BEIJING — China is reducing import duties on washing machines, cosmetics and some other consumer goods amid U.S. pressure to narrow its multibillion-dollar trade surplus. The Cabinet announcement Wednesday was the third tariff cut in…
FINANCE
How Will Ant Financial, China’s Fintech Giant, Be Impacted By New Regulations?
Ant Financial, which began as an online payment branch of Jack Ma’s internet marketplace behemoth Alibaba, is now an affiliate company that operates the largest online payments platform in the world. Ant Financial also has…
African finance leaders to debate using China’s yuan as a reserve currency
Central bankers and officials from 14 African nations will discuss the viability of using China’s yuan as a reserve currency for the region, Xinhua reported on Tuesday. Seventeen top central bankers and officials from the…
At Beijing security fair, an arms race for surveillance tech
BEIJING (Reuters) – It can crack your smartphone password in seconds, rip personal data from call and messaging apps, and peruse your contact book. The Chinese-made XDH-CF-5600 scanner – or “mobile phone sleuth”, as sales…
Hongkong Land Officially Opens WF CENTRAL in Beijing
BEIJING, May 30, 2018 /PRNewswire/ — Hongkong Land today officially opened WF CENTRAL, its US$1.2 billion first flagship retail-led project in Beijing. It will play a crucial role in the redevelopment of the historic Wangfujing…
Serpentine Galleries and WF CENTRAL Officially Open Serpentine Pavilion Beijing
Designed by Jiakun Architects, the first international Pavilion in Beijing hosts an eclectic programme of art … leaders across a wide spectrum of industries including leading finance, media, entertainment, retail and hospitality experts, invited to…
Room seen for finance sector reform
Yi Gang, governor of the People’s Bank of China. [Photo/VCG] There is more room for further opening-up by China in the financial sector, with more efforts to focus on three areas－capital account convertibility, market-oriented exchange-rate…
China carries out spot checks on shadow banking-CSJ
SHANGHAI, May 30 (Reuters) – China’s banking regulator is carrying out nationwide inspections on financial institutions such as trusts to check on their shadow banking and interbank activities, the China Securities Journal reported on Wednesday…
China’s New Financial Sector Reforms: Will They Go Far Enough?
Earlier this year, Chinese President Xi Jinping pledged that the country will accelerate the opening up of its financial sector in a series of “landmark” measures to be launched in 2018. They include fast-tracking foreign…
China central bank aims to expedite drafting of regulations for financing of small businesses
BEIJING (Reuters) – China’s central bank will speed up the drafting of financial regulations that govern the financing of small businesses, Central Bank Governor Yi Gang said on Tuesday, as part of wider efforts to…
China’s central bank chief tamps down expectations of liberalising country’s financial industry
The People’s Bank of China Governor Yi Gang, two months after stepping into the shoes of the country’s longest-serving central bank chief, has sought to play down the expectations of a financial industry hankering for…
China’s Ant Financial raises $10 billion at $150 billion valuation: Sources
Ant Financial has raised $10 billion from a clutch of global and local investors, five people with direct knowledge of the matter told Reuters. The amount and investor line-up are finalized and the transfer of…
China securities regulator vows financial stability ahead of MSCI entry
SHANGHAI (Reuters) – A senior Chinese securities regulator vowed to maintain financial stability and prevent asset price bubbles as the country accelerates the opening-up of its financial markets to foreign investors. The comments by Fang…
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