RETURN OF STATE BANKS The student loan problem is just a small part of China’s massive financial system, but public anger over the practices of loan companies has prompted the government to act. Guo Shuqing,…
FINANCE
Luxembourg ‘offers financial gateway to Europe’ for China
Global Times reporter Ma Jingjing (GT) interviewed Luxembourg for Finance CEO Nicolas Mackel (Mackel) about the country’s role in China’s financial presence in Europe, given that some European countries, including Luxembourg, are trying to attract…
Commerce Secretary Wilbur Ross praises China’s ‘gigantic’ step on North Korea
China is “quite serious about living up to the commitments they have made regarding North Korea,” U.S. Commerce Secretary Wilbur Ross said on Wednesday. The order for Chinese lenders to stop doing business with Pyongyang…
China still stocking up on metals and credit, private survey says
S&P Global Ratings downgraded China’s long-term sovereign credit rating to A+ from AA- last week based on “increased” risks to the economy and financial system from China’s “strong credit growth.” The move followed a similar…
Beijing moves financial court to economic hub
A court specializing in financial dispute cases was moved Tuesday to Beijing’s financial street, where banks, security firms, and consultancies are clustered. The Financial Street People’s Court was moved from the Xicheng district court’s compound…
US commerce secretary strikes upbeat tone on Beijing visit
HONG KONG (AP) — U.S. Commerce Secretary Wilbur Ross said Tuesday there was a good tone during his trip to Beijing to meet Chinese officials in advance of President Donald Trump’s visit later this year…
Trump, Beijing won’t ground US deals: HNA chief
It’s faced regulatory hurdles at home, seen its ownership structure brought into question and must contend with a White House populist detrmined to keep American businesses out of Chinese hands. Yet the CEO of China’s…
China and the World Bank Officially Launch the Health Reform Program-for-Results
The Health Reform PforR will support the health service delivery transformation and the scaling up of reform pilots to improve the quality and efficiency of healthcare services in China’s Anhui and Fujian provinces The largest…
China continues shadow banking crackdown with Guangzhou raid
The Chinese Government has continued its assault on the country’s shadow banking sector following the shutdown of an illegal operation on September 26 in Guangzhou. The organisation, which was operating out of a food market…
China’s Ant brings in CK Hutchison as Hong Kong payments partner
BEIJING (Reuters) – Ant Financial, the payment affiliate of Alibaba Group Holding Ltd, said it will create a joint venture this year with CK Hutchison Holdings Ltd to operate its payment app in Hong Kong,…
China’s credit rating cut to A+ by S&P over rising debt fears
China’s credit rating has been downgraded by Standard & Poor’s amid fears rising debts are adding to economic and financial risks. The agency lowered China’s sovereign rating by one notch to A+ from AA-, putting…
Bank of China (Hong Kong) issues centenary commemorative banknotes
with the old Bank of China Hong Kong Branch and Bank of China Head Office in Beijing on the side. The reverse side of the commemorative banknote features an image of the first Hong Kong…
China’s insurance watchdog bans ‘special firms’ tolerated by former chief
China’s top insurance regulator … violation” of the Communist Party’s discipline – a catchall description that ranges from graft to financial misdeeds. “The regulator did not elaborate on who exactly the special companies are, but…
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