Other banks penalized include local branches of Bank of Ningbo Co. and Agricultural Bank of China. Beijing has been ramping up efforts to halt a flood of money leaving the country in response to an…
Monthly Archives For July 2017
New framework unveiled in China for Bitcoin, blockchain technology
This story was delivered to BI Intelligence “Fintech Briefing” subscribers. To learn more and subscribe, please click here. Initial coin offerings (ICOs), a form of fundraising involving digital tokens, have gained popularity recently, prompting diverse…
China’s Ofo in talks to raise $1 billion, led by SoftBank: sources
For SoftBank, which recently launched a near $100 billion technology fund, an investment in Ofo would be another bet on China’s sharing-based economy that has already attracted billions in venture capital. The Japanese conglomerate in…
China to boost foreign, private investment, defuse local gov’t debt risk
BEIJING, July 28 (Xinhua … and safeguarding the country’s financial stability, according to a statement issued after the meeting. ( read original story …)
China vows to curb rise in local government debt via ‘disguised channels’
BEIJING (Reuters) – China will resolutely curb the rise in hidden local government debt via “disguised channels”, although risks posed by the overall government debt load are generally under control, finance ministry officials said on…
Sino-US trade and investment relationship needs fairness and reciprocity
China is much less open to the US, especially in financial sectors such as banking, insurance, and electronic payments. However, the fact is that the opposite may also hold true. For the US, the financial…
Is the new financial information swapping scheme a ticking bomb for China’s richest?
Some of China’s richest individuals – who have been transferring substantial assets overseas for decades – could be vulnerable under a new schemeannounced recently, that tax agencies in Hong Kong and mainland China can collect…
China’s Baidu profit jumps as focus on mobile, AI narrows
The result comes as Baidu narrows its attention to just a handful of areas outside its core business, while the other two of China’s big-three tech firms – Tencent Holdings Ltd and Alibaba Group Holding…
UK wants to send ‘colossal’ warships to test Beijing’s claims in S. China Sea
In an interview with the Reuters news agency, UK Defense Minister Michael Fallon said the deployment area was not finalized “but we won’t be constrained by China from sailing through the South China Sea.” Speaking…
‘Panda cruelty’ video goes viral in China
Mr Guo told state news agency Xinhua that what is not shown in the video … The giant panda is regarded as a symbol of China and is a highly-protected species under the government. The…
Property makes surprise contribution
Property investment grew by 8.5 percent in the first half compared with the same period last year, boosting construction and other sectors Much of the growth was in China’s lower-tier cities, some of which have…
China accuses Canadian-Chinese tycoon of major role in pyramid scheme
I cannot sleep these two days; I am a little bit depressed,” he said. Mr. Gong defended his business in China, saying he uses the Internet to sell health products there and engages in multilevel…
Ajit Doval visit: Chinese media says no compromise on Doklam
It said a unilateral withdrawal by India was a precondition for dialogue. This comes as National Security Adviser Ajit Doval holds talks in Beijing. As National Security Adviser Ajit Doval holds talks in Beijing, China’s…
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