China is set to expand the testing of its new sovereign digital currency later this year or in early 2021, but analysts say the design of its technological platform needs to be made compatible with…
FINANCE
China-Backed Development Bank AIIB Appoints Veteran European as First Chief Economist
The AIIB began operations in 2016 and has so far spent $20 billion worth on projects. It has 103 governments as shareholders though unlike most of the world’s other big developmen … ( read original…
China’s Central Bank Endorses New Reference Rates for Financial Markets
China’s central bank said Monday that it would make interbank repo rates by depository institutions a key reference for setting prices in the nation’s financial market, in its latest move toward … ( read original…
Envirotainer Opens New Station in Beijing, China
Envirotainer, the global market leader in secure cold chain solutions for air transport of pharmaceuticals, today announced that they are expanding their network of stations by adding Beijing (PEK), … ( read original story …)
China Minsheng Bank’s revenue up 11.16% in H1
BEIJING – (CMBC) saw its operating revenue rise 11.16 percent year-on-year in the first half (H1) of 2020, company data showed. The bank’s total operating revenue stood at 98.11 billion yuan ($14.3 … ( read…
China must reform financial markets to ward off US financial sanctions, think tank urges
China should make its own financial markets big enough and open enough to foil any attempt by the United States to decouple financially, according to a semi-official Chinese research group.The tactics … ( read original…
Genworth gets ‘satisfactory information’ that China-based company could finance $2.7 billion acquisition
Genworth Financial Inc. said late Monday that it will proceed with its long-delayed acquisition by China Oceanwide Holdings Group Co. Ltd. after the China-based company showed that it could raise … ( read original story…
China must reform financial markets to ward off any US financial sanctions, think tank urges
Chinese think tank featuring senior regulatory officials and financial experts calls for deeper financial reform and ‘contingency plans against extreme conditions’. ( read original story …)
Genworth Financial Inc. shares spiked Monday on speculation about China Oceanwide deal
Genworth Financial Inc.’s stock rose more than 25% on Monday as investors showed more confidence that financing will be secured for the company’s long-delayed acquisition by a China-based investment … ( read original story …)
China may have thrown a wrench into the looming TikTok sale — here’s what it could mean for TikTok as it tries to avoid a Trump ban
The restrictions could delay a TikTok sale to a US company, running down the clock in advance of Trump’s potential ban. ( read original story …)
China Central Bank Says It Will Improve Benchmark Interest Rate System
Improving China’s benchmark interest rate system would help build up financial markets, deepen market-based interest rate reforms and improve monetary policy management, the People’s Bank of China … ( read original story …)
China’s bank sector cleanup puts local governments in firing line
As China’s regulators flesh out details of a long-awaited master plan to clean up the country’s banking sector, it’s becoming increasingly evident that much of the burden is going to fall on the … (…
China central bank to improve benchmark interest rate system
China’s central bank said on Monday it will make interbank repo rates by depository institutions (DR) a key reference for monetary policy adjustment and financial market price-setting. ( read original story …)
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