XFA Weekly Review 2016 Issue 28_Xinhua Finance Agency

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Issue		28
2016


	2016/07/03 - 2016/07/09

China's forex reserves rise unexpectedly in June

China's foreign exchange reserves increased 13.43 billion U.S. dollars in June from the previous month to 3.21 trillion U.S. dollars.

China Focus: China revises GDP calculation

China's NBS has adopted a new method of calculating GDP that it says "better reflects the contribution of innovation to economic growth."

	China plans methods for equity crowdfunding, local govt. starts research

	Authorities are accelerating the formulation of systematic regulatory methods on equity crowdfunding.


	Business confidence plunges after Brexit vote

		Confidence among British businesses plunged following the country's historic vote to leave the EU, worsening a bleak economic outlook.

China studying digital currency, application of blockchain to accelerate

China has achieved phased fruits in key technologies and relevant laws on digital currency.

Market size of non-performing assets disposal exceeds trillion yuan

With the adjustment of the economic structure, risks of capital chain of enterprises represented by overcapacity industries continue to expose.

Capitals flow to HK market, H shares of banking sector constantly favored

Capital recently flow to HK market through Shanghai-Hong Kong Stock Connect, favoring the H shares of Banking sectors.

1,149 companies unveil interim results with 66 pct being positive

As of July 7, 1,149 companies listed on the A-share market have forecasted their interim results in 2016.

China Focus: Urban flooding pushes ＂sponge city＂ construction

China wrestles with the dual challenges of water scarcity and urban flooding -- problems that have been magnified by this summer's heavy rainfall.

China Vanke takeover battle highlights market regulation defects

A prolonged tussle over control of Vanke has triggered a plunge in the company's stock price and calls for better market regulation.

EU says Spain, Portugal fail to meet deficit targets

Spain and Portugal would not correct excessive deficit by given deadlines, and are in violation of European Union rules on government overspending.

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