China’s banks and investment firms are calling on essential staff to live at the office this week to avoid any trading disruption during Shanghai’s massive Covid lockdown.
FINANCE
Bank of China shifts attention back to mainland for growth: S&P
Traction from its wealth management business will support profits. It’s back to the basics for Bank of China (BOC), one of China’s biggest lenders, as it is expected to pivot its focus back to its…
China stocks end higher on Ukraine peace talks, policy easing bets
China stocks closed higher on Wednesday, with the property sector leading gains, as traders found comfort in the progress made in Ukraine-Russia peace talks and awaited more stimulus measures …
China may see a ‘mini repeat’ of the 2008 global financial crisis, says former central bank adviser
Li Daokui, professor at Tsinghua University and former adviser to China’s central bank, says a major factor would be the country’s zero-Covid policy.
WRAPUP 1-China’s largest banks signal tough times ahead
Three of China’s largest banks have said that the country’s lenders face multiple headwinds this year that include the pandemic, global politics and domestic turmoil in the real estate industry. China …
China’s yuan firms to 9-day high, but yield gap pressure remains
China’s yuan strengthened to its firmest level against the dollar in more than a week on Wednesday after the central bank set its strongest daily fixing in seven days, and as hopes for Ukraine-Russia …
China Minsheng Bank’s 2021 Net Profit Rose Slightly
By Ben Otto China Minsheng Banking Corp.’s net profit rose slightly in 2021 as lower operating income was offset by a decline in credit impairments.
China’s Stocks Are Still Pricing In a Lot of Pain
Ignoring the extremes of optimism and pessimism can spare equity buyers some painful mistakes — such as piling into tech stocks at the height of the dotcom boom — and may signal lucrative …
Alibaba Makes Metaverse Bet in China’s Magic Leap Rival
Alibaba Group Holding Ltd. led a $60 million investment in Chinese augmented reality glasses maker Nreal, joining rivals Tencent Holdings Ltd. and ByteDance Ltd. to stake a claim in the future of the …
In China’s Wall Street, bankers and traders sleep in offices to beat COVID lockdown
More than 20,000 bankers, traders and other workers are bedding down in office towers in Shanghai’s Lujiazui district as they bid to keep China’s giant financial hub ticking over through a COVID-19 …
China Is Systemic Rival Threatening German Economy, Lindner Says
China doesn’t respect the principles that Germany stands for and is a “systemic rival” to Europe’s biggest economy, according to Finance Minister Christian Lindner.
CIB: Helping China build a sustainable future
Chinese financial institutions are among those at the forefront of the global push to accelerate the transition to a low carbon future. Industrial Bank of China a pioneer of green finance in the …
Beijing to boost green devt of Belt and Road
BEIJING: China will promote the green development of the Belt and Road Initiative, a move that will strengthen international cooperation, the country’s top economic …
