Okay-To The Moon - Tiger Brokers Online Investing Community

2
Comment
Favorite

Darren3821
2021-07-23

Okay

China's central bank requires non-bank payment firms to report overseas IPOs

BEIJING (Reuters) -China’s central bank on Friday said that non-bank payment firms must report plans

China's central bank requires non-bank payment firms to report overseas IPOs

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

Top
Latest

No comments yet

Most Discussed

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"magic":2,"id":175592519,"tweetId":"175592519","gmtCreate":1627039989331,"gmtModify":1703483002283,"author":{"id":3577098066578249,"idStr":"3577098066578249","authorId":3577098066578249,"authorIdStr":"3577098066578249","name":"Darren3821","avatar":"https://static.tigerbbs.com/30b0256a214323be617e1da29cdab6de","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":0,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>Okay</p></body></html>","htmlText":"<html><head></head><body><p>Okay</p></body></html>","text":"Okay","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/175592519","repostId":2153845983,"repostType":4,"repost":{"id":"2153845983","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1627037100,"share":"https://www.laohu8.com/m/news/2153845983?lang=&edition=full","pubTime":"2021-07-23 18:45","market":"hk","language":"en","title":"China's central bank requires non-bank payment firms to report overseas IPOs","url":"https://stock-news.laohu8.com/highlight/detail?id=2153845983","media":"Reuters","summary":"BEIJING (Reuters) -China’s central bank on Friday said that non-bank payment firms must report plans","content":"<p>BEIJING (Reuters) -China’s central bank on Friday said that non-bank payment firms must report plans for overseas initial public offerings and other major events, the latest move in a widespread regulatory squeeze on the country’s tech firms.</p>\n<p>The shifting regulations first scuttled a $37 billion listing planned by Alibaba fintech affiliate Ant Group late last year and extended to ride-hailing giant Didi Global earlier this month, just days after its New York Stock Exchange debut.</p>\n<p>Non-bank payment firms should report both domestic and overseas listing plans, the People’s Bank of China (PBOC) said in a statement.</p>\n<p>The requirement applies to payment firms with a variable interest entity (VIE) structure, which has been widely adopted by internet companies and allows them to bypass the lengthy domestic listing process and raise funds overseas.</p>\n<p>Payment firms should also explain the “detailed arrangement” of their VIE structures if seeking an overseas listing, it said.</p>\n<p>In addition, they should report data breaches which involve more than 500 clients or 5,000 sets of clients’ data, or investments of more than 5% of its total net assets.</p>\n<p>China’s cabinet said on July 6 that it would strengthen supervision of all Chinese firms listed offshore, broadening a clamp-down on its large “platform economy”.</p>\n<p>Following suit, China’s cyberspace regulator said later the same week that any company with data for more than 1 million users must undergo a security review before listing its shares overseas.</p>\n<p>China’s online payments ecosystem is dominated by Ant’s Alipay and Tencent Holdings’ WeChat Pay.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China's central bank requires non-bank payment firms to report overseas IPOs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina's central bank requires non-bank payment firms to report overseas IPOs\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-23 18:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>BEIJING (Reuters) -China’s central bank on Friday said that non-bank payment firms must report plans for overseas initial public offerings and other major events, the latest move in a widespread regulatory squeeze on the country’s tech firms.</p>\n<p>The shifting regulations first scuttled a $37 billion listing planned by Alibaba fintech affiliate Ant Group late last year and extended to ride-hailing giant Didi Global earlier this month, just days after its New York Stock Exchange debut.</p>\n<p>Non-bank payment firms should report both domestic and overseas listing plans, the People’s Bank of China (PBOC) said in a statement.</p>\n<p>The requirement applies to payment firms with a variable interest entity (VIE) structure, which has been widely adopted by internet companies and allows them to bypass the lengthy domestic listing process and raise funds overseas.</p>\n<p>Payment firms should also explain the “detailed arrangement” of their VIE structures if seeking an overseas listing, it said.</p>\n<p>In addition, they should report data breaches which involve more than 500 clients or 5,000 sets of clients’ data, or investments of more than 5% of its total net assets.</p>\n<p>China’s cabinet said on July 6 that it would strengthen supervision of all Chinese firms listed offshore, broadening a clamp-down on its large “platform economy”.</p>\n<p>Following suit, China’s cyberspace regulator said later the same week that any company with data for more than 1 million users must undergo a security review before listing its shares overseas.</p>\n<p>China’s online payments ecosystem is dominated by Ant’s Alipay and Tencent Holdings’ WeChat Pay.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00700":"腾讯控股","09618":"京东集团-SW","06688":"蚂蚁集团","BABA":"阿里巴巴"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2153845983","content_text":"BEIJING (Reuters) -China’s central bank on Friday said that non-bank payment firms must report plans for overseas initial public offerings and other major events, the latest move in a widespread regulatory squeeze on the country’s tech firms.\nThe shifting regulations first scuttled a $37 billion listing planned by Alibaba fintech affiliate Ant Group late last year and extended to ride-hailing giant Didi Global earlier this month, just days after its New York Stock Exchange debut.\nNon-bank payment firms should report both domestic and overseas listing plans, the People’s Bank of China (PBOC) said in a statement.\nThe requirement applies to payment firms with a variable interest entity (VIE) structure, which has been widely adopted by internet companies and allows them to bypass the lengthy domestic listing process and raise funds overseas.\nPayment firms should also explain the “detailed arrangement” of their VIE structures if seeking an overseas listing, it said.\nIn addition, they should report data breaches which involve more than 500 clients or 5,000 sets of clients’ data, or investments of more than 5% of its total net assets.\nChina’s cabinet said on July 6 that it would strengthen supervision of all Chinese firms listed offshore, broadening a clamp-down on its large “platform economy”.\nFollowing suit, China’s cyberspace regulator said later the same week that any company with data for more than 1 million users must undergo a security review before listing its shares overseas.\nChina’s online payments ecosystem is dominated by Ant’s Alipay and Tencent Holdings’ WeChat Pay.","news_type":1},"isVote":1,"tweetType":1,"viewCount":122,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}