Last Week in Brief: China's Top Financial News for the Week Ending June 16
Yicai Global|Xinhua
/SOURCE : yicai
Last Week in Brief: China's Top Financial News for the Week Ending June 16

 (Yicai Global) June 16 -- Below is a roundup of Yicai Global's top Chinese financial, business and markets news from last week. 

 June 10 -- China's central government issued a notice on June 10 urging local governments and financial institutions to use special bonds and other lawful market-oriented financing means. 

 June 10 -- China's imports and exports fell 1.6 percent to USD1.79 trillion over the first five months, data the country's General Administration of Customs issued on June 10 show. Exports rose 0.4 percent to USD958.34 billion, while imports slid 3.7 percent to USD827.87 billion. The trade surplus grew 38.3 percent to USD130.47 billion. 

 June 12 -- China's consumer price index rose by an annualized 2.7 percent last month to a 15-month high, while the producer price index climbed 0.6 percent from a year earlier, statistics the National Bureau of Statistics released on June 12 indicate. 

June 12 -- All preparatory work to launch the Shanghai-London Stock Connect finished up on June 12, and Huatai Securities was approved to introduce global depositary receipts in the UK.

June 13 -- Finance's ability to serve the real economy has been improving, China Banking and Insurance Regulatory Commission chairman Guo Shuqing noted at the Lujiazui Forum on June 13, adding China's big five state-owned banks lent 23.7 percent more in inclusive financial loans to small and micro firms as of the end of May than from the end of last year, with the average interest rate falling 0.65 percentage points from all last year to 4.79 percent.

June 13 -- The long-term positive momentum for China's economy will not change and external pressure will benefit development, Liu He, a member of the Political Bureau of CPC Central Committee and vice premier of the country's cabinet the State Council, said at the opening ceremony of the 11th Lujiazui Forum.

June 13 -- China's central bank vigorously supports Shanghai in accelerating the construction of an international financial center, Yi Gang, governor of the People's Bank of China, said at the Lujiazui Forum on June 13.

June 13 -- The trading mechanism of the Shanghai Stock Exchange's STAR Market, formerly known as the Science and Technology Innovation Board, plans to allow the bourse to temporarily suspend the trading of a listed company if its shares hit a set price limit over its first five trading sessions to prevent drastic fluctuations in stock prices, Yi Huiman, chairman of China Securities Regulatory Commission, said at the Lujiazui Forum on June 13. It will also impose order limits in the initial period of competitive bidding, he added.

June 14 -- The Shanghai Composite Index rose 1.92 percent, or 54.17 points from June 10 to 16 to close at 2,881.97 points. The Shenzhen Component Index ended at 8,810.13 points, jumping 2.62 percent, or 225.19 points. The Nasdaq-style ChiNext Board wound up at 1,453.96 points, climbing 2.68 percent, or 37.9 points.

Editor: Zhang Yushuo, Ben Armour

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Keywords: SSE STAR BOARD , Finance , Investment , Stock Market