China Everbright Bank (Europe) S.A. and China Everbright Bank Luxembourg Branch officially started their business operations on Friday. It was hailed by the bank as a crucial step in implementing the Belt and Road Initiative,…
FINANCE
‘Silk Road’ plan stirs unease over China’s strategic goals
The Asian Development Bank says the region, home to 60 per cent of the world’s people, needs more than $26 trillion of such investment by 2030 to keep economies growing. The initiative is in many…
What’s “All of the Fuss” About China’s ICO Ban?
The September 4 announcement, however, of an ICO ban in China caused a momentary global panic that sent Bitcoin prices on a temporary tumble. The People’s Bank of China (PBoC) deemed ICO’s illegal, ordering all…
China August imports beat expectations, but exports disappoint
China on Friday reported data pointing to strong domestic demand as imports beat expectations in August, although overall export growth eased. In August, China reported August exports were up 5.5 percent from a year ago…
China shares pioneering environmental finance experience with the world
Experts from around the world attended the 2017 International Green Finance Forum in Beijing Tuesday, at which they discussed how to make green finance mainstream around the globe to help deal with climate change. The…
Technology should play bigger role in banking, say finance experts
according to participants at a forum on the finance sector’s transformation and innovation held by the IDC China research company in Beijing. “Where is the bank?” asked Cyrus Daruwala, managing director of financial insight at…
Bitcoin tumbles on report China to shutter digital currency exchanges
… cross regulators committee that oversees online finance activities told Chinese financial publication Caixin that authorities plan to shut key bitcoin exchanges in China. Reuters was not immediately able to verify the report. The news…
China raises yuan rate to 16-month high as dollar sags
China raised the exchange rate for the yuan against the US dollar for the 10th consecutive session on Friday, pushing the unit to its highest level in 16 months. The People’s Bank of China (PBOC)…
China to loan Guinea $20 bln in exchange for minerals
CONAKRY (Reuters) – China agreed on Wednesday to loan Guinea $20 billion over almost 20 years in exchange for mineral concessions focused mainly on bauxite, an ore of aluminium which the West African country has…
China is clamping down on predatory ‘financial crocodiles’
Photo: Justin Sullivan/ Getty Images. In nature, crocodiles are apex predators. They sit at the top of the food chain. As adults, they’re not preyed upon by any other species in the wild. China’s “financial…
China’s exports cool in August while imports accelerate
BEIJING — China’s export growth weakened in August as global demand softened while imports showed unexpected strength despite expectations of a slowdown in the world’s second-largest economy. Exports rose 5.5 per cent over a year…
China bans cryptocurrency ICOs
China has clamped down on cryptocurrency trading and financial deals away from the central bank by banning Initial Coin Offerings (ICOs). ICOs have been hyped as the next big thing in the world of cryptocurrency.…
China steps up financial regulation to address risks
BEIJING – China’s ban on Initial Coin Offerings (ICOs), a digital coin fundraising scheme, was only part of a broader campaign to curb the country’s financial risks. In an announcement Monday, China’s central bank ordered…
