Beijing Capital Land’s 8M 2020 contracted sales only accounted for half of the company’s RMB80 billion FY 2020 target, implying that it could be challenging to meet the full-year target. ( read original story …)
FINANCE
China sounds keen to tame financial giants
The central bank’s new rules to curb reckless sprawl and systemic risk are ready to roll. Designed to stop another Tomorrow-like debacle, they may force influential conglomerates such as CITIC and … ( read original…
ByteDance says China will have to approve its U.S. TikTok deal
ByteDance’s proposal for U.S. software firm Oracle to become a technology partner in its TikTok app still needs approval from Chinese and U.S. officials, the company said on Thursday. The proposal … ( read original…
Wall Street Firms Struggle to Keep Up in China Mutual Fund Boom
From BlackRock Inc. to Vanguard Group, global asset managers have been dazzled by the promised riches of China’s $3.4 trillion mutual fund industry. However, they’re now learning just how fierce the … ( read original…
China Mobile: Financial Strength Amid Stock Price Fluctuation
China Mobile is the world’s largest mobile services provider. Revenues and profitability have been impacted by COVID-19. ( read original story …)
The US will reportedly sell Taiwan $7 billion worth of mines, cruise missiles, and drones, amid concerns about China’s growing military presence
Taiwan will reportedly receive billions of dollars worth of weapons from the US government. Taipei is worried about China’s growing military presence. ( read original story …)
China: Protectionism by any other name
China’s new ‘dual circulation’ economic system aims to slash imports while keeping export growth high. Analysts say it is simple protectionism and will only lead to more trade conflicts. The first … ( read original…
China-backed telecom firm says won’t spy on Philippines
A new Philippine telecoms firm with Chinese state investment on Thursday described as “truly misplaced” concerns that communications equipment it will install at military camps will be used for spying … ( read original story…
China’s Biggest Bank Falls Short in Bid to Replenish Capital
A massive push by China’s biggest banks to boost capital amid the worst downturn in at least a decade faltered out of the gate.Industrial & Commercial Bank of China Ltd. slashed a planned bond sale…
The Export-Import Bank’s China Program Lacks Vision
Industrial policy that uses tariffs and subsidies to pick economic winners is once again in vogue among intellectuals. The rationale is to prevent China from “dominating” the global market with … ( read original story…
U.S.-China Investment Flows Slide to Nine Year-Low as Bilateral Tensions Escalate
Investment, both direct investment by companies and venture capital flows, between the two countries fell 16.2% to $10.9 billion in January-June from the same period a year earlier – also hurt by the … (…
Standard Chartered CEO says Hong Kong is ‘very, very safe’ as a banking center
“The fact is Hong Kong is sitting here as the gateway to China for capital into China and out of China. That’s only become more clear,” said StanChart’s CEO Bill Winters. ( read original story…
Beijing is publicizing its philosophy of how tech firms like TikTok must aid China’s rise
Sometimes it seems like Beijing is working at odds with its tech giants. Much of TikTok’s last year has been characterized by efforts to show it’s keeping a safe distance from the Chinese Communist ……
