The Industrial Bank issued 30 billion yuan (about 4.23 billion U.S. dollars) in special financial bonds for small business loans on Wednesday, aiming to help these firms resume work and production. ( read original story…
FINANCE
Jack Ma’s online bank plans $400 billion lending spree
With China’s economy in free fall and millions of small businesses running low on cash, the online lending platform backed by billionaire Jack Ma entered crisis mode.. Read more at straitstimes.com. ( read original story…
China’s Financial Markets Look Set for Another Post-Holiday Drop
China’s financial markets have some catching up to do after an extended holiday, and most of it is bad news. Mainland investors will have their first chance to react to the cautious shift in sentiment…
China Stocks Drop as Markets Reopen to Escalating U.S. Tensions
Chinese stocks fell as the country’s financial markets caught up with the cautious shift in sentiment globally after an extended holiday.The CSI 300 Index of stocks slipped 1.2% in pre-market trading … ( read original…
Former trade official: Rising US-China tensions ‘start of a new cold war’
Clete Willems, Former NEC deputy director, says China and the U.S. are engaged in the start of a new cold war. With CNBC’s Melissa Lee and the Fast Money traders, Guy Adami, Tim Seymour, Steve…
Bank of China may compensate up to 20% of investments in oil products, sources say
Bank of China (BoC) is considering compensating up to 20% of all investors’ original investments in crude oil-linked products, and shouldering all losses recorded in negative territory, two sources … ( read original story …)
China Mengniu Dairy: Opportunities And Challenges Coexist
China Mengniu’s 1Q2020 financial performance is likely to have taken a hit from the coronavirus pandemic, which is expected to change the behavior of both compe … ( read original story …)
Bank of China Tells Investors It Will Absorb Some Oil Losses
Bank of China Ltd. told clients it’s willing to shoulder part of the $1 billion loss suffered by thousands of retail investors after a product linked to the price of oil collapsed last month. (…
China’s Big Banks Are Weathering the Coronavirus Crisis—and May Even Keep Their Dividends
China’s strong backing of its largest lenders obscures an understanding of how they might perform under stricter market conditions, analysts say. In addition, the banks may cut their dividends but … ( read original story…
Coronavirus: China gets defensive during high-level EU event on fundraising and vaccine development
The European Union’s effort to raise new funds for developing and distributing Covid-19 vaccines has met with a cold shoulder from China, despite the bloc’s success in almost reaching its US$8 billion … ( read…
GOP Senator Abruptly Goes from China Cheerleader to Anti-Beijing Hawk
The shift comes right as the Republican Party is encouraging candidates to turn the COVID conversation away from Trump and on to China. ( read original story …)
China Construction Bank bolsters safeguards to contain investor losses in commodities
China Construction Bank (CCB) announced new trading procedures for its commodities investment products on Monday, after regulators ordered banks to bolster their risk management protocols following … ( read original story …)
Africa has a question for Beijing: will you forgive us our debt?
Chinese state banks have poured billions into the continent as part of the belt and road scheme, but it is unclear how Beijing will respond to calls for debt relief amid the Covid-19 downturn. (…
