China is cracking down on capital outflows as the yuan weakens China’s three biggest bitcoin exchanges took steps to prevent withdrawals of the cryptocurrency amid pressure from the nation’s central bank to clamp down on…
FINANCE
Central bank withdraws liquidity for three weeks
BEIJING – China’s central bank has drained liquidity from the market for three consecutive weeks, as demand for funds fall after the Lunar New Year holiday. The People’s Bank of China (PBOC) withdrew 625 billion…
Trump changes tack, backs “one China” policy in call with Xi
BEIJING/WASHINGTON (Reuters) – U.S. President Donald Trump changed tack and agreed to honor the “one China” policy during a phone call with China’s leader Xi Jinping, a major diplomatic boost for Beijing which brooks no…
Trump backs “one China” policy in call with Xi
BEIJING/WASHINGTON (Reuters) – U.S. President Donald Trump changed tack and agreed to honor the “one China” policy during a phone call with China’s leader, a major diplomatic boost for Beijing which brooks no criticism of…
China central bank warns bitcoin exchanges that violations could mean closure
SHANGHAI China’s central bank said on Thursday it met with nine of the country’s smaller bitcoin exchanges to discuss risks and problems in the bitcoin market, and warned them that they risk closure should they…
Trump may soon label China a currency manipulator, Deutsche Bank says
The Trump administration could soon move to label China a currency manipulator and impose penalties like higher taxes on Chinese imports. President Donald Trump has repeatedly bashed China, accusing the world’s second-largest economy of cheating…
Alibaba's Ant Financial to raise as much as $3 billion in debt: source
HONG KONG China’s most valuable online finance company, Ant Financial, is in early stage talks with banks to raise between $2 billion to $3 billion in debt to fund acquisitions and foreign investments, a person…
China's response to THAAD does not warrant South Korean action: minister
SEOUL South Korea’s finance minister said on Thursday China had not taken any retaliatory measures over plans to deploy a U.S. anti-missile system that warranted official action, although South Korea is ready to lodge a…
China central bank says warned bitcoin exchanges of closure risk on rule violations
The People’s Bank of China said in a statement on its website that it had told the exchanges during the Wednesday meeting not to take part in financial activities such as margin lending or allow…
China, U.S. help Pernod beat estimates, India lags
“We are not changing our guidance despite this headwind in India which is offset by a better-than-expected performance in China,” Chief Executive Alexandre Ricard told Reuters by phone. The owner of Absolut vodka, Martell cognac…
Jaguar Land Rover’s ongoing investment in China hides serious Brexit challenges
Jaguar Land Rover (JLR), owned by India’s Tata Motors, increased sales to China from around £250 million in its 2009 financial year to almost £8 billion in 2014-2015, allowing it to more than double its…
China's Shenhua apologise after failing to make Champions League
SHANGHAI (Reuters) – China’s high-spending Shanghai Greenland Shenhua FC, spearheaded by expensive new signing Carlos Tevez, have apologised to fans after being dumped out of Asia’s top club competition by Australian side Brisbane Roar. Shenhua…
Opinion: How Precarious Is China’s Economy? (FXI)
Investors and financial journalists alike have been predicting imminent collapse of China’s economy for some time now. Most of the arguments suggest that the communist Chinese government has been “cooking the books.” In other words,…
