Beijing doesn’t oppose monopolies on principle, but even tech giants like Alibaba and Tencent must put party over profit. ( read original story …)
FINANCE
FT China index: Tracking recovery from the pandemic
China’s economy was the first to experience severe disruption due to the coronavirus outbreak, and has since been the first to begin to recover … ( read original story …)
UPDATE 1-China central bank research paper suggests requiring big tech to report credit data
A paper published by China’s central bank on Friday suggested authorities should require internet platforms to fully report credit data to the country’s databases in a move to break up their … ( read original…
China c.bank research paper suggests regulators require big techs to report credit data
A policy research paper published by China’s central bank on Friday suggested authorities should require internet platforms to fully report credit data to the country’s databases in a move to break up … ( read…
Foreign banks in China forced to reduce lending using overseas funds – sources
Some foreign banks in China are forced by the latest Chinese regulations to significantly reduce the amount of lucrative foreign currency-denominated loans that they grant to domestic clients, foreign … ( read original story …)
NetEase to Report Fourth Quarter and Fiscal Year 2020 Financial Results on February 25
(NASDAQ: NTES and HKEX: 9999, “NetEase” or the “Company”), one of China’s leading internet and online game services providers, today announced that it will report financial results for the fourth … ( read original story…
China’s central bank conducts 100 bln yuan of reverse repos Friday
China central bank on Friday conducted 100 billion yuan about 1545 billion US dollars of reverse repos to maintain liquidity ah … ( read original story …)
Fake accounts gain traction as they praise China, mock US
A pro-China network of fake and imposter accounts found a global audience on YouTube, Facebook and Twitter to mock the U.S. response to the COVID-19 pandemic as well as the deadly riot in Washington ……
China’s SWIFT joint venture shows Beijing eyeing global digital currency use, to internationalise yuan
Finance Gateway Information Service was registered in Beijing last month, with SWIFT the largest shareholder followed by a wholly-owned domestic settlement subsidiary of the People’s Bank of China … ( read original story …)
Bank of China raises US$500 million in first offering of Yulan bonds, as Beijing seeks to tap funding in Europe
Bank of China has become the first company to sell Yulan bonds, a new debt product that links Chinese companies with global investors, as the Asian country seeks to widen its funding access amid ……
UPDATE 1-Hong Kong banking regulator says business as usual, no fund outflows
Hong Kong is not seeing fund outflows following Beijing’s imposition of a national security law in the Asian financial hub, a top executive at the city’s banking regulator said on Thursday. ( read original story…
China fury: Biden threatens ‘fresh arms race’ amid Beijing’s ‘new source of US tensions’
CHINA’s “new source of tension” with the US has been identified by a group of political risk analysts, in what the experts warned could “quickly become a new arms race”. ( read original story …)
China debt: Guizhou among indebted western areas facing ‘greatest’ repayment pressure amid default fears
Confidence in the ability of local governments in China to repay debts was been hit by a series of unexpected defaults by state firms controlled or owned by major provinces late last year. ( read…
