Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, says property loans are now the biggest risk facing China’s financial system. ( read original story …)
FINANCE
Beijing City In Talks To Rescue Property Firm Phoenix Tree – Sources
An investment arm of Beijing’s city government is holding talks with shareholders of Phoenix Tree Holdings Ltd, known as Danke, on raising new funds to help turn around the cashstrapped Chinese … ( read original…
Beijing, Eight Chinese Provinces Slash Revenue Expectations for 2020 Due to Covid-19
Beijing revised down its fiscal revenue growth goal from the ‘zero growth’ set in January to ‘minus 6 percent,’ according to Yicai Global researchers. The municipality had little choice seeing that … ( read original…
Is China ripe for a subprime crisis? Banking regulator sees property as ‘biggest grey rhino risk’ for financial system
Chinese banks’ excessive exposure to property is now the “biggest grey rhino risk” facing the stability of the financial system, a top financial regulator has warned. Guo Shuqing, chairman of the … ( read original…
UPDATE 1-China banking regulator says property market is biggest ‘grey rhino’
China’s property market is the biggest “grey rhino” – a very obvious yet ignored threat – in terms of financial risks, given it is so deeply intertwined with the financial industry, the head of the…
China banking regulator head likens property market to endangered grey rhino- state media
China’s property market is the biggest “grey rhino” in terms of financial risks, given how deeply intertwined it is with the financial industry, the head of the country’s banking and insurance … ( read original…
China c.bank head says country must prevent fiscal deficit monetisation – state media
BEIJING — China must prevent fiscal deficit monetisation and should build a “firewall” between fiscal and central bank funds, the governor of the People’s Bank of China was cited as saying … ( read original…
China Needs to Raise Green Finance Standards to Meet Targets
China needs to improve its green finance standards and require banks to reveal more carbon emission information for the country to meet its carbon neutral pledge by 2060, according to a top official … (…
Lam’s bank woes show risk of US dominance of global finance system
Global Times Published: 2020/11/29 22:26:44. US dominance of global finance system threatens nation’s security . The revelation that th … ( read original story …)
China’s SEC olive branch is sturdier than it looks
Beijing’s latest olive branch extended to the United States may be sturdier than it looks. The China Securities Regulatory Commission said on Friday that it is seeking fresh discussions on plans to … ( read…
China seizes £2.5billion of Bitcoin as Beijing set to ‘dominate’ future global economy
CHINA has seized $3.3 billion (£2.48 billion) in bitcoin as the nation continues to build its mining capacity and the recent move could allow Beijing to “dominate the global economy” of the future, … (…
China Investment Risk Rises with Ant Group Clash
A costly clash between China’s top political and business leaders has highlighted the risks for enterprises and finance in the world’s second-largest economy. The conflict between China’s government … ( read original story …)
China Should Further Open Up Finance Sector, PBOC Official Says
China’s finance sector should open up further to support the “dual circulation” economic strategy and mitigate risks in the industry, a central bank official said. ( read original story …)
ADVERTISEMENT
