China and Russia, both authoritarian powers, share a common distrust towards the US and are battling Washington’s diminishing influence in their own ways. The two countries work together in UN-led …
FINANCE
Has China Turned its Back on ‘Best Friend’ Russia?
China refused to join its close friend, Russia, in vetoing a U.S.-backed resolution in the U.N. Security Council deploring Russia’s attack on Ukraine. China abstained on the motion but also made …
China’s lottery sales down 13.8 pct in January
China’s lottery ticket sales reached 30.82 billion yuan (about 4.87 billion U.S. dollars) last month, down 13.8 percent year on year, data from the Ministry of Finance showed. Sales of lottery tickets …
China so far not helping Russia evade Western sanctions, US official says
China so far does not appear to be helping Russia evade Western financial sanctions on Moscow over its invasion of Ukraine, but doing so would “do profound damage” to China’s reputation, a senior …
U.S., EU Cut Some Russian Banks From SWIFT, Target Central Bank
Western nations agreed to unleash new sanctions to further isolate Russia’s economy and financial system after initial penalties failed to persuade President Vladimir Putin to withdraw his forces from …
China so far not helping Russia evade Western sanctions, says US official
WASHINGTON: China so far does not appear to be helping Russia evade Western financial sanctions on Moscow over its invasion of Ukraine, but doing so would “do profound damage” to China’s reputation, a …
China distances itself from Russia
China is attempting to distance itself from Russia as the scale of the invasion of Ukraine becomes clear, with Foreign Minister Wang Yi saying it was “absolutely imperative” for all sides to exercise …
China Bank beats 2021 profit expectations
Sy family-led China Banking Corp. significantly outperformed the market’s profit expectations in 2021 on the back of higher interest and fee-based earnings as well as effective cost …
China delays new bank disclosure rules after privacy outcry
China has walked back a new rule that would have increased surveillance on cash deposits and withdrawals just over a week before it was to take effect, suggesting a nod to public sentiment ahead of…
In Depth: China Overhauls $23 Trillion Supply Chain Finance Mechanism
China is about to rein in its booming, 167.23 trillion ($23 trillion) market for commercial acceptance bills, a risky, controversial form of business financing that played a role in the 2019 collapse …
China State Banks Restrict Financing for Russian Commodities
At least two of China’s largest state-owned banks are restricting financing for purchases of Russian commodities, underscoring the limits of Beijing’s pledge to maintain economic ties with one of its …
China Moves To Restrict Financing For Russian Commodities
Beijing, a key Russian ally, has moved to restrict financing for Russian commodities purchases through two of China’s largest state-owned banks …
Cracks emerge between Beijing and Moscow as two Chinese banks restrict lending
Two Chinese state-owned banks will restrict financing for Russian commodity purchases in a sign that cracks may be emerging between Beijing and Moscow as the Kremlin faces harsh international …
