E-commerce prowess and Hong Kong’s financial chops can ward off the threat from digital dollars.
FINANCE
China’s auto dealers urge automakers to pay cashbacks within 30 days
BEIJING (Reuters) -Chinese auto dealers on Monday urged automakers to pay cashback incentives within 30 days to help to alleviate their financial pressures. The China Auto Dealers Chamber of Commerce …
Kremlin unable to come up with funds to develop rail link with China
The rail monopoly Russian Railways is postponing a US$10 billion project that was intended to boost exports of raw materials to Russia’s largest trading partner, China. Source: The Moscow Times …
China’s Vice Finance Minister meets AmCham delegation, calls for joint efforts to implement outcomes of agreed consensus reached at trade talks
China’s Vice Minister of Finance Liao Min meets with a delegation from the American Chamber of Commerce in China (AmCham China) in Beijing on June 18. Photo: the official website …
China needs yuan-backed stablecoins ‘sooner rather than later’, state media urges Beijing
Beijing must be proactive in “adapting to the trend of stablecoins”, and waiting is not an option as the US has a head start, warns an article on Monday in state media that simultaneously calls…
Beijing could use Hong Kong as test bed for yuan-linked stablecoins: Morgan Stanley
Beijing’s digital currency ambitions are unlikely to unlock the full potential of the yuan’s internationalisation, analysts say.
Beijing Is First Chinese Local Gov’t to Tap Special Bonds For Gov’t Investment Fund
(Yicai) June 23 — Beijing is set to become the first local government in China to channel funds raised through the issuance of special-purpose bonds into its government-guided investment fund, …
What can we expect from the Asian Infrastructure Investment Bank meeting this week?
The Asian Infrastructure Investment Bank (AIIB) kicks off its annual meeting on Tuesday in Beijing, but why is it important for Europe? View on euronews …
China needs to take a long-term view and let the renminbi rise
The writer is an economist and also sits on the board of the Bank of China (UK). He writes in a personal capacity China faces a currency trilemma. Should its policy be for the renminbi…
Hong Kong must grow despite persistent US-China trade tensions: Paul Chan
City’s finance chief outlines efforts to diversify economy and wants Hong Kong to overtake Switzerland as world’s biggest wealth management centre Challenges and volatility will persist despite a …
China closes gap with U.S. as African countries, others join yuan payment system
China has added more financial institutions from Africa, the Gulf, and Central Asia to its cross-border yuan payment system, a bold move to strengthen the global role of its currency amid intensifying …
Could China’s rare earth pivot ease strain on the automotive sector?
China has approved some rare earth export licences, offering slight relief to strained global supply chains. Yet with shipments still down sharply and licensing opaque, Europe’s auto sector remains …
Israeli strikes big worry for Iran’s economic lifeline China, its years-long West Asia gambit at risk
Israel’s recent attacks on Iran have raised serious concerns in China, threatening to disrupt Beijing’s key energy supply routes and its hopes for a bigger role in the region, according to a report …
