China’s central bank said on Monday it will make interbank repo rates by depository institutions (DR) a key reference for monetary policy adjustment and financial market price-setting. ( read original story …)
Monthly Archives For August 2020
China’s big banks face fallout as pandemic forebearance expires
China’s big banks up provisions for COVID-19 risks * Bad loans rise at all five banks * Net interest margins fall at four of five banks (Recasts, adds comments from bank officials) BEIJING/SHANGHAI, … (…
Credit Suisse Plans to Double China Headcount in Five Years
Credit Suisse Group AG plans to double its headcount in China over five years as the firm accelerates its pursuit of the nation’s wealthy, seeking to move past a scandal that’s engulfed once-favored … (…
China’s Yuan Strengthens as Trade and Economic Concerns Fade
China’s yuan has rallied to its strongest levels in more than a year, as the country’s economy continues to recover and investors grow less concerned about fresh U.S. tariffs. ( read original story …)
Australian citizen detained in China amid tensions between Canberra and Beijing
The foreign minister, Marise Payne, says the Australian government was notified in mid-August that Cheng Lei had been detained … ( read original story …)
Huobi and OKEx Battle for Supremacy in China
Cryptocurrency exchange Huobi is taking aim at competitor OKEx in the business of trading bitcoin futures and other derivatives contracts, opening up a new front in a longstanding rivalry that has … ( read original…
Scientists see downsides to top COVID-19 vaccines from Russia, China
High-profile COVID-19 vaccines developed in Russia and China share a potential shortcoming: They are based on a common cold virus that many people have been exposed to, potentially limiting their … ( read original story…
China Forcing Experimental COVID Medicine on Uighurs: Report
Woman describes being sprayed with “scalding” disinfectant and forced to drink unidentified medication. ( read original story …)
Pintec wins ‘Best Consumer Finance Product in China’ award from The Asian Banker
PRNewswire/ — Pintec Technology Holdings Ltd. (‘Pintec’; NASDAQ: PT), a leading independent fintech solutions provider, … ( read original story …)
Can China look past counterfeits and superstition in its burgeoning second-hand fashion market?
While second-hand platforms like ThredUp and Depop have taken off in the West, China’s resale market has been stunted by fears over counterfeiting, the social status attached to new goods and even … ( read…
China’s Greenland Financial plans to raise $876 mln ahead of HK IPO – document
China’s state-backed Greenland Holdings’ financial arm is planning to raise up to 6 billion yuan ($876.41 million) in a pre-IPO round that will raise its valuation to 34 billion yuan, according to an … (…
What If China Gets the Covid-19 Vaccine First?
U.S. prestige could falter, the administration could take deadly risks, the world will have to rethink its alliances — and those are just a few of the possibilities. ( read original story …)
Four of China’s five largest state-owned banks prepare for bad debt from COVID-19
BEIJING/SHANGHAI – Four of China’s five largest state-owned banks said they have increased their provisions against bad debt to brace for future losses due to the impact of the global coronavirus … ( read original story…