Private firms account for 80 per cent of jobs, 60 per cent of economic growth and about half of all fiscal revenue in China – and manage to do so with far lower levels of…
FINANCE
Yuan firms as traders see resilience in China’s economy
The People’s Bank of China (PBOC) set the midpoint rate at 6.871 per dollar prior to the market open. The yuan has been stuck within a narrow range over the past month, but depreciation fears…
Bank of America earns $7.4B in 2Q, beating estimates
reflecting that investors largely stayed on the sidelines in the last three months due to the economic uncertainty tied to the U.S-China trade wars and the future direction of interest rates. The bank … (…
World Digital Currency Bank Was Officially Established in Suriname of South America
HONGKONG, CHINA / ACCESSWIRE / July 17, 2019 / On July 15, Suriname, South America, officially announced the establishment of the World Digital Currency Bank (WDC). According to information, the … ( read original story…
China’s economy is ‘extremely dangerous’
Years of rapid debt accumulation have left China facing a “major financial danger”, which in turn poses an economic threat to Australia’s future prosperity, University of Sydney adjunct professor … ( read original story …)
China may slip back into its old habits as growth slows. That could raise debt levels again
… than 3,300 businesses in China from the privately-run China Beige Book showed that in the second quarter, companies reported the highest share of borrowing from the so-called shadow banking sector … ( read original…
High-profile defaults highlight risk in China’s shadow-banking sector amid asset deterioration
A slew of high-profile defaults in China’s shadow-banking sector has highlighted the acute deterioration of assets in the US$9 trillion market, analysts said. Noah Holdings, one of China’s largest … ( read original story …)
FortisBC signs Canada’s first long-term contract to supply LNG for China
CALGARY — FortisBC has signed Canada’s first long-term supply agreement to produce liquefied natural gas for export to China, the company said in a statement on Tuesday. Under the two-year … ( read original story…
Trump is bluffing on China tariffs
Markets are generally okay, for instance, with the tariffs he has imposed so far, most of them on imports from China. But Trump would cross into a no-go zone if he imposed the latest set…
Marriott CEO on US-China trade war: ‘Anxiety levels’ are up
Maybe Mr. Market is correct in sending the stock price of global hotel chain Marriott (MAR) up 32% this year despite the financial risks associated with the bruising U.S.-China trade war. “Generally I … (…
China-backed Asian Infrastructure Investment Bank adds Benin, Djibouti and Rwanda
The Asian Infrastructure Investment Bank has expanded its membership to 100, with Benin, Djibouti and Rwanda the latest countries to join the Beijing-led multilateral lender. The addition of the three … ( read original story…
One Tit-for-Tat Battle That China Shouldn’t Fight
(Bloomberg Opinion) — Long before the Federal Reserve signaled interest-rate cuts were coming, China’s central bank was busy fiddling with an intricate dashboard of monetary-policy dials to … ( read original story …)
‘Out-dovished’: Key central bank decisions promise to move markets amid heightened uncertainty
China’s economy is cooling … and retail sales figures,” said IG senior market analyst Joshua Mahony. The World Bank has ordered Pakistan to pay a joint venture operated by Barrick Gold Corp. and … (…
