China needs to let local governments take responsibility for their finances, including allowing bankruptcies, as part of an effort to defuse their debt risks, a central bank official wrote on Monday. Central government control of…
FINANCE
China’s central bank says will skip OMOs on Monday
SHANGHAI (Reuters) – China’s central bank said it will skip open market operations on Monday. On a net basis, the People’s Bank of China (PBOC) will drain 120 billion yuan ($18.25 billion) from the money…
6 Reasons You Should Own at Least One China Internet Stock
Many investors avoid owning stocks in China due to the greater than average risk. They cite many reasons, including the difficulty verifying information, the potential for fraud, and Chinese government interference as reasons to stay…
Curbing financial risks still a priority for China
A teller counts money at a bank in Taiyuan, capital of North China’s Shanxi province. [Photo/China News Service] BEIJING – When China’s top leaders emphasized efforts to control financial risks last year, few expected policymakers…
World’s largest amphibious aircraft makes maiden flight in China
BEIJING (Reuters) – China’s domestically developed AG600, the world’s largest amphibious aircraft, performed its maiden flight on Sunday from an airport on the shores of the South China Sea, the latest step in a military…
China Needs Long-Arm Jurisdiction in Financial Regulation, Forex Official Says
Licensing and exercising authority over foreign financial players doing business in China are critical to reducing risk of fraud amid the boom of internet finance, a senior official from the country’s top foreign exchange regulator…
Official Says Chinese Finance Suitable for Petrochem Projects
Asgaroladi said that after the lifting of international economic restrictions in early 2016, the central banks of Iran and China took measures to boost financial and banking relations and ease China’s investment in the country.…
‘China Hustle’ Documentary Claims Chinese Companies Are Deceiving American Investors
In March, a new documentary from the producers of “Enron: The Smartest Guys In The Room” claims it will shed some light on one of the largest financial frauds in the world. Jed Rothstein, director…
Banking Regulator Eyes Overlooked Trust Product
China’s banking regulator has decided to extend its oversight to a so-far overlooked type of trust product in an attempt to further clamp down on financial risks stemming from the business that banks and trusts…
China needs to continue reducing financial leverage – central bank deputy governor
SHANGHAI (Reuters) – China must proactively but gradually reduce debt in the economy to prevent the buildup of financial risks, state news agency Xinhua quoted China’s central bank’s deputy governor as saying on Saturday. Yi…
China curbs lender-trust cooperation in fight against shadow banking
BEIJING (Reuters) – China’s banking regulator on Friday banned lenders from using trust firms to skirt regulations and cover up risk in Beijing’s latest effort to crack down on shadow banking. In a statement on…
China stocks fall as financial and consumer shares drag
SHANGHAI, Dec 22 (Reuters) – China stocks dipped on Friday, as weakness in banking and consumer stocks offset gains in the energy sector, but the indexes were up for the week. ** At the close,…
China’s using cheap debt to ‘bend other countries to its will,’ academic says
China’s continents-spanning Belt and Road network threatens … But concerns of developing countries taking on unrealistic financial obligations have sparked allegations of what’s being called ‘dept-trap diplomacy.’ Earlier this year, Indian Prime Minister … (…
