China’s big banks have been quietly but surely weaning themselves off North Korean money. This is not particularly about their troublesome neighbour. It is because of a fear of US repercussions. Bank branches near the…
FINANCE
China’s big banks halt services for North Koreans, tellers say
China’s Big Four state-owned banks have stopped providing financial services to new North Korean clients, according to branch staff, amid U.S. concerns that Beijing has not been … China Construction Bank (CCB) has “completely prohibited…
INSIGHT-Trust issues? China targets a $3 trillion shadow banking industry
Beijing has been taking aim at the trust companies whose unrestrained lending practices are worrying regulators. The trusts, at the heart of a vast shadow banking industry, are being pressured to step up compliance and…
China central bank issues notice on implementing U.N. resolutions
BEIJING (Reuters) – China’s central bank issued a statement on Monday on the implementation of U.N. Security council resolutions without specifying which resolutions or the affected parties. The People’s Bank of China said that Chinese…
China targets a $3 trillion shadow banking industry
S H A N G H A I • As a flood of unregulated cash swirls through the Chinese economy, Beijing has been taking aim at the trust companies whose unrestrained lending practices are worrying…
China eyes petrol car ban, boosting electric vehicles
Shanghai (AFP) – China is gearing up to ban petrol and diesel cars, a move that would boost electric vehicles and shake up the world’s biggest car market in a country that is plagued by…
China central bank relaxes yuan hedging rules as currency strengthens, capital outflows ease
BEIJING (Reuters) – China’s central bank on Monday took steps to lower the cost of hedging the yuan as capital outflows ease and the currency strengthens, suggesting authorities are anxious to quash one way bets…
Toronto Documentary ‘China Hustle’ Probes Financial Misdeeds, Swipes at Alibaba
“The China Hustle,” a feature documentary that premiered at the Toronto Intl. Film Festival on Friday, suggests that e-commerce and entertainment giant Alibaba is ripe for investigation alongside smaller Chinese companies accused of deceiving investors…
China poses threat to global financial stability: QNB
Weighed by its mounting debt, China is posing one of the biggest risks to global financial stability. Though it seems there is no imminent crisis, the threat of a financial crisis from China would be…
Trust issues? China targets a $3 trillion shadow banking industry
SHANGHAI (Reuters) – As a flood of unregulated cash swirls through the Chinese economy, Beijing has been taking aim at the trust companies whose unrestrained lending practices are worrying regulators. The trusts, at the heart…
China stocks fall as banking, resources firms take a breather
Shanghai: China stocks fell on Thursday, as profit taking in resource shares following their recent rally and weakness in the banking sector offset strong gains in real estate companies. The blue-chip CSI300 index fell 0.5…
Bank of China’s 75 years in Australia highlights story of ‘resilience, friendship’
A man speaks on the phone outside the Bank of China head office building in Beijing, March 30, 2016. [Photo/VCG] For those on hand, the event signified a great deal more than the bank’s incredible…
7 Reasons Why China Banned ICOs
In a joint decree from seven financial regulators—including the People’s Bank of China, the Ministry of Industry and Information Technology, and the China Banking Regulatory Commission—state officials laid out their reasoning. The group said they…
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