The 102-year-old lender announced last February that it was reorganising its mainland operations after posting its worst annual results in a decade in 2019, driven by higher impairment charges. The … ( read original story…
FINANCE
Woman awarded $7,700 for five years of housework in China divorce ruling
Case is believed to be the first to set a monetary value on housework since the implementation of a new civil code … ( read original story …)
Moutai’s $80 Billion Rout Sends Signal for China’s Stock Market
Kweichow Moutai Co. investors are selling their shares at the fastest pace in more than two years, a warning for a market that owes much of its rally to a handful of large caps.The biggest…
China Life Insurance conducts probe after complains over an alleged financial fraud went viral online
China Life Insurance Company’s logo stands atop a building in Beijing. Photo: CFP. The state-owned China Life Insurance is investigating alleged financial fraud concerning its bra … ( read original story …)
Agricultural Bank of China prints dual-currency deal
Agricultural Bank of China, rated A1/A/A, has printed a nearly US$1bn-equivalent dual-currency, three-tranche Reg S notes offering denominated in US dollars and Hong Kong dollars. Through its … ( read original story …)
China’s central bank to look at using CBDCs for cross-border payments
China’s central bank will join a project looking at using central bank digital currencies (CBDCs) for cross-border payments, the Bank of International Settlements said on Tuesday. CBDCs are like … ( read original story …)
China’s Crackdown on Defaulters Starts to Embolden Creditors
Chinese bondholders are gaining more power in the corporate restructuring process, underscoring a renewed push by authorities to reform the nation’s $5.2 trillion credit market.Following a slew of … ( read original story …)
China Finance Online (NASDAQ:JRJC) Shares Gap Down to $13.88
China Finance Online Co. Limited (NASDAQ:JRJC) gapped down before the market opened on Tuesday . The stock had previously closed at $13.88, but opened at $11.85. China Finance Online shares last … ( read original…
China military may face tough year ahead as Beijing tightens purse strings
An official budget figure for the PLA will not be announced at next month’s meetings but experts forecast small increase. ( read original story …)
Davis Polk expands in Beijing with equity capital markets partner hire from Freshfields
Davis Polk has hired capital markets specialist Jason Xu in Beijing from Freshfields Bruckhaus Deringer as it seeks to strengthen its deal-making capabilities in China. Xu joins the firm as a … ( read original…
U.S. Treasury No. 2 nominee Adeyemo urges get-tough attitude on China
“China is our top strategic competitor,” Adeyemo told a confirmation hearing before the Senate Finance Committee. “Where China is not willing to play on a level playing field, it’s important that we … ( read…
Joe Biden’s best weapon against China is teamwork
The new administration is toning down the rhetoric but is nevertheless taking a tough line on Beijing. Less capricious trade policies and a willingness to work with Western allies may make the … ( read…
Biden Nominee Open to Using Trump-Era Order to Punish China
President Joe Biden’s nominee to be Treasury Secretary Janet Yellen’s No. 2 indicated the U.S. is open to using a Trump-era investment ban to punish Beijing for violating international trade rules. ( read original story…
