JPMorgan (JPM) is taking advantage of China’s opening up of financial markets for foreign banks. This is likely to further support the bank’s revenues, going forward. ( read original story …)
FINANCE
US-China decoupling prompts Beijing to relax rules for foreign investors in onshore bond market
China is drafting new rules to make it easier for foreign institutional investors to buy onshore bonds, as Beijing steps up efforts to lure overseas investment. ( read original story …)
Beijing Pushes Its Big Banks to Weakest Health in a Decade
Warning signs are flashing for China’s $45 trillion banking industry, just when Beijing needs it the most to keep the world’s second-largest economy on its recovery path. ( read original story …)
China Investor Hunting for Next Moutai Wins Big on Cocktails
In his search for the next Kweichow Moutai Co., Zhu Liang discovered a cocktail maker that has helped his flagship fund post a 72% return this year. ( read original story …)
We need China more than they need us, says Andrew Liveris
The former Dow Chemical CEO, one of Australia’s most prominent global executives, says America’s push to ‘decouple’ the world’s biggest economies has added fuel to China’s rise. ( read original story …)
BlackRock Gets Nod to Set Up Mutual Fund Business in China (Revised)
The company has received approval from the China Securities Regulatory Commission to set up a mutual fund unit in the country. Thus, BlackRock has become the first global asset manager to get consent … (…
China Says It Will Keep Prudent Monetary Policy Appropriate and Flexible
China will guide more credit to the real economy, avoiding flood-like stimulus, the cabinet was quoted as saying. The cabinet approved rules on market access for financial holding companies, state … ( read original story…
US banking giant Citigroup granted custody licence in China as mainland fund sector further opens up
Chinese regulators have granted a domestic fund custody licence to Citigroup, making it the first American bank to receive one after mainland regulators tweaked the rules this year to further open up … ( read…
Citi becomes first US bank to win custody prize in China
Citigroup has become the first US bank to receive a fund custody licence in China, allowing it to provide a core service to global asset managers as they rush to participate in the opening up…
China Banks Have a Problem $96 Billion Can’t Fix
In preparation to deal with ballooning bad debts and future losses, provisions rose sharply by 656 billion yuan ($95.8 billion) for souring loans. Prudent as that may seem, the worst is yet to appear. (…
Donald Trump’s mega-fundraiser Elliot Broidy is on verge of being charged with plot to persuade U.S. government to handover billionaire Chinese dissident to Beijing – with …
Former top Republican fundraiser reportedly will be charged with pushing the government to end the probe of a Malaysian state investment fund and extradite a Chinese dissident. ( read original story …)
China’s Banks Aren’t Close to Hitting Bottom
This isn’t the bottom for Chinese banks’ bad loans. Be prepared for more and weaker balance sheets.China’s lenders reported large declines in net profit for the first time in decades Sunday, citing … ( read original…
China’s Stock Market is Rebounding More Broadly Than the U.S.
The record-setting rally in U.S. equities gets all the attention but China’s stock market boasts a broader rebound. ( read original story …)
