In this Friday, Oct. 23, 2020, photo, an employee sits at the Ant Group office in Hong Kong. (AP Photo/Kin Cheung)
In this Friday, Oct. 23, 2020, photo, an employee sits at the Ant Group office in Hong Kong. (AP Photo/Kin Cheung)China’s senior financial regulators said the country will take a more “uniform” approach to supervising fintechs, just days after the government blocked Ant Group’s record $34 billion public initial offering.

People's Bank of China Deputy Governor Pan Gongsheng speaks during the Bond Connect launching ceremony in Hong Kong. (AP Photo/Vincent Yu)
People's Bank of China Deputy Governor Pan Gongsheng speaks during the Bond Connect launching ceremony in Hong Kong. (AP Photo/Vincent Yu)Bloomberg on Thursday unveiled the first index geared towards liquid Chinese corporate bonds with investment-grade ratings, a development that comes as it is poised to complete a 20-month transition to add Chinese government and policy bank debt to its Global Aggregate Index, which is a flagship fixed-income benchmark.

A view of Shinjuku, Tokyo, Japan. (Photo by Jean Vella on Unsplash)
A view of Shinjuku, Tokyo, Japan. (Photo by Jean Vella on Unsplash)Japan unveiled plans Friday to create an English-speaking support office to usher foreign asset managers into the country, as part of its broader efforts to become the main global financial center in Asia.

Deutsche Bank has hired nearly 30 people away from Standard Chartered in recent months in a bid to bolster its wealth management unit in China, a spokesperson for the German bank said on Friday, making it one of several firms to focus more on the space as China opens up its financial sector.

In this file photo a man walks by Standard Chartered bank in London. (AP Photo/Sang Tan, File)
In this file photo a man walks by Standard Chartered bank in London. (AP Photo/Sang Tan, File)Standard Chartered will soon provide employees in several markets with greater flexibility in working patterns and locations, the U.K.-based bank said Friday, implementing lessons learned during the coronavirus pandemic to create a hybrid workforce of remote and office-based employees.

A logo for Swiss investment bank UBS in Zurich, Switzerland. (Photo by Claudio Schwarz on Unsplash)
A logo for Swiss investment bank UBS in Zurich, Switzerland. (Photo by Claudio Schwarz on Unsplash)Wealthy Chinese businessman Guo Wengui is suing Swiss investment bank UBS in London in an attempt to reclaim $500 million he lost after the bank called in a margin loan in 2015, Bloomberg reported Friday.

A Citibank sign in New York. (AP Photo/Mark Lennihan)
A Citibank sign in New York. (AP Photo/Mark Lennihan)Citigroup will manage newly sold securities in the U.S. for Chinese lender Lufax, which made its American exchange debut by raising $2.36 billion, the New York-based bank said on Monday.

The skyline of Shanghai, China, where UnionPay is headquartered. (Photo by Li Yang on Unsplash)
The skyline of Shanghai, China, where UnionPay is headquartered. (Photo by Li Yang on Unsplash)China’s UnionPay, the world’s largest credit and debit card brand, teamed up with Korean fintech Danal to offer payments in numerous currencies on a virtual card that will be released later this year, according to a local news report.

An investor checks stock prices through his smartphone at a brokerage house in Beijing, China, Dec. 20, 2019. (AP Photo/Andy Wong)
An investor checks stock prices through his smartphone at a brokerage house in Beijing, China, Dec. 20, 2019. (AP Photo/Andy Wong)Guotai Junan Securities completed the first securities lending transaction through China’s reformed qualified foreign institutional investor program, a step the country has taken to further open up its financial markets.

An office of Tata Consultancy Service near Mumbai. (Naveen Kumar Kotta/Creative Commons)
An office of Tata Consultancy Service near Mumbai. (Naveen Kumar Kotta/Creative Commons)Global blockchain initiative B3i Services AG has partnered with India’s Tata Consultancy Services to develop new technology with the goal of accelerating the digitization of the insurance industry, the companies said Wednesday.

