The technological decoupling between the U.S. and China has been a boon to Chinese firms from chipmakers for smartphones and electric vehicles through to software that are the backbones of millions of … ( read…
FINANCE
X Financial Reports Second Quarter 2020 Unaudited Financial Results
PRNewswire/ — X Financial (NYSE: XYF) (the “Company” or “we”), a leading technology-driven personal finance company in China, today announced its unaudited financial results for the second quarter … ( read original story …)
China cenbank resumes 14-day reverse repos after near 2-month hiatus
China’s central bank will resume 14-day reverse repo operations for the first time in nearly two month on Friday, while injecting a total of 200 billion yuan ($28.93 billion) into the banking system … (…
X Financial Appoints New Chief Financial Officer
SHENZHEN, China, Aug. 20, 2020 /PRNewswire/ — X Financial (NYSE: XYF) (the “Company”), a leading technology-driven personal finance company in China, today announced that it has appointed Mr … ( read original story …)
China’s Covid Recovery Is Taking on Water
Much of the enthusiasm for China rides on expectation alone. Hopes that Beijing will spend, ease and build its way out out of the slowdown are pushing up proxies of economic activity. Two trillion ……
Investors bet on Beijing’s localisation push as US-China tech war widens
US has strengthened restrictions on China’s Huawei Technologies and sanctioned China-owned apps TikTok and WeChat. ( read original story …)
Economic Watch: China’s banking industry seeks to shield real economy from epidemic shock
Net profits of China’s commercial banks tumbled in the first half of 2020, an uncommon decline analysts say echoed the country’s efforts to wield financial instruments to sustain the real economy amid … ( read…
China’s Outstanding Loans to Small Businesses up 27.5% Year-On-Year by End-July
Interest rates on those loans averaged 5.27% in July, 0.91 percentage points lower than a year ago, the People’s Bank of China said in … personal finance, careers, investing, real estate and … ( read…
China’s July new stock accounts more than double to 2.43 million as traders continue their headlong dive into market to sustain rally
The Chinese population is continuing its headlong plunge into the stock market, a second monthly surge that sustains the momentum behind one of the world’s best-performing major benchmarks this … ( read original story …)
UPDATE 1-China’s top court slashes maximum legal private lending rate
China’s Supreme People’s Court on Thursday slashed the upper limit on private loan interest rates that will be protected by law, in a move to crack down on usurious loans and lower the borrowing costs…
How Hong Kong’s finance sector is becoming more Chinese
This year, Beijing backed CICC and state run China Merchants Bank are … Hong Kong is starting to look less like a global financial nexus and more like an offshore centre for Chinese finance. (…
Beijing Capital Polaris Investment Co., Ltd. — Moody’s affirms Beijing Capital Group’s Baa3 ratings; outlook stable
Moody’s Investors Service has affirmed Beijing Capital Group Co., Ltd.’s (BCG) Baa3 issuer rating, as well as the Baa3 senior unsecured ratings on the USD notes issued by Beijing Capital Polaris … ( read original…
China to power world economy for several years as coronavirus recovery in developed countries lags, miner BHP says
China will be the lone major economy to grow this year, while developed economies will commence a slow recovery in 2021 without any likelihood of returning to pre-pandemic conditions before 2023, … ( read original…
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