Banks and other licensed financial institutions handling relevant transactions must also validate and store client’s information, according to the joint order issued by the People’s Bank of China …
FINANCE
China’s Two Traps
Some of these developments, especially rising corporate debt and non-performing loans, hark back to conditions in South Korea before the outbreak of the Asian financial crisis in the late 1990s. China …
China Development Financial Leasing Related Content
CDB Aviation, a wholly-owned Irish subsidiary of China Development Bank Financial Leasing, delivered the first of up to five Airbus A320neo aircraft to flynas, a Saudi Arabia-based air carrier. The …
HSBC – profits rise, uncertainty in China
$500m charge for expected credit losses, most of which relates to uncertainty in China’s commercial real estate sector … Looking ahead, HSBC expects mid-single-digit lending growth in the new …
Commemorative coins, banknotes for Beijing 2022 gain popularity
The banknote features a watermark of Bing Dwen Dwen, the Olympic mascot. Many people waited in line for the limited edition commemorative coins and banknotes before the bank opened in Shanghai. Due to …
Swiss banking on China’s Winter Olympics legacy
XU JINQUAN/XINHUA GENEVA－Switzerland Tourism, the national marketing and sales organization for the Alpine country, expects to reap long-term benefits from the Beijing 2022 Olympic Winter Games, …
China Tells Banks, State Firms to Report Exposure to Jack Ma’s Ant
after state-owned bad-debt manager China Cinda Asset Management Co. surprisingly backed out of a plan to take a major stake in Ant’s consumer finance unit. The fintech firm has yet to apply for …
After Another Developer’s Surprise Debt Crisis, China May Open Up To More Foreign Investment
One of the supposed bright spots in China’s real estate market is now on the edge of default, and the government may finally enact changes as a result.
China’s trade disputes with Australia, US and Japan push Beijing to alter course and plan accordingly
Experts say geopolitical and trade rifts could persist, but China is also looking to join larger multi-country pacts while ramping up investment in home-grown hi-tech innovation.
China’s central bank postpones regulation on cash withdrawals, deposits for ‘technical reasons’
China’s central bank said on Monday that it will postpone for technical reasons the implementation of a recent regulation that mandate financial institutions to verify clients’ identity and manage …
World Bank, IMF lending to Nairobi rise as Kenya-China loan deals drop
World Bank and the International Monetary Fund (IMF) have stepped up lending to Kenya over the past three years, which has seen Chinese loan deals reduce, firming the grip of Bretton Woods …
China’s Property Bubble Collapse Gets Worse
A few months ago, when investors started to discuss the troubles of Evergrande, China’s largest real estate developer, many economists saw the problem as isolated and insignificant.
Beijing sanctions Lockheed, Raytheon again over Taiwan arms sales
China has placed Lockheed Martin Corp and Raytheon Technologies Corp under sanctions over arms sales to Taiwan, the government said on Monday, at least the third time it has announced punishments …
ADVERTISEMENT
