A pilot scheme could involve at least two of China’s largest banks getting the green light from the China Securities Regulatory Commission (CSRC) to conduct investment banking business on the mainland … ( read original…
FINANCE
China’s central bank injects 100 bln yuan into market
China’s central bank on Sunday pumped cash into the banking system via reverse repos to maintain liquidity. The People’s Bank of China injected 100 billion yuan (about 14.17 billion U.S. dollars) into … ( read…
China industrial firms’ May profits post first monthly rise in six months
Profits at China’s industrial firms rose for the first time in sixth months in May, suggesting the country’s economic recovery is gaining traction and brightening the outlook for manufacturing … ( read original story …)
It’s Hard to Be the Next China, Not Impossible
Is the global monetary order ready for another reboot? In the 1960s, Japan and Europe exported their way to post-World War II prosperity under the fixed exchange rates of the Bretton Woods agreement. ( read original story …)
China industrial firms’ May profits rise 6% y/y
Profits at China’s industrial firms in May rose 6% year-on-year to 582.3 billion yuan ($82.28 billion), the statistics bureau said on Sunday. For the first five months of 2020, industrial firms’ … ( read original…
Why China will emerge from COVID-19 stronger than the U.S.
As COVID-19 cases hit new highs in the U.S., it’s clear this scourge isn’t going away anytime soon. Besides all the short and medium term issues, another point to consider is the disease’s impact on…
National security law: could Japan or South Korea take Hong Kong’s finance crown?
Beijing, however, maintains the new law will restore stability to a city wracked by a year of anti-government protests that on several occasions descended into violence. Foreign firms have been … ( read original story…
It’s not just coronavirus: Why US-China relations are worsening on ‘almost every front’
Trump is holding on to this Phase One trade deal and it’s because he knows what it’s going to do to the markets if it blows up,” Ian Bremmer, founder & president of the Eurasia…
US Could Finance Non-Huawei Equipment
The United States is willing to help other countries finance purchases of next-generation telecom technology from Western providers so they can avoid Chinese tech giant Huawei, which Washington sees … ( read original story …)
Chinese bank requires foreign firm to install app with covert backdoor
Researchers from Trustwave, the security firm that made the discovery, have dubbed the backdoor GoldenSpy. With system-level privileges to a Windows computer, it connected to a control server located … ( read original story …)
Viewpoint: Taking the pulse of U.S.-China relations
During the global financial crisis of 2008-09 U.S. and Chinese leaders consulted closely on measures to revive the global economy. Not so today. But there’s also a counter-narrative. Most U.S. ( read original story …)
Global stocks follow Wall Street higher on bank news
Global stock markets followed Wall Street higher Friday after U.S. regulators removed some limits on banks’ ability to make investments. London and Frankfurt opened higher, while Tokyo, Seoul and … ( read original story …)
Asian stocks follow Wall Street higher on bank news
Asian stock markets have followed Wall Street higher after U.S. regulators removed some limits on the ability of banks to make investments … ( read original story …)
