HSBC Holdings on Wednesday reported a $3 billion charge on its stake in a Chinese bank amid mounting bad loans in the world’s second-largest economy, taking the shine off a record annual profit.Shares …
Monthly Archives For February 2024
China tightens reins on quant trading after three-day ban on fund
The stock exchanges of key financial hubs Shanghai and Shenzhen issued notices late Tuesday announcing they will deepen their scrutiny of market trades conducted by quant funds.
China Unicom becomes Middle Kingdom’s second carrier with a billion subscribers
Chinese mega-carrier China Unicom has claimed it’s signed up the billionth subscriber for its “Big Connectivity” service, making it the second Middle Kingdom carrier to operate at that scale. We know …
HSBC’s Q4-23 profit down 80% after taking $3b charge on its China bank stake
While rising interest rates globally boosted HSBC’s full-year earnings to a record, the bank has faced headwinds over the past year in China, one of its key growth markets. The ongoing real estate …
Russian media: China’s 3 biggest banks stop accepting payments from sanctioned Russian institutions
The restrictions have been introduced by the Industrial and Commercial Bank of China (ICBC), the China Construction Bank (CCB), and the Bank of China, the Russian state news outlet Izvestiya said.
Bank of East Asia cut its exposure to China’s troubled commercial property sector last year
Hong Kong’s largest family-owned lender said its non-performing loans in mainland China dropped by 0.47 percentage points to 2.68 per cent at the end of 2023 compared with the first half, as its …
China’s central bank slashes mortgage reference rate to tackle property crisis
(MENAFN) In a bid to address an enduring property crisis, China’s central bank has taken unprecedented measures by slashing its key mortgage reference rate. The People’s Bank of China (PBOC) declared …
Xi Jinping’s Socialist Solution: China’s Response to the Real Estate Crisis
Government authorities are predicted to intervene directly in the house rentals and sales market. According to the Wall Street Journal (WSJ), Chinese President Xi Jinping wants to entrust the state …
EU agrees new sanctions on Russia, blacklisting companies in mainland China for the first time
The European Union agreed on Wednesday to slap Russia with a new round of sanctions, which for the first time target companies in mainland China suspected of helping the Kremlin get hold of forbidden …
Letter of Credit Confirmation Market Report 2024-2028, 2033: Digital Transformation, Blockchain Adoption, and Collaboration Driving Worldwide Growth
Blockchain technology streamlines and secures international … The countries covered in the letter of credit confirmation market report are Australia, Brazil, China, France, Germany, India, Indonesia …
China Responds to Possible US Sanctions for Helping Russia’s Ukraine War
Both Congress and the European Union are reportedly mulling sanctions over alleged Chinese assistance that benefits Russia’s war machine.
China’s largest banks stop servicing sanctioned Russian companies
China’s major banks, specifically the Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), and Bank of China, have ceased to accept payments from Russian financial …
Asia’s rising economies are more than ‘China Plus One’ destinations
In this Year of the Dragon, several other emerging regional economies are poised to rise as the new dragons. The original dragon economies of Hong Kong, Singapore, Taiwan and South Korea achieved …
ADVERTISEMENT
