China plans to push tech giants including Ant Group, Tencent and JD.com to share consumer loan data With less than two weeks of the new year elapsed, it seems clear that Big Tech and its…
FINANCE
EXCLUSIVE-China to push its tech giants to share consumer credit data-sources
China plans to push tech giants including Ant Group, Tencent 0700.HK and JD.com 9618.HK to share consumer loan data to prevent excess borrowing and fraud, two people with knowledge of the matter said, … (…
China Plans to Let Banks Sell Soured Personal Loans to Ease Risks
China plans to allow some commercial banks to start selling soured personal loans to distressed asset managers as soon as this month, according to people familiar with the matter. ( read original story …)
China Stocks Slump Most in Three Weeks on Valuation Concerns
Chinese stocks fell the most in three weeks, led by consumer shares and commodity producers, amid concern valuations for the most popular stocks were stretched and as metal prices slumped. ( read original story …)
The week in review: December CPI inflation turns positive, Beijing hits back at foreign sanctions, CBIRC fines seven FIs
In this round-up, consumer inflation in China turns positive in December, Beijing announces rules to protect Chinese companies from sanctions of foreign governments, and the banking and insurance … ( read original story …)
China stocks end lower on Sino-U.S. tensions, fresh virus cases
U.S. tensions continued to weigh on the market, while a jump in new domestic COVID-19 cases also dampened sentiment. ( read original story …)
China’s banking regulator hands out year’s first penalties
China’s top banking and insurance regulator has slapped fines totaling almost 200 million yuan (about 30.9 million U.S. dollars) on institutions and individuals in its first crackdown on financial … ( read original story …)
Breakingviews – Becoming a bank would shrink but not squash Ant
Becoming a bank will shrink Ant. Regulators are set to treat Jack Ma’s financial group more like a regular Chinese lender. Though it has enough capital to support its existing online credit business, … (…
China Pushes Back Against U.S. Sanctions With New Rules
China continued its pushback against U.S. sanctions, issuing new rules to protect its firms from “unjustified” foreign laws and allowing Chinese courts to punish global companies for complying with … ( read original story …)
China’s financial paradox: rescue or reform?
China’s financial system is a paradox. Reform demands that the authorities relax their grip on banks and capital flows. But if they do, it could trigger the debt crisis the country has so far avoided.…
China and the chaos theory of finance
Will China have a financial crisis? And if so, would Chinese people be any worse off? The answers are not found in the country’s rapidly rising levels of debt, but in the potential for chaos…
China central bank will prioritise monetary policy stability in 2021
China will prioritise stability in monetary policy in 2021, and any steps to exit stimulus measures will have a small impact on the economy, the Xinhua news agency on Friday quoted central bank … (…
China central bank will prioritise monetary policy stability in 2021 – Xinhua
China will prioritise stability in monetary policy in 2021, and any steps to exit stimulus measures will have a small impact on the economy, the Xinhua news agency on Friday quoted central bank … (…
