At least a dozen Communist Party members and officials from the National People’s Congress could face sanctions this week. ( read original story …)
FINANCE
China Has a National Economic Growth Goal. Why Can’t America?
I like the idea of a nation’s leader not only setting a growth target, but making a big deal of it. Chinese President Xi Jinping recently set a goal of doubling the size of China’s…
Global CFOs upgrade China’s economic outlook in Q4 rating: survey
Global chief financial officers (CFOs) have upgraded China’s economic outlook to “Modestly Improving” in the last quarter of the year from “Stable” in the third quarter, showed a recent survey by the … ( read…
Regulatory agency in China clears deal for Genworth Financial to be acquired by China-based investment company
The Henrico County-based insurance company Genworth Financial Inc. said Monday that its long-delayed acquisition by a China-based investment company cleared an important hurdle from a regulatory … ( read original story …)
Former Hong Kong lawmaker Ted Hui says his bank accounts frozen
Former Hong Kong lawmaker Ted Hui said on Sunday his local bank accounts appeared to have been frozen after fled to Britain with his family to continue his pro-democracy activities. Hui told Reuters … (…
‘I was a very bad lawyer’ but ‘banking suited me’, says SparkRaise founder Yeone Fok
Having attended Wellesley, Cambridge, Oxford and Harvard, the founder of ethical crowdfunding platform SparkRaise says, ‘I basically kept studying because I didn’t want to work’. ( read original story …)
Jack Ma’s Ant Group Ramped Up Loans, Exposing Achilles’ Heel of China’s Banking System
Partnering with the fintech giant has higher risks for smaller lenders, which are already on shaky ground. ( read original story …)
China reveals new generation of top-level government appointees, including an ex-copy machine salesman and fighter jet designer
A rural policy expert, a former copy machine salesman and a fighter jet designer are among China’s new generation of officials who have been appointed to key government posts. ( read original story …)
Burner phones and banking apps: Meet the Chinese ‘brokers’ laundering Mexican drug money
Chinese money brokers based in Mexico “have come to dominate international money laundering markets,” U.S. prosecutors have said. ( read original story …)
Global finance falls victim to China’s spyware campaign
If the allegations are true, local units of foreign companies operating in China as well as global financial institutions will be exposed to the risk. But, while some countries are taking urgent steps … (…
Bank of China fined over crude oil futures product
China’s banking regulator said Saturday it has made administrative punishment decisions and taken regulatory measures following an investigation into a risk incident related to a crude oil futures … ( read original story …)
Former opposition lawmaker Ted Hui lands in London to begin self-exile, only to find Hong Kong bank accounts frozen
Former opposition lawmaker Ted Hui Chi-fung arrived in Britain at the start of the weekend to start his self-imposed exile, only to find that his Hong Kong bank accounts appeared to have been frozen. (…
China Regulator Fines Bank of China for Risk-Management Flaws
China’s financial regulator fined Bank of China Ltd. 50.5 million yuan ($7.7 million) for risk-management transgressions after the price of one of the lender’s crude oil futures products collapsed, … ( read original story …)
