US Treasury Secretary Steve Mnuchin announces measures taken to maximize pressure on North Korea to abandon its weapons programmes Kevin Lamarque/Reuters The Trump administration has hardened its approach to China, blacklisting a small Chinese bank…
Monthly Archives For July 2017
China’s ICBC says checks of loans to big acquirers are routine
BEIJING Industrial and Commercial Bank of China (ICBC) said on Friday its checks of loans to companies that made overseas acquisitions is routine, following reports that the regulator had ordered lenders to assess credit extended…
USA blacklists China bank, revving up pressure over NKorea
The new sanctions against one Chinese bank, one Chinese business and two Chinese individuals are not a total surprise. On Twitter, Trump said China’s efforts on North Korea have “not worked out”. It is pertinent…
China’s markets could CRASH and send shockwaves around the world, economists warn
Experts say the authorities must press on with trying to clean up debt. Ms Beamish said China is likely to dodge full-scale financial armageddon but said reckoning will come. She added: “If China’s policymakers do…
China exposes US$120 million local government debt scandal
A fresh scandal involving 818 million yuan (US$120 million) of murky local government debt has been exposed by China’s finance ministry, in another demonstration of Beijing’s determination to clean up the troublesome sector. The municipal…
U.S. sanctions Chinese bank for helping North Korea finance nuke program
“The designation will make reputable Western banks ask questions about larger financial institutions in China,” said Ruggiero, who is now a senior fellow at the non-profit Foundation for Defense of Democracies. Predictably, the Chinese communists…
Blacklisted China bank cited as a N. Korea conduit to global finance
BEIJING–Washington’s move to shut off Bank of Dandong from the U.S. financial system punishes a small regional Chinese lender with what U.S. authorities say has been an outsized exposure to North Korea and its banned…
Hong Kong to be staging point for plan to draw 100 billion yuan of capital into China’s bond market
All this capital will be routed through Hong Kong, further cementing the city’s role as an integral part of China’s effort to integrate its financial system with global financial markets. A successful Bond Connect is…
China lashes out at US as Trump-Xi honeymoon ends
China lashed out at the US on Friday in protest at an apparent … a Chinese bank near the border with North Korea, from the US financial system for helping Pyongyang engage in money laundering.…
China says risk of gov’t debt controllable
Authorities have assigned the debt ceiling and the value of government debt outstanding has been declining with risks diminishing, said Wang Kebing, deputy head of the Ministry of Finance budget department. Most of the problems…
Trump taking wrong approach to China, says Reagan official who helped ‘Star Wars’ beat the Soviets
The key is, China has done it through technology-based planning.The country “is run by engineers and physicists, not MBAs and economists,” Sekora said. Technology-based planning over a finance-based approach By stark contrast, Trump is merely…
China’s Xi talks tough on Hong Kong as thousands protest for democracy
Chinese President Xi Jinping swore in Hong Kong’s new leader on Saturday with a stark warning that Beijing won’t tolerate any challenge to its authority in the divided city as it marked the 20th anniversary…
China’s Xi: No tolerance for subversion in Hong Kong
Chinese President Xi Jinping warned Saturday that any activities in Hong Kong seen as threatening China’s sovereignty and stability would be “absolutely impermissible,” employing some of his harshest language yet against burgeoning separatist sentiment in…
