China’s yuan is stronger than it has been since the start of the US-China trade war. That has left Beijing in a pickle. If the currency appreciates too quickly, the country’s financial markets could …
FINANCE
China aims to slow yuan’s rise but likely to avoid drastic steps – policy sources
China is likely to lean on incremental steps to slow the yuan’s gains to deter speculators and help its exporters, shunning drastic measures that could undermine its goal to liberalise the currency …
China stocks end higher on financial boost, but post weekly losses
China stocks ended higher on Friday on gains for financial firms, following Beijing’s stamp duty cut proposal, though they post weekly losses amid renewed worries over Sino-U.S. tensions.
Alibaba’s Ant Secures Regulatory Approval For Consumer Finance Firm In China
Alibaba Group Holding Ltd (NYSE: BABA)-backed Ant Group has secured a key China Banking and Insurance Regulatory Commission approval to operate a consumer finance company, CNBC reported on Thursday.
Ant faces dent in profitability with new consumer finance unit
Ant Group’s most lucrative business of consumer lending is likely to become less profitable as the financial juggernaut emerges from a six-month regulatory crackdown aimed at curbing its influence..
Beijing’s jawboning sets yuan on track for biggest weekly loss in four months
China’s yuan barely moved against the dollar on Friday but was set for its biggest weekly loss in at least four months following a string of …
China greenlights Ant Group spinoff of consumer finance business
Chinese regulators gave their approval Thursday to Jack Ma’s Ant Group to start operating a consumer finance unit after months of pressure to adopt more comprehensive oversight and obtain necessary …
Jack Ma’s Ant Group receives consumer finance licence
Chinese regulators approved Jack Ma’s Ant Group to begin operating a new consumer finance company, in the first concrete sign of an easing of tensions with Beijing after Ant agreed to a “rectification …
Consumer finance firm of Ant Group approved for business
China on Thursday approved the opening of a consumer finance company of Ant Group a major financial services technology provider in …
China’s yuan slips against US dollar after Beijing taps financial tools to cool exchange rate
China unleashed tools from its foreign exchange arsenal this week to tame the yuan’s rise against the US dollar, but economists say Beijing faces an uphill battle long term.
China Development Bank sells 2 bln U.S. dollar onshore bonds
The China Development Bank (CDB), one of the country’s policy banks, issued 2 billion U.S. dollars in onshore bonds on Thursday, its first such USD-denominated bond issuance for six years. The …
Beijing to Distribute $6.3M in Digital Yuan to Its Citizens
PBoC and Beijing have announced a new digital yuan testing. Beijing plans to distribute $6.3 million worth of digital yuan to its citizens via red envelopes. The Deadline for citizens to register for …
China Allows Ant to Start Consumer Finance Unit Amid Overhaul
China is allowing Jack Ma’s Ant Group Co. to start operations at its consumer finance company, the first signs of progress after regulatory crackdowns that torpedoed the fintech giant’s record listing …
