private enterprises in bond financing. Zhejiang will be the first province in China to start adopting such supporting tools in China. In other news, one of Vanke’s subsidiaries has acquired an office building from HNA Group (HNA) in Guangzhou for at least RMB1.45bn, marking Vanke’s third property buyout from the cash-strapped conglomerate since July. Meanwhile, the buyer is also purchasing a hotel square owned by HNA in Guangzhou for approximately RMB1bn. Today, A-share markets showed a mixed performance. SHCOMP slipped 0.22% to 2,635.63, SICOM dropped 0.70% to 7,698.02 and CSI 300 declined 0.28% to 3,212.77. ChiNext Price Index decreased 1.20% to 1,329.59. The Hang Seng Index climbed by 0.31% today to 26,227.72.
During the China International Import Expo, Daimler’s [DAI:GR] China unit unveiled its plan to launch a Benz electric vehicle (EV) model in the country in 2019, called “Mercedes-Benz SUV”. This will be the mainland’s first electric-powered Benz car. Within the technology sector, China’s Ministry of Industry and Information (MIIT) warned a group of internet companies regarding poor data collection practices. In particular, some ride-hailing startups were called out due to insufficient explanations on collecting passengers’ personal data. Furthermore, some e-commerce retailers, including Suning [002024:CH], was criticized for failing to provide detailed guidelines for checking their customers’ personal information.