China banking and insurance sectors will ramp up support for the real economy and unveil measures to prevent financial risks in 202 … ( read original story …)
FINANCE
Hong Kong grills finance executives on reasons for leaving
Fund managers and bankers leaving Hong Kong for alternative financial centres have been asked to explain their decision to a range of government agencies amid … ( read original story …)
UPDATE 1-China to step up supervision of financial activities on internet platforms
China’s banking and insurance regulator on Wednesday said it would strengthen supervision over financial activities by banks and insurers with internet platforms, the latest attempt to rein in China’s … ( read original story …)
Jack Ma’s Ant Group reportedly plans to transform into a financial holding company overseen by China’s central bank
Jack Ma’s Ant Group becoming a financial holding company would give Chinese regulators oversight of all its activities, sources told the WSJ. ( read original story …)
Jack Ma’s Ant Group responds to regulatory pressure from China with major reorganization
Financial group led by Alibaba CEO is set to turn itself into a financial holding company overseen by China’s central bank. ( read original story …)
The Asian Infrastructure Investment Bank’s new mission
AIIB has been around five years but is aiming to expand its business after pivoting to address COVID-19. Here’s how the president defines its mission and the goals set to get there. ( read original…
Hong Kong asks departing finance executives to explain themselves
Fund managers and bankers leaving Hong Kong for alternative financial centres have been asked to explain their decision to a range of government agencies amid concerns that Beijing’s national security … ( read original story…
China central bank will back growth, watch debt risks, governor says
China’s monetary policy will continue to support economic growth and the central bank will watch debt and non-performing loan risks, central bank Governor Yi Gang said on Tuesday. ( read original story …)
China’s central bank conducts 180 billion yuan of reverse repos
China central bank on Wednesday conducted 180 billion yuan about 278 billion US dollars of reverse repos to maintain reasonabl … ( read original story …)
China money rates hit 21-month high on holiday demand, policy tightening worries
China’s short-term money rates extended rallies to over 21-month highs on Wednesday as investors worried that policymakers may be starting to shift to a tighter stance to cool gains in share prices … ( read…
China’s central bank chief struggles to answer question on Ant Financial IPO
Yi Gang, the veteran central bank chief of the People’s Bank of China, is no stranger to challenging questions. But when asked by the editor of the … ( read original story …)
China’s GDP growth targets should be scrapped to help put cap on local government debt, top central bank adviser says
Local governments in China are under pressure to meet unrealistic economic growth goals, and small banks are seeing their asset quality declining as the default risk of their borrowers grows. ( read original story …)
China state-owned firms’ Dec profits rise 13.8% y/y – finance ministry
The profits of China’s state-owned firms rose 13.8% year on year in December, according to a notice from the Ministry of Finance. ( read original story …)
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