China Shifts Course on Financial Markets
FinancialBuzz.com News Commentary
21 Aug, 2017, 09:00 ET
NEW YORK, August 21, 2017 /PRNewswire/ --
According to a study by Citigroup Inc., China is shifting its approach to financial markets, which is projected to result in faster economic growth. China's efforts to internationalize its currency faced major obstacles back in 2015. Currently, policy makers are changing course, focusing on development of domestic financial markets. Bloomberg reported that China's nominal GDP, which is unadjusted for inflation, is projected reach $28 trillion by 2025 in Citigroup's study. This is compared with $26 trillion for the U.S.-based on anticipated growth rates and a gradual appreciation of the yuan to 5 per dollar from 6.8 now. Chineseinvestors.com, Inc. (OTC: CIIX), China Finance Online Co. Limited (NASDAQ: JRJC), Jumei International Holding Limited (NYSE: JMEI), Weibo Corporation (NASDAQ: WB), Alibaba Group Holding Limited (NYSE: BABA).
Citigroup analysts led by Liu Li-Gang wrote, "In years to come, 2017 could be viewed as a tipping point for global asset allocation. Removal of restrictions to entry, together with eventual inclusion of China in various global capital market indexes, will raise foreign ownership of Chinese assets, likely creating further momentum for market broadening and deepening," Bloomberg reported.
Chineseinvestors.com, Inc. (OTCQB: CIIX) just announced this morning that it will attend the Southern California Investment Forum ('SCIF'), taking place August 24, 2017, at Morton's Steakhouse in San Francisco. The Company will also attend the MoneyShow conference at the Marriott Marquis in San Francisco, taking place August 24 - 26, 2017.
The MoneyShow is a global network that provides investment and trading education and hosts live and online events attracting over 75,000 potential investors, traders, and financial advisors from around the world.
In addition, the Company is excited to announce its partnership with Weibo whereby it will broadcast its daily stock commentary program, 'U.S. Stock Billionaire,' as well as roadshow and conference reports on Weibo's official YouTube channel. Currently, the official Weibo YouTube channel has more than 300,000 subscribers. The Company is confident that its partnership with Weibo will draw even more attention to the Company's programs, events and business updates.
"I am delighted that CIIX has been invited to attend the Southern California Investment Forum and MoneyShow San Francisco," says Warren Wang, Founder and CEO of CIIX. "MoneyShow hosts one of the most well-known investor conferences, which attracts traders and financial advisors from all over the world providing the Company with a valuable opportunity to network with top market experts, analysts and media companies. We encourage attendees to visit our booth at MoneyShow to learn more about CIIX and the incredible opportunities that await."
China Finance Online Co. Limited (NASDAQ: JRJC), a web-based financial services company that provides Chinese retail investors with online access to securities and commodities trading services, wealth management products, investment advisory services, as well as financial database and analytics services to institutional customers, on August 14th, announced its unaudited financial results for the second quarter and first six months ended June 30, 2017. Mr. Zhiwei Zhao, Chairman and CEO of China Finance Online, commented, "Our intelligent-finance driven fintech business is gaining traction as accredited retail investors began to subscribe our mobile application based analytical tools to guide their quantitative trading investment strategies."
Jumei International Holding Limited (NYSE: JMEI), China's leading online retailer of beauty products, on May 4th, announced that it had entered into definitive agreements to acquire equity interests in Shenzhen Jiedian Technology Co., Ltd for a total cash consideration of RMB 300 million. Jiedian is one of the leading players in the portable power bank sharing business. It facilitates master power charging boxes in highly frequented points of interest. Mr. Leo Ou Chen, Founder and CEO of Jumei, commented, "The sharing economy is rapidly developing as hundreds of millions of Chinese consumers have embraced internet mobility as a way of life, both professionally and socially."
Weibo Corporation (NASDAQ: WB) is a leading social media for people to create, share and discover Chinese-language content. Weibo provides an unprecedented and simple way for people and organizations to publicly express themselves in real time interact with others and stay connected with the world. On August 9th, the company announced its unaudited financial results for the second quarter ended June 30, 2017. "Revenues from key accounts and non-advertising all saw robust growth, while our profit and user base reached new highs," said Gaofei Wang, CEO of Weibo.
Alibaba Group Holding Limited (NYSE: BABA) aims to build the future infrastructure of commerce. On August 17th, Alibaba announced its financial results for the quarter ended June 30, 2017. Our technology is driving significant growth across our business and strengthening our position beyond core commerce," said Daniel Zhang, Chief Executive Officer of Alibaba Group. "The significant growth in customer management revenue represents the differentiated business value we provide to our customers," said Maggie Wu, Chief Financial Officer of Alibaba Group.
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