Goldman Sachs Group Inc. sought regulatory approval to buy a majority stake in its investment banking joint venture in China … a spokesman said Wednesday. Beijing Gao Hua Securities Co., controlled … ( read original…
FINANCE
China Traders Bet Big on a Lagging Bank Stock in Hong Kong
(Bloomberg) — It’s trading near its lowest levels since 2016 and has lost $44 billion in value since an April peak — but mainland investors can’t seem to get enough of China Construction Bank Corp.…
Pentagon warns of China’s growing influence in the Middle East
Defence officials are concerned about China’s “desire to erode US military advantages” in the Middle East, Michael Mulroy, the top Pentagon official for the region, told the Financial Times. He argued … ( read original…
Exclusive: China’s Tianjin government orders Bohai Steel restructuring start by September: sources
Since debt-to-equity swaps were re-launched by China in 2016 as a way to reduce corporate financial leverage, they have become a popular tool for banks to deal with state firms’ debt burdens in … (…
China hopes U.S. will come back to the negotiating table at Chile climate talks
“To have that financial support in place is very important and that’s the objective we would like to achieve.” China is a key investor in Chilean renewable energy projects and manufactured half of the ……
Trump says he had to ‘take China on,’ regardless of short-term impact on U.S. economy
“China has been ripping this country off for … that the trade war could trigger a possible U.S. recession weighed on financial markets last week and seemed to put administration officials … ( read original…
Chinese Bank Perpetual Bond Sales Boosted by Hunt for Yields
(Bloomberg) — The global hunt for yield is a boon for Chinese banks raising capital via perpetual bonds. Agricultural Bank of China Ltd. sold 85 billion yuan ($12 billion) of perpetual bonds last … (…
Donald Trump acknowledges China policies may mean US economic pain
The president indicated that he had no choice but to impose the tariffs that have been a drag on U.S. manufacturers, financial markets and, by some measures, American consumers. President Donald Trump … ( read…
UK says Hong Kong consular staffer detained in China
“Time is not on our side. You are talking about the 70th birthday of modern China,” he told the Financial Times. Mike Pence, the US vice-president, on Monday echoed comments by Donald Trump that it…
China may have a new way of boosting its economy. Here’s what the central bank just did
The People’s Bank of China has changed the way commercial lenders set interest rates they charge on loans. That move is expected to make borrowing costs cheaper at a time when the Chinese economy ……
No, China Isn’t Easing. It Just Has a New Benchmark
(Bloomberg Opinion) — As the financial world’s movers and shakers hunker down at Jackson Hole this weekend, one pressing question will be who’s next to cut interest rates. The People’s Bank of China … (…
China Could Use a Libor-Rigging Scandal
Perversely, such an outcome would be a good sign for its financial system. Over the weekend, the People’s Bank of China made the loan prime rate, which banks offer to their best clients … (…
Beijing’s Belt and Road plans could boost the Islamic banking sector
Beijing may be keen to get in on the action where the Belt and Road is concerned: State-owned news outlet CGTN published a May opinion piece cheering the possibility of Islamic financial vehicles … (…
