The operator of KFC in China is rolling out a futuristic system of paying at a fast-food counter via facial recognition, as the country embraces the technology for everything from toilet paper to travel. The…
Monthly Archives For September 2017
China’s central bank winning its numbers game over currency
China is expected to announce another monthly rise in its foreign exchange reserves on Thursday in the latest sign that the country’s central bank has won the battle to curb the country’s capital exodus and…
China follows ban on digital coin offerings with order to banks to stop opening accounts for virtual fundraisers
The People’s Bank of China said in a notice made public on Tuesday that banks and payment companies must search individual accounts related to cryptocurrency platforms and restrict any transactions in cases where large sums…
China Banks, Oil Giants at Risk From Trump’s Sanction Threat
One Republican congressman called out Bank of China Ltd. as a potential sanction target, and Treasury Secretary Steven Mnuchin said punishing specific entities is an option. China is the U.S.’s largest trading partner, with $578.6…
China’s Most Dangerous Bank
Forget China’s debt binge, piles of bad loans and billions in dodgy investment products, investors have fallen in love with Chinese banks again. Their favorite object of affection is China Merchants Bank, whose Hong Kong-listed…
China Bans ICOs, Citing Scams And Investor Risks
In what might be a major regulatory shot across the initial coin offering (ICO) bow, China has put in place an immediate ban on funding of those offerings. TechCrunch reported that the nation’s central bank…
Four ICO Startups Refund Investors Hours After China Bans Token Sales
This week China’s central bank declared Initial Coin Offerings (ICO) illegal in the country, sending shockwaves throughout the entire cryptocurrency environment. The Peoples Bank of China (PBoC) alongside government officials, stated that not only is…
Debt’s so bad even China bankers call it a ‘bubble’
But it is news that the situation is so bad that even Chinese bank executives are willing to say they’re in a bubble. It’s a “bubble,” according to Lai Xiaomin, chairman of China Huarong Asset…
China’s Big Banks Still Have a Credibility Gap
For China’s big banks, business is looking better than it has in years. Investors shouldn’t be fooled by the act. Midyear results for the likes of ICBC and Bank of China show China’s regulatory crackdown…
China Investment Corp. cuts stake in Teck Resources to 10.4%, from 17.8%
China Investment Corp. has reduced its holding in Teck Resources Ltd. (TSX:TECK.B) by more than one-third, to 10.4 per cent. The Vancouver-based mining company says a CIC subsidiary has sold 42 million class B Teck…
China’s economic growth statistics may finally add up, in 2019
For local officials in China’s provinces keen to boost their chances of promotion, the days of being able to puff up the output data they send to Beijing may be coming to an end. Fifteen…
U.S. senators urge Trump admin to raise pressure over China financial market access
WASHINGTON (Reuters) – Republican U.S. senators on Tuesday called on the Trump administration to increase pressure on China to remove foreign ownership curbs that bar American financial companies from freely operating in the world’s second…
China’s fintech firms eye overseas IPOs to fund growth as regulations tighten at home
A new wave of initial public offerings (IPOs) by mainland Chinese financial technology (fintech) companies is taking shape as dozens of unprofitable technology start-ups rush to raise funds overseas amid tightened regulations at home. The…
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