Leaders of the China-backed Asian Infrastructure Investment Bank touted its growing membership and commitment to sustainable development at its annual meeting, even as environmental groups were disappointed by its openness to investing in coal projects.…
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South Korea Finance Chief Hopeful of Easing Tensions With China
Kim says Korea-U.S. free trade is mutually beneficial South Korea’s new finance chief said he hopes China and his country can put aside their political rift to forge closer economic ties, and bring about an…
China’s month-on-month home price growth remains robust in May
BEIJING Prices in China’s sizzling property market kept pace in May with the previous month, indicating resilient demand despite the imposition of tougher official measures to curb surging prices. Firm price gains highlight the challenge…
Iran, China hold joint naval drill in Persian Gulf
The official IRNA news agency said Sunday’s drill included an Iranian warship as well as two Chinese warships, a logistics ship and a Chinese helicopter that arrived in Iran’s port of Bandar Abbas last week.…
Turbulence on Paris-China flight injures 26
Passengers suffered broken bones, cuts to the scalp and soft tissue injuries, the Xinhua state news agency reported. China Eastern Airlines later said it was crucial passengers wear seatbelts as flights descend. “I was on…
China, Panama diplomatic drive puts business first
PANAMA CITY China and Panama sped up efforts in recent weeks to establish diplomatic ties, urged on by business leaders in both nations who for years advocated cutting the relationship with Taiwan in favour of…
China’s quantum leap in space a step toward unhackable communications
“We have done something that was absolutely impossible using conventional approaches,” said Jian-Wei Pan, project leader and physicist at the University of Science and Technology of China in Hefei. Dr. Pan suggested his team’s achievement…
Pilot zones will boost green finance
Incentives will be established to boost the development of green finance, especially interest discounts and tax incentives, from the central and local governments, Chen Yulu, vice-governor of the People’s Bank of China, said during a…
Hong Kong pushing for regional AIIB office, says finance chief
Hong Kong, which last week joined the Beijing-led Asian Infrastructure Investment Bank by agreeing to pay US$155 million over five years, is now lobbying the AIIB to set up a regional office in the city,…
Securitization boom exposes China’s slapdash deleveraging efforts
Bank of Tianjin issued an ABS in July 2015 that was created from loans to just 22 borrowers, with lending to Shandong Shanshui Cement Group, a struggling cement maker, accounting for 12 percent of the…
Meet the Chinese Finance Giant That’s Secretly an AI Company
If you get into a car accident in China, you can simply pull out your smartphone, take a photo, and file an insurance claim with an AI system. That system, from Ant Financial, will automatically…
Anbang’s Chairman, China’s Financial Repression, Proving Milton Friedman Right Once Again
Quite why the Chinese police have decided to detain Wu Xiaohui, the Chairman of Anbang, is unknown. Certainly, he tried to do a deal with Jared Kushner but despite the lurid imaginings of some on…
How Anbang Could Clog China’s Financial Plumbing
China’s decision to detain the chairman of Anbang Insurance Group, one of the country’s most acquisitive companies, is stunning in itself. The knock-on effects on the Chinese financial system could deepen the drama. The initial…
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