Chairman of China Securities Regulatory Commission (CSRC) was reported to offer his resignation. Xiao Gang handed his resignation last week following a failure in executing circuit breaker system in China stock markets.
Several measures gauging the manufacturing industry activity are showing discouraging results. The latest manufacturing gauging index slipped below 50, which indicates the deceleration in the manufacturing industry, falling to 49.7 in August.
China's stock markets plunged on Thursday, with indexes dropping over 6 percent in record high turnover as investors rushed to sell after more brokers tightened margin trading requirements for clients and the central bank drained money market liquidity.
China's regulators have already given their assent for the creation of an international trading center in the free trade zone in Shanghai, Reuters reported citing the bourse's Chairman Gui Minjie.
China-based rare earth metals producer Inner Mongolia Baotou Steel Rare Earth Group has added nine regional mining firms as part of a government bid to consolidate the industry.
Chinese lender China Everbright Bank Co. raised $3 billion in its Hong Kong listing after exercising an option to sell an additional 762 million shares on top of its IPO base size of 5.08 billion shares.
Carlsberg Group reportedly purchased a 30.3% stake in joint venture partner Chongqing Brewery. The Danish brewer hopes to expand its presence in China's USD76 billion liquor market.
Chinese investment firm Sailing Capital Management has launched a USD821 million (CNY5 billion) cross-border buyout fund through Shanghai Sailing Industrial Capital, a subsidiary of the company.
China's biggest hydroelectric dam contractor Sinohydro Group Ltd. will be investing up to USD39.2 million in an hydroelectric project in Laos. The said company will also be investing USD724 million in a construction project in Shandong province.
Erroneous buy orders from Everbright Securities Co. prompted an early rally on China's bourse according to a securities regulator.
Hong Kong Exchanges Clearing Ltd (0388.HK) (HKEx) is forming a joint venture with mainland Chinese exchanges to develop index-linked and equity derivatives products in a sign of growing cooperation in the region.