China’s Supreme People’s Court on Thursday slashed the upper limit on private loan interest rates that will be protected by law, in a move to crack down on usurious loans and lower the borrowing costs…
FINANCE
How Hong Kong’s finance sector is becoming more Chinese
This year, Beijing backed CICC and state run China Merchants Bank are … Hong Kong is starting to look less like a global financial nexus and more like an offshore centre for Chinese finance. (…
Beijing Capital Polaris Investment Co., Ltd. — Moody’s affirms Beijing Capital Group’s Baa3 ratings; outlook stable
Moody’s Investors Service has affirmed Beijing Capital Group Co., Ltd.’s (BCG) Baa3 issuer rating, as well as the Baa3 senior unsecured ratings on the USD notes issued by Beijing Capital Polaris … ( read original…
China to power world economy for several years as coronavirus recovery in developed countries lags, miner BHP says
China will be the lone major economy to grow this year, while developed economies will commence a slow recovery in 2021 without any likelihood of returning to pre-pandemic conditions before 2023, … ( read original…
European stocks slip after sell-off in China
European stock markets opened lower on Wednesday, following an equity sell-off in China and despite new record highs for US stock markets overnight. The Hong Kong Hang Seng (^HSI) fell 0.9%, the … ( read…
Trump Says He Delayed China Talks, Faults Beijing Over Virus
The talks were to assess the so-called “phase 1” deal, although they had not made any official public calendar in Washington or Beijing. Bloomberg’s Stephen Engle reports on “Bloomberg … ( read original story …)
Beijing’s bitter wine backlash will have ‘major impact’ on Australian producers
The Federal Government is at a loss over China’s latest move against the Australian wine industry as experts say the country continues to suffer “retaliation” by Beijing amid “intensifying … ( read original story …)
People’s Bank of China acquires stake in ICICI Bank
The People’s Bank of China (PBOC) — the Chinese central bank — is using the portfolio route to pick up stakes in Indian companies amid the standoff between New Delhi and Beijing in Ladakh and…
How finance firms are caught in the crossfire between Washington and Beijing
Bizarre though it may seem for share buying to be used as a political protest, it is somehow appropriate in Hong Kong. Beijing’s critics argue that curbs on political … ( read original story …)
China’s Lufax Ties Up With Thai Bank for Local Online Wealth Management
BEIJING — Lufax, one of China’s largest online wealth management platforms backed by Ping An Insurance Group, said its unit has formed an alliance with Kasikornbank to set up an online wealth … ( read…
China Announces Anti-Dumping Probe on Australian Wine
(Bloomberg) — China started an anti-dumping investigation into Australian wine, the Ministry of Commerce said in a statement Tuesday.The probe would normally finish within a year, but can extend to … ( read original story…
BHP profit hit by pandemic, warns growth cooling outside China
While a sharp economic recovery in China helped BHP report a 4% rise in annual iron ore output last month and fuelled optimism over future growth, uncertainty over demand growth elsewhere continues to … (…
China’s JD.com posts upbeat results as online orders surge
China, which has under a thousand active COVID-19 cases currently, has largely emerged out of lockdowns but demand is still picking up in many sectors. The company’s net product revenue, which … ( read original…
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