BEIJING (Reuters) – China is considering a merger of its banking and insurance regulators, Bloomberg News reported on Friday, citing people familiar with the matter. Government agencies under the direction of a Communist Party central…
FINANCE
China’s BAIC Plans Listing Electric Car Unit
China’s state-backed Beijing Automotive Group (BAIC) will take its electric vehicle unit public by injecting it into another listed subsidiary, boosting its financial muscle as the battle for the country’s hotly contested green car market…
A girl, a stranger, and a fight for justice in China
XIANGYANG, China — The young woman, new to the grind of Chinese factory life, knew the man who called himself Kalen only by the photo on his chat profile. It showed him with a pressed…
China will be at the center of next global financial crisis – expert
It has been a decade since the financial crisis of 2008. The economic slump is finally over, according to Harvard Professor of Public Policy Kenneth Rogoff, which means some reversion in terms of productivity growth.…
Beijing plans to boost scrutiny of Chinese offshore private equity funds: Sources
The move comes amid a wider crackdown by Beijing on debt-backed investments overseas, and opaque, shadow banking-linked wealth management products at home that have been repackaged for use in overseas funds. Under the plan, the…
Before China can remove implicit guarantees from financial system it must take these steps, says IMF
In China, many retail investors assume that if they lose money on their investments, the bank that sold these to them should cover the losses, while the banks themselves assume that loss-making state-owned enterprises will…
China’s Banks Are Improving (Sort Of)
The People’s Bank of China — which extended $273 billion to banks in 2017 — at least seems to recognize the scale of the problem. Banks, for their part, need to avoid seeing these injections…
China’s date with real financial deleveraging will have to wait
With a sharp cyclical rebound in 2017 and ahead of the 19th Party Congress, Xi Jinping’s government initiated assertive financial regulation, as well as greater party control over the operational management of enterprises and the…
Trump’s anti-China sentiment ‘detrimental’ to world, Baidu president says
Trump’s government failed to approve Alibaba (NYSE: BABA) affiliate Ant Financial’s acquisition of MoneyGram , while AT&T (NYSE: T) (WEF) in Davos, Switzerland, Zhang criticized the anti-China sentiment. “I am concerned,” he said. “And you…
China’s $15-trillion shadow banking bares cracks
BEIJING/SHANGHAI — Strains are spreading in China’s $15-trillion shadow banking industry as investors pull back from the debt-like savings products that helped drive leverage to dangerous levels. Most affected are some $3.8 trillion of so-called…
China’s ExIm Bank commits $4bn in push beyond infrastructure
Export-Import Bank of China is releasing a $4bn wave of private equity capital that will broaden the state-controlled overseas investor’s scope beyond infrastructure as it seeks to compete with global funds for diversified assets. In…
Chinese media told to tone down coverage of giant firms’ debt, finance woes
China’s banking regulator orders loan checks on Wanda … The Chinese leadership under President Xi Jinping has made bringing financial risks under control – including high levels of corporate debt – a top priority. The…
China does not control AIIB, says bank chief
The Asian Infrastructure Investment Bank (AIIB) was not created to finance China’s New Silk Road trade project nor does Beijing control its decision-making, the bank’s chief said on Monday. Speaking at an event in Brussels…
