BEIJING/SHANGHAI (Reuters) – China Construction Bank Corp (CCB), the first of the country’s Big Five lenders to report half-year results this week, posted a 3.36% rise in first-half net profit on …
FINANCE
‘Contagion!’ China’s property meltdown spreads to ‘shadowy’ bank sparking protests
The Chinese authorities are facing street protests from fearful depositors as the country’s property market meltdown hits the banking sector.
China Should Stick to ‘Houses Are for Living, Not for Speculation’ – State Media
BEIJING (Reuters) – China should adhere to the principle that “houses are for living in, not for speculation” for the time being, the state-run Economic Daily said in an editorial on Wednesday, amid …
Debating The Size Of China’s Economic Rough Patch
as recently as just a few years ago, china was an unstoppable juggernaut. the budding superpower’s economy was growing at supersonic speed. by some …
China’s central bank conducts 301-bln-yuan reverse repos
BEIJING, Aug. 23 (Xinhua) — China’s central bank conducted 301 billion yuan (about 41.81 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Wednesday. The move aims …
China is on the precipice of its own major financial crisis
Many are worried that the bankruptcy of Evergrande will trigger a domino effect that extends that crisis from the property to the finance sector.
China to maintain tough stance against corruption in finance sector: SPP
China’s top procuratorate on Tuesday called for unremitting and across-the-board efforts to crack down on corrupt elements in the finance sector, aiming to fight corruption and forestall financial …
Can China Fix Its Trillion-Dollar Local Debt Crisis?
China has seen the world’s largest infrastructure boom over the past decade, making it one of the primary drivers of the Asian nation’s economic growth. But companies that borrowed money to finance …
China’s yuan faces a cocktail of bearish headwinds even as Beijing scrambles to prop up the currency
China’s currency has more downside ahead, according to JPMorgan strategists. Beijing has attempted to prop up the weakening yuan, but the bank sees reason to stay bearish. “The fundamental case for …
China’s digital economy major driver of 2022 growth, Beijing pledges to seize the opportunity
The internet-based economy was China’s biggest growth driver among its new economic engines last year, official data showed, highlighting Beijing’s push for the digital economy to take over from …
China-based BRICS bank aims to de-dollarize debt by expanding local currency lending
The New Development Bank has plans to expand lending in Brazilian, South African, and Indian currencies, as an alternative to the dollar.
India Sees a Shadow-Banking Boom Despite China’s Funk
Tycoon Ambani’s lending unit gets off the ground with a $19 billion valuation. Bajaj Finance, the current leader, is gunning for 30% growth.
Beijing Hyundai puts Chongqing plant up for sale
Beijing Hyundai Motor has put its Chongqing plant up for sale at a starting price of 3.68 billion yuan ($505 million), as the South Korean automaker rejigs its strategy in China amid fierce price …