Asian Development Bank said on Wednesday that weak revenues and high spending erase fiscal surpluses and expand deficits across developing Asia.
FINANCE
China urged to fully fund Argentina’s US$8.3 billion nuclear plant as debt tightens
A belt tightening deal with the IMF has prompted Buenos Aires to ask Beijing to rework February agreement that has Argentina picking up 15 per cent of the bill.
In the News: US-China Audit Rules; Shanghai Tax Relief; and Finance Social Credit
CSRC proposes an update to confidentiality rules for overseas listings; Shanghai rolls out 21 economic relief measures for firms amid lockdown; and social credit to be further developed more integrati …
Toyota readies year’s first China ABS deal
Co is looking to tap the onshore securitization market for the first time in 2022 with a Rmb4bn ($629m) Toyota Glory ABS deal next week. The originator, Toyota Group’s Chinese auto finance arm, came …
China’s online insurer ZhongAn buys stake in Indonesian digital lender Bank Aladin
JAKARTA – China’s first and largest online insurer ZhongAn Online P&C is buying a stake in Indonesian tech-based syariah lender Bank Aladin, online business and economic research firm Katadata …
China Covid Lockdowns Likely To Be Followed By Policy Easing In 2nd Half — Matthew Asia’s Andy Rothman
Economic fallout from continuing Covid lockdowns in Shanghai and elsewhere in China is hard to predict. Overall declines in China share prices this year, especially in Hong Kong, contributed to a drop …
China’s cash-strapped Kaisa in strategic pact with state firms
Cash-strapped Kaisa Group entered into a strategic co-operation agreement with state-owned China Merchants Shekou Industrial Zone Holdings and China Great Wall Asset Management on joint venture …
China Tech Stocks Track Overnight Weakness After Hawkish Fed
Chinese tech stocks fell, tracking overnight weakness in their U.S. peers, as hawkish comments from the Federal Reserve dampened sentiment toward richly-valued growth shares.Most Read from BloombergU.
China, Ukraine, and the Fed will shock Asia’s economy this year, World Bank says
The World Bank has slashed China’s economic growth to 5.0%, making the nation one of three major shocks forecasted to hit Asian economies this year.
Ukraine war: Russia turns to China for bank card microchips as Western sanctions bite
More Russians are using the domestic Mir payment system, and some banks are issuing the cards in a co-brand with China’s UnionPay.
China outflows drive emerging markets downturn
Emerging markets suffered their first portfolio outflows in a year in March, driven by investors selling Chinese assets and growing anxiety over …
Global Times: China’s central bank adds 6 more cities to digital yuan testing
(April 5): The People’s Bank of China (PBC) vowed to include six more cities … In addition, multiple digital yuan trial settings in Beijing and Zhangjiakou in North China’s Hebei Province during the …
Why China’s CIPS Matters (and Not for the Reasons You Think)
While China’s CIPS would not help Russia evade the full brunt of U.S. and allied sanctions, the U.S. should keep a watchful eye on CIPS because it is a crucial piece in China’s broader ambition…