An employee walks past the logo of Ant Group at its office in Hong Kong, Oct. 23, 2020. (AP Photo/Kin Cheung)
An employee walks past the logo of Ant Group at its office in Hong Kong, Oct. 23, 2020. (AP Photo/Kin Cheung)Chinese fintech Ant Group is unlikely to be able to move forward with its suspended initial public offering unless it makes multiple changes to appease regulators, amid speculation that controlling shareholder Jack Ma’s comments criticizing regulation as stifling innovation led to the suspension.

A collection of 500 Hong Kong dollar bills. (Photo by Macau Photo Agency on Unsplash)
A collection of 500 Hong Kong dollar bills. (Photo by Macau Photo Agency on Unsplash)Seven major banks placed their first transactions between two blockchain trade-finance platforms in Hong Kong and China, with the intent of simplifying the infrastructure for international trade.

The headquarters of the People’s Bank of China, in Beijing, March 10, 2019. (AP Photo/Andy Wong)
The headquarters of the People’s Bank of China, in Beijing, March 10, 2019. (AP Photo/Andy Wong)Chinese regulators issued draft microfinance business rules Monday, increasing what is required of online microlenders that provide loans to consumers and limiting the amount they can lend.

Workers in protective suits walk past a display board showing the stock market prices in the lobby of the Shanghai Stock Exchange building in Shanghai, China, Friday, Feb. 14, 2020. (AP Photo)
Workers in protective suits walk past a display board showing the stock market prices in the lobby of the Shanghai Stock Exchange building in Shanghai, China, Friday, Feb. 14, 2020. (AP Photo)The Shanghai Stock Exchange said on Tuesday that it suspended Ant Group’s initial public offering following a meeting the company’s leaders had with Chinese regulatory officials, citing what it said were significant issues, including changes in the fintech regulatory environment.

A branch office of China Pacific Insurance. (Shwangtianyuan/Creative Commons)
A branch office of China Pacific Insurance. (Shwangtianyuan/Creative Commons)China Pacific Insurance, China’s fourth-largest insurance company by net premiums written, posted a weakened bottom line in its third-quarter earnings report on Monday despite the country’s economic recovery following the COVID-19 pandemic.

A man walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, Oct. 12, 2020. (AP Photo/Vincent Yu)
A man walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, Oct. 12, 2020. (AP Photo/Vincent Yu)HKEX said on Monday that it will offer options and futures tied to Ant Group, which will launch when the Chinese fintech’s shares start trading on Nov. 5 for its blockbuster initial public offering that is set to bring in more than $34 billion.

The skyline of Beijing at night. (Scott Meltzer/Creative Commons)
The skyline of Beijing at night. (Scott Meltzer/Creative Commons)Genworth Financial said Monday that its long-delayed acquisition by China Oceanwide is on course to close by the end of November, after the Beijing-based company provided “satisfactory” evidence showing that Chinese private equity firm Hony Capital is able to provide the majority of the financing needed for the $2.7 billion deal.

In this file photo, tall buildings stand at the center of the city in Shanghai, China. (AP Photo/Eugene Hoshiko, File)
In this file photo, tall buildings stand at the center of the city in Shanghai, China. (AP Photo/Eugene Hoshiko, File)JPMorgan has reportedly completed a transaction to own 71% of its Chinese securities joint venture, inching closer to becoming the first foreign bank to gain full ownership of a securities entity, as China continues to welcome international players to its financial industry.

A Wall Street street sign is framed by a giant American flag hanging on the New York Stock Exchange in New York. (AP Photo/Mary Altaffer, File)
A Wall Street street sign is framed by a giant American flag hanging on the New York Stock Exchange in New York. (AP Photo/Mary Altaffer, File)Lufax, a Chinese online lending and wealth management firm, raised $2.36 billion through an initial public offering in the U.S., scoring one of the year’s largest listings in the country as geopolitical tensions continue to simmer.

In this Sunday, Sept. 1, 2019 photo, a man sets up his camera in the Victoria Peak area to photograph Hong Kong's skyline. (AP Photo/Jae C. Hong)
In this Sunday, Sept. 1, 2019 photo, a man sets up his camera in the Victoria Peak area to photograph Hong Kong's skyline. (AP Photo/Jae C. Hong)Canadian insurer and asset manager Sun Life Financial debuted a Hong Kong-based index fund that factors in environmental, social and governance concerns, the company said Friday, combining the growing investing trend of ESG with the long-standing one of passively managed funds.