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school because speaking fluent Chinese is necessary for them to work in China or do business with China, Sun said.
The government in Ruili has invested 2.6 million yuan ($388,000) in impro
ving school facilities, including building a new school building, canteen and playground. T
he school has established a special foundation with donations from teachers, parents and officers at the in
spection station to sponsor impoverished Chinese and Burmese students in pursuing their studies, he said.
Ruili, an important land port for southwestern China, is described by a famous C
hinese song, There is a Beautiful Place, which describes its natural beauty and colorful folklore.
At the school, the students also can be heard singing another so
ng, “Two countries, one school, hand in hand, heart to heart, forever love.”
Bank of Beijing Co Ltd said on Friday that it has got the necessary board approvals for the esta
blishment of a joint venture with Netherlands-based ING Bank NV, in which the latter will be the majority partner.
With a total investment of 3 billion yuan ($448 million), the forthcoming joint-venture bank, whic
h is still waiting for regulatory approval, may become China’s first commercial lender in which a for
eign shareholder has a controlling interest. According to the plan, ING Bank will hold a 51 percent stake, and Bank of Beijing 49 percent.
Drawing on the experience of ING Bank in the successful development of direct ba
nking services, the joint venture will build a brand in the area of digital banking with the help of financial tec
hnologies and try to become a benchmark in terms of the implementation of China’s push to further open
up its financial sector to foreign investors, said the mid-tier commercial lender BOB in an announcement.
Different from the traditional counter-based model, the direct banking model uses e-cha
nnels to provide financial products and therefore has no restriction of time, regions or geographic branches.
d to the lowest level in almost a decade.
”The reason for this underperformance relative to the rest of the world is, I believe, the uncertainty surrounding the prospect of Brexit,” Ge
rtjan Vlieghe, a member of the Bank of England’s Monetary Policy Committee, said in a speech last month.
The pain has also been felt by households. The pou
nd plunged 15% against the dollar after the 2016 vote, pushing the price of imported goods hig
her. That spurred inflation and contributed to a decline in the value of people’s paychecks.
Executives have reacted to the uncertainty by attempting to Brexit-proof their businesses.
”It is clear that political inaction has already had economic consequences, with many firm
s hitting the brakes on investment and recruitment decisions as a result of ongoing uncertainty,” said Ad
am Marshall, director General of the British Chambers of Commerce, a business lobby.
NEW YORK – UP Fintech Holding Limited, a leading online brokerage firm focusing on global Chinese investors, rang th
e Nasdaq Stock Market opening bell on Wednesday in celebration of its initial public offering (IPO).
The company, known in Asia as “Tiger Brokers,” trading under the ticker symbol of “TIGR,” announced its IPO of 13 mill
ion American depositary shares (ADSs), each representing 15 Class A ordinary shares, at a price to the public of $8 per ADS.
UP Fintech Holding started trading at $8.10 per share on Wednesd
ay, climbing 24.6 percent from its pricing, and was traded at $9.97 apiece around midday.
Citi and Deutsche Bank acted as lead managers on the deal.
Online brokers utilize APPs and websites to provide integrated online securities services, incl
uding customer acquisition, account opening, securities trading and other value-added services.