SHANGHAI Bank of China, one of the country’s “Big Four” state banks, has begun to sharply limit corporate customers’ ability to purchase foreign currency in Shanghai, in what sources said on Friday was a bid…
FINANCE
China urges U.S. to abide by WTO anti-dumping agreement
BEIJING (Reuters) – China on Friday urged the United States to abandon a surrogate country approach it uses to calculate anti-dumping measures against Chinese exports, as a related clause in China’s World Trade Organization (WTO)…
China's top social messaging app censors users abroad: report
BEIJING (Reuters) – Censorship on China’s top social messaging app WeChat goes beyond the country’s borders, according to a report released on Thursday, with messages containing sensitive terms that are sent from overseas to mainland-linked…
China Takes Key Step Toward Reducing Banking System Risk
Last week, China (NYSEARCA:GXC), through its Banking Regulatory Commission (“CBRC”), has taken aim at reining in the risk in its financial sector through the regulatory targeting of off-balance-sheet activities. Given the organization’s current regulations ……
China banking regulator to tighten rules on lenders' derivative trading
SHANGHAI China’s banking regulator has drafted rules that will require lenders to tighten risk management in derivatives trading, a business the watchdog said has been expanding rapidly in recent years. Lenders must set up sound…
China's Central Bank Is Facing a Major New Headache
People’s Bank of China Governor Zhou Xiaochuan already has one policy headache with the currency falling to near an eight-year low. He could have an even bigger one next month. That’s when a $50,000 cap…
Small China Banks With $4 Trillion Assets Seen Too Big to Fail
Short-term borrowing costs surged for the riskiest lenders including rural commercial banks, which hold 29 trillion yuan ($4.2 trillion) of assets, 13.4 percent of the total amount in China’s banking system. Yet confidence in the…
China regulates banking cards to counter telecom fraud
BEIJING, Dec. 1 (Xinhua) — New rules regulating the application and use of bank cards took effect Thursday as China’s central bank decided to crack down on illegal practices. An individual can now only open…
China backflips on currency policy with controls to stem yuan’s outflow
China’s central bank will limit the amount of renminbi that Chinese companies can remit outside the country, imposing a cap for the first time in more than two decades to stem the yuan’s outflow amid…
China's AliPay apologizes after soft porn floods its payment app
China’s answer to PayPal has apologized after a new social media feature on its payments app was hijacked by promoters of soft pornography. Alibaba (BABA, Tech30) affiliate Ant Financial launched Circles on its Alipay app…
China's economic, financial progress applauded by IMF, WB officials
China has made great progress in economic growth and financial development, which reflects the government’s sound and effective management, officials with the International Monetary Fund (IMF) and World Bank have said. The officials paid a…
China central bank injects more funds into financial market
China’s central bank said Thursday it had put 739 billion yuan (107 billion U.S. dollars) into the financial market through medium-term lending facilities (MLF) last month. Total outstanding MLF loans to financial institutions stood at…
No Chinese financial crisis over next three years, says S&P Ratings
A growing number of commentators now fear China’s growing debt mountain has become a ticking time bomb. But they might be worrying overly, according to S&P Global Ratings, which thinks a financial crisis is unlikely…
