China has passed Europe and the United States as the biggest trading partner of most African countries. Most run large deficits with Beijing, exporting minerals and buying Chinese manufactured goods. ( read original story …)
FINANCE
China Party journal warns of trade war’s impact on financial stability
SHANGHAI (Reuters) – A Chinese Communist Party journal said on Saturday that the country may experience near-term pain from trade friction with the United States, including a negative impact on financ… ( read original story…
Beijing’s massive new airport ‘on time’ for 2019 launch
Amid farmlands on the outskirts of Beijing, a massive construction site rising above the horizon bustles with activity as 8,000 workers build a new mega airport. Aimed at easing the passenger load of … (…
Hong Kong’s digital banking push pits tech newcomers against old-guard lenders
Bidders hoping to challenge the dominance of HSBC and its local rivals, Bank of China (Hong Kong) and Standard Chartered , include China’s Ant Financial, Tencent , and Ping An Insur… ( read original story…
China’s Central Bank Faces Tough Task in Guarding Nervous Yuan
September is set to be a hard month for China’s money markets, handing the nation’s central bank the tricky task of adding just enough liquidity without prompting renewed weakness in the yuan. Funding … (…
Japan finance minister, Chinese officials endorse global trade system amidst Trump tariffs
BEIJING—Japan’s finance minister and Chinese officials have pledged support for the multilateral system of global trade regulation ahead of a possible new round of U.S. tariff hikes in a battle over B… ( read original…
China’s banks see jump in fines under chief regulator Guo – UBS
BEIJING (Reuters) – Fines levied by China’s banking regulator have surged since Guo Shuqing became its head in February 2017, rising nearly six-fold from the cumulative fines levied over the previous … ( read original…
Japan says financial dialogue with China ‘extremely good’
BEIJING (Reuters) – Japanese Finance Minister Taro Aso said on Friday that the current round of financial dialogue with China was “extremely good”, and that both sides agreed to maintain cooperation i… ( read original…
China to escalate efforts in curbing financial risks
BEIJING, Aug. 30 (Xinhua) — China’s banking and insurance regulator has vowed to step up efforts in curbing financial risks and deepening reform and opening-up in the sectors. China’s economy has mai… ( read original…
China’s top bank ICBC flags trade war risks as profits rise
SHANGHAI/BEIJING (Reuters) – Industrial and Commercial Bank of China (1398.HK)(601398.SS), the world’s largest commercial bank, joined its peers in reporting higher first-half profit and a steady bad … ( read original story …)
China Banks Managing $16 Trillion Can’t Stop Talking About Risk
Bank of China Ltd. said it achieved “new breakthroughs in risk mitigation,” while China Construction Bank Corp. touted its “stringent risk management.” Industrial & Commercial Bank of China Ltd., the … ( read original story…
China’s big banks post firm results, see trade tension risks
Agricultural Bank of China (AgBank) (01288.HK, 601288.CN), the country’s third-largest lender, expects its asset quality to stabilize in the second half, but said it has increased provisions as trade … ( read original story …)
Trade tensions cast shadow even as China’s big banks bag more profits
BEIJING (Reuters) – Agricultural Bank of China (AgBank), the country’s third-largest lender, expects its asset quality to stabilize in the second half, but said it had increased provisions as … ( read original story …)
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