Asian countries have recovered after the 1997 Asian Financial Crisis, but China is presenting fresh risks, analysts said. A credit boom and high debt levels in China contribute to danger of a financial crisis, analysts…
FINANCE
China slams US for ‘wrongful’ sanctions on Chinese bank
BEIJING: Relations between China and the US got further strained as the Trump administration censured a Chinese bank and a shipping company for allegedly assisting North Korea besides approving a major arms sale to Taiwan.…
US risks angering China as it blacklists bank over dealings with North Korea and sells weapons to Taiwan
US Treasury Secretary Steve Mnuchin announces measures taken to maximize pressure on North Korea to abandon its weapons programmes Kevin Lamarque/Reuters The Trump administration has hardened its approach to China, blacklisting a small Chinese bank…
China’s ICBC says checks of loans to big acquirers are routine
BEIJING Industrial and Commercial Bank of China (ICBC) said on Friday its checks of loans to companies that made overseas acquisitions is routine, following reports that the regulator had ordered lenders to assess credit extended…
USA blacklists China bank, revving up pressure over NKorea
The new sanctions against one Chinese bank, one Chinese business and two Chinese individuals are not a total surprise. On Twitter, Trump said China’s efforts on North Korea have “not worked out”. It is pertinent…
China’s markets could CRASH and send shockwaves around the world, economists warn
Experts say the authorities must press on with trying to clean up debt. Ms Beamish said China is likely to dodge full-scale financial armageddon but said reckoning will come. She added: “If China’s policymakers do…
China exposes US$120 million local government debt scandal
A fresh scandal involving 818 million yuan (US$120 million) of murky local government debt has been exposed by China’s finance ministry, in another demonstration of Beijing’s determination to clean up the troublesome sector. The municipal…
U.S. sanctions Chinese bank for helping North Korea finance nuke program
“The designation will make reputable Western banks ask questions about larger financial institutions in China,” said Ruggiero, who is now a senior fellow at the non-profit Foundation for Defense of Democracies. Predictably, the Chinese communists…
Blacklisted China bank cited as a N. Korea conduit to global finance
BEIJING–Washington’s move to shut off Bank of Dandong from the U.S. financial system punishes a small regional Chinese lender with what U.S. authorities say has been an outsized exposure to North Korea and its banned…
Hong Kong to be staging point for plan to draw 100 billion yuan of capital into China’s bond market
All this capital will be routed through Hong Kong, further cementing the city’s role as an integral part of China’s effort to integrate its financial system with global financial markets. A successful Bond Connect is…
China lashes out at US as Trump-Xi honeymoon ends
China lashed out at the US on Friday in protest at an apparent … a Chinese bank near the border with North Korea, from the US financial system for helping Pyongyang engage in money laundering.…
China says risk of gov’t debt controllable
Authorities have assigned the debt ceiling and the value of government debt outstanding has been declining with risks diminishing, said Wang Kebing, deputy head of the Ministry of Finance budget department. Most of the problems…
Trump taking wrong approach to China, says Reagan official who helped ‘Star Wars’ beat the Soviets
The key is, China has done it through technology-based planning.The country “is run by engineers and physicists, not MBAs and economists,” Sekora said. Technology-based planning over a finance-based approach By stark contrast, Trump is merely…
