Photo taken on Jan. 13, 2021 shows the headquarters building of the Asian Infrastructure Investment Bank (AIIB) in Beijing, capital of China. (Xinhua/Li Xin) President Xi Jinping has firmly supported … ( read original story…
FINANCE
China’s economy set to receive ‘necessary support’ for coronavirus recovery this year, central bank says
The People’s Bank of China says there will be no U-turn on its policy stance this year as the world’s second largest economy continues to recover from the coronavirus pandemic. ( read original story …)
China central bank vows consistent policies to keep housing prices stable
China’s central bank will keep its regulation on the real estate sector consistent to promote the sector’s healthy and stable development, an official said Friday. The central bank will stick to the … ( read…
Will Biden’s US$1.9 trillion ‘American Rescue Plan’ be a boon for China, or could excessive liquidity lead to financial trouble?
If approved, the latest US coronavirus stimulus package would pump even more liquidity into the global economy, and much of that could rapidly flow into China, where investment returns are higher. ( read original story…
80% of Beijing’s public spending goes to improving people’s lives
Over 80% of Beijing’s public spending went to projects in education, healthcare, and employment to improve people’s lives during the 13th Five-Year Plan period (2016-2020), according to the Beijing … ( read original story …)
China urged to tap RCEP trade deal for future digital payments system as US sanctions loom
Prominent economist Liu Xiaochun says China should consider establishing a digital settlement and remittance mechanism as an alternative to the US dollar-dominated SWIFT system. ( read original story …)
Ant Group Is Moving Quickly to Comply With Regulations, China’s Central Bank Says
Ant is working expediently to rectify its business practices and comply with regulatory requirements, a top Chinese central bank official. ( read original story …)
Ant Group kicks off the overhaul of its fintech operations under the watchful eyes of China’s central bank and financial regulators
The update on Ant Group’s ongoing reorganisation offers the first glimpse of the Chinese government’s stance on a company that powers more than half of all electronic payments in the country, since … ( read…
Analysis: Investors resigned to Trump’s China ban, with Biden seen changing little
Financial executives are settling in for the long haul over the Trump administration’s investment ban on Chinese securities, expecting the rules to be lasting but hoping to have more clarity after … ( read original…
A Year On, China Falls Short on Trade-Deal Targets
China’s purchases of U.S. goods are behind schedule, although some see progress in its opening of markets to U.S. companies. ( read original story …)
Ant is working on timetable for overhaul: Chinese central bank
China’s central bank said Ant Group Co. is working on a timetable to overhaul its business while ensuring operations continue, offering little clue on how far the financial technology giant needs to … ( read…
HBL’s Beijing branch to start operations in February
Beijing branch is expected to commence its operation and offer a full range of products and services in February this year, an official of the branch said on Thursday. Its head office will allocate to…
China bans banks from selling deposit products on third-party internet platforms
China’s banking and insurance regulator on Friday banned commercial banks from using third-party internet platforms to sell deposit products, including those relating to fixed-term deposits. The move … ( read original story …)
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