Stripe hopes the integration will help boost its revenues by allowing clients to tap China’s vast consumer market, where credit cards account for only a fraction of online spending, the company said. Alipay is the…
FINANCE
What South Korea’s 1997 Meltdown Can Teach China in 2017
In China an authoritarian regime has sacrificed financial rationality to prop up the unsustainable growth rates that give the Communist Party its legitimacy. What China really requires is the state’s withdrawal from the economy, to…
Crown judgment reveals casino group’s $875m China windfall
Mr Scott said a casino’s theoretical win rate was around 2.5 per cent of rolling chips, which meant mainland China generated $875 million in VIP revenue for the casino group last financial year, based on…
China takes firm stance on deleveraging
China has been resolute in containing leverage and financial risks, as it endeavors to trade short-term deleveraging pains for the long-term health of the economy. The People’s Bank of China (PBOC) increased cash injections early…
China was the real victor of Asia’s financial crisis
So, who won: Mahathir Mohamad or George Soros? The venomous argument between the Malaysian leader and the US fund manager during the Asian financial crisis 20 years ago symbolised the fury of those times. It…
Trade with China offers clues to North Korea’s economic health
However, China turned away North Korean ships in April … A Chinese trader interviewed in Dandong, the border city that handles most trade with North Korea, told the Financial Times he carefully checked “shopping lists”…
Other view: North Korea missile crisis should cost China
This requires access to international financial networks — often through China-based banks and institutions — for laundering illicit income or carrying out trade purchases and sales in violation of the sanctions. These deals can largely…
China’s retail banking poised to outgrow corporates as lenders aim for lower cost, better assets
China’s retail banking market is on path to become the world’s second largest by 2020, with the industry’s aggregate income growing 10 per cent to 3.2 trillion yuan (US$471 billion) according to a forecast by…
Chinese Bank Giants Lose $15 Billion in a Week on Share Rout
Investors couldn’t sell Chinese banking giants fast enough this week. Industrial & Commercial Bank of China Ltd., Agricultural Bank of China Ltd. and Bank of China Ltd. posted their worst weeks since at least June…
China’s probes on Fosun, HNA and others unleash the power of the unsaid word
The China Banking Regulatory Commission (CBRC), in an unusual move, ordered banks on June 6 to check their offshore exposures to these companies. The regulator was concerned amid the government’s efforts throughout 2016 to deter…
Banks and Internet Companies: A Calculated Relationship
(Beijing) — Banks and internet companies are shaping up to be the new power couple in China’s much-coveted consumer finance space. In late June, three tie-ups emerged within a week’s time: Industrial and Commercial Bank…
Economic Watch: China takes firm stance on deleveraging
BEIJING, July 9 (Xinhua) — China has been resolute in containing leverage and financial risks, as it endeavors to trade short-term deleveraging pains for the long-term health of the economy. The People’s Bank of China…
Top 10 global banks
The Industrial and Commercial Bank of China remains the world’s largest bank, according to the latest ranking released by The Banker magazine on July 3. ICBC has $281 billion in tier one capital, the key…
