China Baowu Steel Group, the country’s top steelmaker, has agreed to take a controlling stake in stainless steel giant Taiyuan Iron & Steel (Group) Co Ltd, also known as TISCO, in a move to further…
Monthly Archives For August 2020
Beijing Says Residents Can Go Mask-Free as China COVID Cases Hit New Lows
Despite the relaxed guidelines, a large proportion of people continued to wear masks in Beijing on Friday. Some said the mask made them feel safe, while others said social pressures to wear the masks ……
Water levels at China’s Three Gorges near maximum after flooding rains
Water levels at China’s giant Three Gorges Dam on the Yangtze river are inching closer to their maximum after torrential rains raised inflows to a record high, official data showed on Friday. ( read original…
Stymied at home, Korea’s mom and pop investors charge into China tech stocks
South Korean retail investors are stampeding into Chinese stocks in record numbers, ploughing hundreds of millions of dollars into a tech sector rush far removed from punishing taxes and regulations … ( read original story…
Report finds $50 billion of cryptocurrency moved out of China hinting at capital flight against Beijing rules
Over $50 billion of cryptocurrency moved from China-based digital wallets to other parts of the world in the last year, pointing to possibilities that Chinese investors are transferring more money … ( read original story…
X Financial Reports Second Quarter 2020 Unaudited Financial Results
PRNewswire/ — X Financial (NYSE: XYF) (the “Company” or “we”), a leading technology-driven personal finance company in China, today announced its unaudited financial results for the second quarter … ( read original story …)
China Just Killed Its $491 Billion Private Loan Market
The message to the private banking world is unclear. Beijing has vowed to cut the cost of borrowing, and its latest target is private loans. China’s Supreme Court ordered interest rates on private … (…
China’s Alibaba offers olive branch to Trump
Tech giant Alibaba has offered an olive branch to US President Donald Trump, as he continues to threaten Chinese firms. Chief executive Daniel Zhang said the online retailer’s policies “are fully … ( read original…
China reports 22 new COVID-19 cases; fifth day of zero local cases
China reported 22 new coronavirus cases in the mainland for Aug. 20, compared to seven a day earlier, the health commission said on Friday. ( read original story …)
China cenbank resumes 14-day reverse repos after near 2-month hiatus
China’s central bank will resume 14-day reverse repo operations for the first time in nearly two month on Friday, while injecting a total of 200 billion yuan ($28.93 billion) into the banking system … (…
China reports 22 new coronavirus cases on August 20; fifth day of zero local cases
China reported 22 new coronavirus cases in the mainland for Aug. 20, compared to seven a day earlier, the health commission said on Friday. ( read original story …)
X Financial Appoints New Chief Financial Officer
SHENZHEN, China, Aug. 20, 2020 /PRNewswire/ — X Financial (NYSE: XYF) (the “Company”), a leading technology-driven personal finance company in China, today announced that it has appointed Mr … ( read original story …)
China’s Covid Recovery Is Taking on Water
Much of the enthusiasm for China rides on expectation alone. Hopes that Beijing will spend, ease and build its way out out of the slowdown are pushing up proxies of economic activity. Two trillion ……
