BEIJING, Dec. 1 (Xinhua) — New rules regulating the application and use of bank cards took effect Thursday as China’s central bank decided to crack down on illegal practices. An individual can now only open…
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China backflips on currency policy with controls to stem yuan’s outflow
China’s central bank will limit the amount of renminbi that Chinese companies can remit outside the country, imposing a cap for the first time in more than two decades to stem the yuan’s outflow amid…
China looks to clamp down on foreign investment spending
regulators are contemplating new measures that could include detailed scrutiny of purchases outside China and a temporary cap on overseas buying, set at $10-billion (U.S.) for foreign investments, $1-billion for assets outside a company’s core…
China Unicom (CHU) Catches Eye: Stock Moves 6.7% Higher
China Unicom (Hong Kong) Limited CHU was a big mover last session, as the company saw its shares rise nearly 7% on the day. The uptrend was driven by the news reports suggesting that the…
China's AliPay apologizes after soft porn floods its payment app
China’s answer to PayPal has apologized after a new social media feature on its payments app was hijacked by promoters of soft pornography. Alibaba (BABA, Tech30) affiliate Ant Financial launched Circles on its Alipay app…
China's economic, financial progress applauded by IMF, WB officials
China has made great progress in economic growth and financial development, which reflects the government’s sound and effective management, officials with the International Monetary Fund (IMF) and World Bank have said. The officials paid a…
China central bank injects more funds into financial market
China’s central bank said Thursday it had put 739 billion yuan (107 billion U.S. dollars) into the financial market through medium-term lending facilities (MLF) last month. Total outstanding MLF loans to financial institutions stood at…
No Chinese financial crisis over next three years, says S&P Ratings
A growing number of commentators now fear China’s growing debt mountain has become a ticking time bomb. But they might be worrying overly, according to S&P Global Ratings, which thinks a financial crisis is unlikely…
Tradeshift launches joint ventures in China on supply chain digitalization
SAN FRANCISCO, Ca.–Tradeshift launched two new joint ventures in China to connect millions of trading partners, digitalize the transactions between them, and offer accessible trade-based financial services to SMBs in the region. The joint ventures…
China Emerges As The Biggest Advanced Fintech Market In The World
China is the world’s largest financial technology market, with a market size greater than US$1.8 trillion in 2015. In addition, it is a global leader in every aspect, including market structure and user habit. Out…
China's private-sector engine revs up, but will it keep firing?
TANGSHAN/GUIYANG, China (Reuters) – Toilet manufacturer Fenghua Ceramics Co is building a factory over farmland in north China’s Tangshan city, its first major investment since 2000. While it plans to boost annual production by 20…
China using AI to censor sensitive topics in online group chats
China appears to have massively upgraded its powerful online censorship apparatus, using it to more severely block sensitive topics in group conversations while allowing freer rein in private chats – a sign, one expert says,…
China hikes tax on imported luxury cars
The Finance Ministry said it is aimed at encouraging “rational … might run afoul of Beijing’s World Trade Organization commitments to treat foreign and domestic goods equally. China has been the fastest-growing market for Rolls…
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