China will step up financial support for its supply chains, according to guidelines issued by the central bank and other state agencies on Tuesday. ( read original story …)
FINANCE
Choppy few months ahead for China markets, but next year will be ‘pretty good’: UBS
UBS Head of China Strategy Wendy Liu says that political risks from … Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market ……
China Eyes ‘New Battlefield’ In Looming Showdown Over U.S. Dollar Dominance
The race for control of the digitization of international finance is just beginning but it’s a race China seems determined to win. China is poised to roll out its closely-watched and long-awaited … ( read…
Beijing unlikely to approve Oracle, Walmart’s TikTok deal: Global Times
SHANGHAI (Reuters) – Beijing is unlikely to approve an “unfair” deal Oracle Corp and Walmart Inc said they have struck with ByteDance over the future of video-streaming app TikTok, state-backed … ( read original story…
Nonghyup Bank files for approval of Beijing branch
Major South Korean lender Nonghyup Bank has applied for China’s approval to open a branch in Beijing as part of its Asian push, industry sources said Tuesday. Nonghyup Bank, which lodged the … ( read…
China Fines Luckin Coffee, Associated Firms Combined $9 Million
China’s finance ministry said earlier this year that Luckin booked 2.25 billion of sales through fake coupons from April 2019 to end of 2019. The ministry’s investigation also found that Luckin … ( read original…
Credit Suisse, UBS Fight for China Bankers in Growing Talent War
(Bloomberg) — A battle for financial talent is intensifying in China, one of the few places worldwide where global banks are firmly in hiring mode. Credit Suisse Group AG this month hired a dozen ……
China Eyes Quick and Loose Carbon Market Start as Deadline Looms
(Bloomberg) — In a rush to start the world’s biggest carbon market, China is looking to have a more lax approach to emissions rather than cut greenhouse gases in the short-term. Under pressure … (…
China’s property developers seek to dodge new rules with shift of debt off balance sheets
China is tackling unbridled borrowing in the real estate development sector anew with caps for debt ratios. Dubbed “the three red lines”, Chinese regulators outlined caps for debt-to-cash, debt-to-ass … ( read original story …)
HSBC, Deutsche Bank Lead Bank Stock Sell-Off Following Money Laundering Allegations, Potential China Blacklist
HSBC Holdings plc (NYSE: HSBC) shares dropped more than 6% on Monday following reports the bank was involved in large-scale money laundering over a period of nearly two decades.Investors in HSBC and t … (…
HSBC sinks to lowest level since April 2009 on concerns about Beijing punishment, investigative report
Fuelling the sell-off was a weekend report by the Global Times, a tabloid owned by the Chinese Communist Party, that HSBC may be sanctioned by Beijing for assisting the US in the investigations into ……
Beijing propaganda is in favor of TikTok-Oracle deal so we should be wary: Expert
‘The Coming Collapse of China’ author Gordon Chang argues the U.S. should be concerned about China’s continued involvement in TikTok. ( read original story …)
Banking shares plummet on laundering allegations
Shares in major banks such as HSBC, Deutsche Bank and ING were hammered Monday following allegations they had handled huge sums of dirty money for almost 20 years. ( read original story …)
