People’s Bank of China to push yuan global use ‘to a new level’ China will continue to expand cross-border use of its domestic currency, the yuan, this year, the central bank says. The global use…
Monthly Archives For May 2018
China to expand cross-border RMB use
BEIJING – China will continue to expand cross-border use of its currency Renminbi, or yuan, this year, according to the central bank. The global use of the Chinese yuan is one highlight of China’s financial…
China’s exports rebound, trade surplus with US swells
HONG KONG — China’s exports rebounded in April and its politically sensitive monthly trade surplus with the United States grew for the first time in five months at a time of escalating friction between Beijing…
China April exports bounce back more than expected despite U.S. trade brawl
Imports in April also grew more robustly than expected, signaling China’s domestic demand is holding up well, good news for policymakers looking to soften the blow from any trade shocks. Some analysts, however, warned the…
Taiwan blames China for absence from U.N. health meeting
TAIPEI (Reuters) – China is disregarding the health of the people of Taiwan by blocking the island’s participation in an annual U.N. health meeting later this month, the Taiwan government said. Taiwan’s China policy-making body…
Major commercial banks raise Beijing mortgage rate
The Beijing branches of the Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, and Bank of China have decided to lift their floor mortgage rates for first-home purchasers from 1.05…
AMP plays down talk of China Life deal
Embattled wealth manager AMP has played down references in its board minutes released by the banking royal commission to exploring a deal with one of the world’s biggest insurers, China Life. The minutes of AMP’s…
Dimon Lays Out 100-Year China Vision With Trade Spat on Horizon
Dimon, 62, reiterated that JPMorgan still plans to achieve 100 percent ownership of a Chinese brokerage operation, adding that the bank is in the “process.” He said he hopes there won’t be a trade war…
Dimon Says China’s Yuan May Rival Dollar’s Role in 20 Years
China has a long list of financial reforms to tackle before the yuan can rival the global role of the dollar, according to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon. “Eventually, it will…
Banks fined for financial violations
was fined 1.1 million yuan for bundling the sales of WMPs with its financial leasing business, among other violations. The punishment comes as China’s regulators toughen their stance on market irregularities, targeting risky business such…
Ant Financial faces more curbs
The rules will force Ant and some of its peers in at least two financial industries to get licenses from China’s central bank and meet minimum capital requirements for the first time, said people familiar…
Opinion: Foreign Brands Are Frustrated by Chinese E-Commerce
It is difficult for foreign brands to work with these platforms, especially if they don’t have a legal entity or physical stores in China. Here are four reasons why. Recommended ReadingIs the Selling Power of…
CapitaLand CEO Says China Property Curbs Haven’t Impacted Demand
May.07 — CapitaLand President and Group CEO Lim Ming Yan discusses the state of China’s property market with Stephen Engle at the JPMorgan Global China Summit on “Bloomberg Daybreak: Asia.” ( read original story …)
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