China has both private and government-run social credit schemes, and these nascent programs differ substantially. Sesame Credit, a private program run by Ant Financial (Alibaba), operates more like a … ( read original story …)
FINANCE
China’s US$7 billion railway link to Laos is almost half done, on schedule to begin service in 2021
The Chinese government will bankroll 70 per cent of the cost of the railway, while Laos – where subsistence agriculture makes up half of the economic output – pays for the remaining 30 per cent…
China’s electric buses are killing oil demand as US production booms
China’s rapidly growing fleet of electric buses could be the biggest existential threat to oil demand in the future as more and more vehicles shun fossil fuels. A new report from Bloomberg New Energy ……
Italy Leads Europe Into China’s Embrace
Geraci dismissed financial market speculation that China might be ready to buy Italian government bonds. “The Italian bond market is one of the most liquid bond markets in the world, yields may be … (…
HK residents can open mainland bank accounts in city
In this Aug 23, 2012 photo, a woman walks past the Bank of China Tower in Hong Kong. The Bank of China (Hong Kong) has launched a new service allowing Hong Kong residents to open…
China’s First Digital Bank, WeBank, introduced the ‘3O’ Paradigm of Open Banking at Money 20/20 Asia
SINGAPORE, March 21, 2019 /PRNewswire/ — Henry Ma, Vice President and Chief Information Officer of WeBank in Singapore, showed Money 20/20 audiences a future world of ‘Open Banking’ and introduced … ( read original story…
Sticks and carrots from China’s leadership to Chinese banks
First, banks are going to be allowed to issue perpetual bonds to improve their solvency ratios. Second, the People’s Bank of China (PBoC) is ready to accept them as collateral for a new liquidity ……
US agriculture secretary warns over China trade deal approach
China uses them, they need them, and that would be a really good faith signal that they are interested in really trying to resolve the severe trade deficit,” Mr Perdue said. Some US farmers are…
Ex-Swedish ambassador to China denies breaching national security
deputy chief public prosecutor Hans Ihrman told the Financial Times. The investigation centres on claims by the daughter of Hong Kong bookseller Gui Minhai — a Swedish citizen detained in China — that … (…
Race is on for tech companies like Grab, Ant Financial to gain an edge in SE Asia’s financial services market
Alibaba’s financial affiliate, which has over the last decade become one of China’s leading providers of mobile payments as well as financial services, such as its money market fund Yu’e Bao and … ( read…
China’s Geely Auto promises more models to support sales in uncertain domestic market
BEIJING (Reuters) – China’s Geely Automobile Holdings said on Thursday that it will invest more in new energy vehicles and higher-end models after forecasting flat sales in 2019 due to uncertainty … ( read original…
China State Fund Joins Shift From Coal Power Investments
“China will continue to be a main coal consumer … “Chinese banks will also continue to finance coal-fired power, even though it may be at a smaller scale.” ‘Globally Significant … ( read original story…
China slowdown and European populism unnerve luxury watchmakers
but of course it could also be in other cities,” he tells the Financial Times. The bigger question for watchmakers is whether the fortunes of their largest consumer markets are also likely to change. ……
