A pandemic, an economic downturn and an untested military have forced Beijing to temper calls for war. The move highlights the dangers of harnessing nationalism to bolster party control. ( read original story …)
FINANCE
Cathay, Swire Pacific, Air China Suspend Trading in Hong Kong
Embattled Hong Kong carrier Cathay Pacific Airways Ltd. and its two main shareholders Swire Pacific Ltd. and Air China Ltd. suspended trading of their shares on Tuesday, pending an announcement. ( read original story …)
Alibaba says cloud unit to recruit 5,000 staff globally this financial year
Alibaba Group said its cloud unit aims to recruit 5,000 staff globally from now until the end of this financial year, in areas including network, database, servers, chips and artificial intelligence, … ( read original…
What HSBC and Cathay Pacific’s bow to Beijing on Hong Kong national security law tells investors about management in political crises
China tensions escalate, companies are struggling to remain apolitical on the controversial national security law. Investors look to its implementation and potential ESG pitfalls. ( read original story …)
Ericsson flags losses from China 5G contracts, takes 1 billion SEK charge
Ericsson expects to take a second-quarter writedown of about 1 billion crowns ($109 million) on product inventory in China, the Swedish telecoms gear maker said on Monday. The company, which has won … ( read…
Why the Trump Administration Has Helped China
The Trump administration mishandling of the coronavirus pandemic and the death of George Floyd has raised the stature of China, which is now perceived as the more competent country in the world. ( read original…
China’s finance ministry asks local governments not to ignore debt risks
China’s local governments cannot ignore debt risks and take on more debt illegally because of the fiscal difficulties caused by the coronavirus pandemic, a meeting chaired by finance minister Liu Kun … ( read original…
China Could Force Donald Trump And The Fed To Destroy The U.S. Banking System
The Federal Reserve has warned central bank digital currencies might one day replace commercial banks, creating “a deposit monopolist” and playing “havoc” with the … ( read original story …)
Beijing city authorities rejects calls for allow roadside stalls to return, saying they are ‘unsuitable’ for Chinese capital
Premier Li Keqiang had touted the ‘vendor economy’ as a way of helping the post-coronavirus recovery, but municipal authorities say this does not fit their plans. ( read original story …)
China Markets Show Anxiety Over Looming $380 Billion Funding Gap
A looming liquidity shortage is challenging China’s efforts to keep borrowing costs low amid the economic fallout from the global pandemic. ( read original story …)
China c.bank drains net $63 bln yuan on week, biggest since mid-Feb
China’s central bank injected 150 billion yuan ($21.10 billion) into the banking system on Friday through seven-day reverse repurchase agreements, while keeping the interest rate unchanged at 2.20%. ( read original story …)
360 Finance’s Affiliate Acquires 30% Stake in Kincheng Bank of Tianjin
Finance, Inc. (NASDAQ: QFIN) (“360 Finance” or the “Company”), a leading digital consumer finance platform, today announced that 360 Group, one of its affiliates, acquired a 30% stake in Kincheng Bank … ( read original…
China Central Bank Drains Net $63 Billion Yuan on Week, Biggest Since Mid-Feb
The People’s Bank of China (PBOC) said in a statement Friday’s fund injection was to counteract the impact from factors including maturing reverse repos and financial institutions’ reserve requirement … ( read original story …)
ADVERTISEMENT
