CBIRC is likely to adjust the limit for bank wealth management products' exposure to non-standard investments, known widely as "shadow banking" products, one of the people told Reuters at the time.
ST Chua, principal of newly formed venture capital firm Sun SEA Capital, believes that it is time for this group to help plug the long-standing Series B (US$1 million to US$3 million) funding gap.
He was in charge of HNA’s strategy and ran day-to-day operations, sources familiar with the matter have said, while his fellow chairman and co-founder Chen Feng was often the public face of the group.
This modular, easily integrated 'build versus buy' solution has made the digitisation process a much easier and more affordable option for companies ranging from the largest financial institutions to micro or SME enterprises.
Ambani has also capitalized on India’s ongoing bad-debt issues with purchases of distressed or insolvent companies including a local textile-maker, a carbon-fiber firm and the wireless assets of an indebted telecom company.
India is the fastest-growing wealth market globally, with the number of high net worth individuals rising 20 percent in 2017 from a year earlier, according to a recent survey by Capgemini SE.