China Banking and Insurance Regulatory Commission (CBIRC) said on Monday it had given its approval for Baoshang Bank to start bankruptcy proceedings, after the regulators took control of the lender in … ( read original…
FINANCE
China Online Education Grows After Further Investment
China Online Education has reported Q3 2020 financial results. The firm provides English language tutoring to K-12 students in China. ( read original story …)
Credit Stress Hurts New Money Going Into China’s Massive Infrastructure Project, Says Moody’s
The coronavirus pandemic has caused financial strains in many small economies participating in China’s Belt and Road Initiative, said Moody’s. ( read original story …)
China’s renminbi on course for record six-month run
China’s currency is set to record its best six months against the dollar on record as the country’s containment of coronavirus and economic recovery provide a competitive advantage investors expect … ( read original story…
China debt: Beijing may cut belt and road lending due to domestic pressure, to ensure future of project
President Xi Jinping reaffirmed China’s commitment to his Belt and Road Initiative last week, but questions remain if such investment can be sustained amid a backdrop of rising debt at home. ( read original story…
Ping An’s Goal to Pivot from Finance Group to Tech Giant Now Is Threatened
The headwinds that toppled Ant Group Co.’s initial public offering now threaten a $22 billion dream of China’s Ping An Insurance (Group) Co. — to pivot … ( read original story …)
Troubled Baoshang Bank Approved to Begin Bankruptcy Procedures
China’s banking regulator has given Baoshang Bank Co. the nod to start bankruptcy proceedings, launching an unraveling process that has not been seen for at least two decades. ( read original story …)
China Vows to Investigate Bond-Market Misconduct
A body that groups together China’s central bank and other top financial regulators and that is chaired by Vice Premier Liu He issued the warning after a series of defaults by state-backed groups … (…
China plans incentives to boost population growth and address ageing society, state media reports
China reportedly considering financial and policy support in 2021-25 five-year plan to encourage couples to have more children. ( read original story …)
Beijing-based development bank AIIB to target healthcare in Asia
The Beijing-based Asian Infrastructure Investment Bank is setting … But the AIIB would initially co-finance healthcare and education projects and consider standalone projects in the longer term as … ( read original story …)
China Is Set to Eclipse America as World’s Biggest Oil Refiner
Earlier this month, Royal Dutch Shell Plc pulled the plug on its Convent refinery in Louisiana. Unlike many oil refineries shut in recent years, Convent was far from obsolete: it’s fairly big by U.S. (…
Michael Pettis Chimes in China’s Growth and Debt
Morgan Stanley and the IMF are too high says Michael Petts at China Financial Markets. Longer term, Pettis forsees a surge in debt. ( read original story …)
China lobby tells UK: Embrace Beijing or ‘suffer’ business backlash
The UK will lose billions of pounds in private sector investment if it does not reverse its growing hostility toward China, according to a pro-Beijing business lobby. The China Chamber of Commerce in … (…
