China’s central bank didn’t immediately respond to a faxed request for comment. “It seems as if Beijing is showing the full extent of policies they could deploy in response to Trump’s protectionist rampage,” said Viraj…
FINANCE
People’s Bank of China Plans Wider Crackdown on Cryptocurrency
The People’s Bank of China (PBOC) is planning more draconian measures on domestic cryptocurrency operations, dashing hopes that the world’s second-largest economy would ease last year’s blanket ban on the asset class. // — Discuss…
China’s Xi promises to lower tariffs this year, open economy further
Xi also said China would raise the foreign ownership limit in the automobile sector “as soon as possible” and push previously announced measures to open the financial sector. “This year, we will considerably reduce auto…
Sperm bank in Beijing will only accept donors loyal to the ruling Communist Party
One of the largest sperm banks in Beijing has set loyalty to the Communist Party as a prerequisite for donors, in a sign that China’s increasing emphasis on ideological training is being extended to the…
China’s president promises to cut auto import tariff
But he mentioned themes that are key irritants in relations with Washington, repeating pledges to open China’s banking and finance industries to foreign ownership and to protect the intellectual property of foreign companies. Xi tried…
HSBC to expand further in China, cut red tape under new management team
LONDON (Reuters) – HSBC (LSE:HSBA.L – News) will seek to cut internal bureaucracy and expand investment in China’s southern region to the rest of the country, executives at the bank said on Monday, in the…
China to create national financial database to fend off systemic risk
BEIJING (Reuters) – China will launch a five-year plan to build a national financial database with a focus on cross-sector products and important institutions including holding firms, in Beijing’s latest measure to curb systemic financial…
Former China bank governor makes nice with US over trade war
Boao, China: The former governor of China’s central bank says China does not need such a high trade surplus with the United States, in an indication Beijing may be willing to give ground in its…
China should invest in assets other than Treasuries: central bank adviser
BOAO, China (Reuters) – China should make better use of the country’s funds by looking to invest its large capital reserves in real assets, not United States Treasury bonds, an adviser to China’s central bank…
China vice premier says will win battle against financial risk: Xinhua
Liu, China’s senior-ranking official for economic affairs, made the comments at the establishment ceremony for the country’s new banking and insurance regulator, the China Banking and Insurance Regulatory Commission (CBIRC). China will push forward ……
China’s Answer to the World Bank Wants Green, Clean Asian Infrastructure
Jin Liqun may not be a household name (yet), even though he has one of the most challenging and important jobs in global finance. Jin, 68, is the inaugural president and chairman of the Asian…
Brewing US-China trade war spooks asset managers
A full-blown trade war between Washington and Beijing could lead to falls of up to 50 per cent in equities, instability in the US Treasury market and damage to China’s banking system. That warning from…
China’s five big banks see faster profit growth
China’s five major banks reported faster net profit growth and lower bad loan rates in 2017. The country’s biggest bank, the Industrial and Commercial Bank of China (ICBC), saw its net profit up by 3…
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