HSBC Holdings Plc slumped below its financial crisis low set more than a decade ago as pressures mount on several fronts, including a potential threat to its China expansion plans and increased … ( read…
FINANCE
China needs first mover advantage in digital currency race – PBOC magazine
China needs to become the first nation to issue a digital currency in its push to internationalise the yuan and reduce its dependence on the global dollar payment system, a commentary published by the ……
China rolls out fresh policies to boost hydrogen vehicle sales
China, the world’s biggest automobile market, rolled out fresh policies to support hydrogen fuel cell vehicles to improve the industry’s supply chain and technologies, the finance ministry said on … ( read original story …)
China’s ByteDance says TikTok will be its subsidiary under deal with Trump
China’s ByteDance said on Monday that TikTok’s global business will become its subsidiary, even as Oracle Corp and Walmart Inc said over the weekend that they and U.S. investors would own the majority … (…
China Keeps Lending Benchmark LPR Steady for Fifth Straight Month
China kept its benchmark lending rate for corporate and household loans steady for the fifth straight month at its September fixing on Monday, as expected. The one-year loan prime rate (LPR) was kept … (…
As Trump Squeezes China, Alipay’s Star Rises
Chinese consumers tap the fintech app to pay bills, order in restaurants, and book appointments. Now it’s preparing for an IPO that could value it at $200 billion. ( read original story …)
China’s Guolian Securities to acquire Sinolink Securities
The announcement comes as privately run financial conglomerates such as Changsha Yongjin Group, which controls Sinolink, are under pressure to restructure, with Beijing tightening supervision of … ( read original story …)
China Zheshang Bank increases lending to private firms
China Zheshang Bank, one of the country’s major joint-stock commercial banks, saw its outstanding loans to private enterprises grow rapidly in the first half of the year. At the end of June, the … (…
China Development Bank boosts support for poverty relief
As of the end of August, the CDB had issued 1.5 trillion yuan (about 221.89 billion U.S. dollars) in loans to support poverty relief during the past five years, the lender said. Of the total,…
China wants 50 PLA soldiers to stay back at Pangong Tso bank. India says no: 10 Points
Baltistan by Pakistan and the aggression by the People’s Liberation Army in Ladakh are part of Beijing’s grand plan to secure and expand the China-Pakistan Economic Corridor (CPEC) … ( read original story …)
China’s economy remains resilient despite external risks, says Xi
China’s economy remains resilient and there are ample policy tools at Beijing’s disposal despite rising external risks, President Xi Jinping said in remarks published on Saturday. The world’s … ( read original story …)
Int’l financial institutions upbeat on China’s economic growth
Several foreign financial institutions have raised their forecasts of China’s economic growth for the rest of the year as the country’s key economic indicators point to strong recovery amid COVID-19 … ( read original story…
China to improve cross-border yuan policy to stabilise foreign investment and foreign trade -c.bank
BEIJING, Sept 18 (Reuters) – China will improve cross-border yuan policy to stabilise foreign investment and foreign trade, the central bank said on Friday. China will relax restrictions on use of … ( read original…
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