Other banks penalized include local branches of Bank of Ningbo Co. and Agricultural Bank of China. Beijing has been ramping up efforts to halt a flood of money leaving the country in response to an…
FINANCE
China to boost foreign, private investment, defuse local gov’t debt risk
BEIJING, July 28 (Xinhua … and safeguarding the country’s financial stability, according to a statement issued after the meeting. ( read original story …)
China vows to curb rise in local government debt via ‘disguised channels’
BEIJING (Reuters) – China will resolutely curb the rise in hidden local government debt via “disguised channels”, although risks posed by the overall government debt load are generally under control, finance ministry officials said on…
Sino-US trade and investment relationship needs fairness and reciprocity
China is much less open to the US, especially in financial sectors such as banking, insurance, and electronic payments. However, the fact is that the opposite may also hold true. For the US, the financial…
Is the new financial information swapping scheme a ticking bomb for China’s richest?
Some of China’s richest individuals – who have been transferring substantial assets overseas for decades – could be vulnerable under a new schemeannounced recently, that tax agencies in Hong Kong and mainland China can collect…
Why hurdles to China’s deleveraging remain
China’s resolve to bring financial risks under control has strengthened since mid-2016, but the likelihood of success remains uncertain, according to S&P Global Ratings. Can this round of credit control in China succeed? China’s latest…
China’s Ant Financial Partners With CIMB Subsidiary In Malaysia
China’s Ant Financial is targeting the Malaysian market by forming a mobile wallet joint venture with a subsidiary of local bank CIMB. Finextra reported news that Ant Financial will hold a minority stake in the…
China shifts gear from growth to debt cuts in race against rising tide of red ink
It also comes just weeks after the Institute of International Finance said the country’s total debt might have shot above 300 per cent in May. A separate study by the Bank for International Settlements concluded…
Starbucks makes a big move in China
Starbucks is buying the remaining 50% stake in its East China business for $1.3 billion – Starbucks’ largest acquisition ever! Yahoo Finance’s Alexis Christoforous and Andy Serwer take on the big expansion for the iconic…
China To Provide $1.5 Billion To Finance Iran Railway Project
China’s Exim Bank (the Export-Import Bank of China) penned a contract with Iran’s Bank of Industry and Mine to finance $1.5 billion for signaling of Tehran-Mashhad railroad, IRIB news reported. The agreement was signed in…
New steps to prevent financial risks
China will strengthen the coordination of financial regulation, stabilize the property market and prevent systemic financial risks, according to a statement issued after a top leadership meeting on July 24. “Financial disorder will be tackled…
China Art Financial : Positive Profit Alert
This announcement is made by China Art Financial Holdings Limited (the ”Company”, and together with its subsidiaries, the ”Group”) pursuant to Rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange…
China would cut growth to manage risk – Yahoo7
eventually lead to large systemic risks that would cause serious harm to China’s economy,” Yang Weimin, vice minister of Office of the Central Leading Group on Financial and Economic Affairs, said. “We would rather sacrifice…
