“I’ve been particularly troubled by punitive actions that have been taken against U.S. firms in recent months,” Yellen said at a roundtable with U.S. businesses in China.
FINANCE
UPDATE 1-Yellen holds talks with China’s central bank governor, former economy tsar
U.S. Treasury Secretary Janet Yellen met with China’s central bank governor Yi Gang and former economy tsar Liu He for informal talks on the global, U.S., and Chinese economies on Friday, according to …
China fines Jack Ma’s Ant Group nearly $1 billion
China’s top financial regulators have fined Ant Group — the fintech firm founded by billionaire Jack Ma — about 7.1 billion yuan ($994 million) for breaking rules related to consumer protection and …
China Hits Tech Firms With Hefty Fines As Crackdown Draws To Close
Chinese regulators said Friday they had fined fintech giant Ant Group almost $1 billion for “illegal acts” and handed an affiliate of rival Tencent a $415 million penalty, adding that a long-running …
U.S. Treasury chief Janet Yellen visits China with warning over “unfair economic practices”
Janet Yellen, in Beijing to meet Chinese officials and American businesses, stressed the U.S. desire to boost trade, but not at the expense of security.
Beijing Faces Economic Policy Failures On A Grand Scale
Beijing has had to roll out a new stimulus package and in doing so effectively admit that the original policy (to correct for the old, failed Covid policy) also had failed. The authorities in the…
China-Led Infrastructure Bank Finds No Evidence of Communist Party Influence
Beijing-backed AIIB conducted an internal review after its communications director resigned and leveled accusations.
US sees climate finance as area of possible cooperation with China, Treasury official says
WASHINGTON, July 7 (Reuters) – U.S. Treasury Secretary Janet Yellen will meet with the China’s vice premier and women economists on Saturday during her trip to Beijing, a U.S. Treasury official said.
China’s Central Bank Boosts Gold Reserves for Eighth Month
China added to its gold reserves for an eighth consecutive month, with economic and geopolitical risks as well as a desire to move away from the US dollar driving the purchases.
Analysis-China’s Banks Bear Brunt of Concerns Around Growth and Debt
Analysts at Morgan Stanley also had a note on banks this week that said China’s banks have been “in a constant process of risk digestion”, with 25% of industrial and trade finance …
Yellen, in Beijing, Criticizes China’s Treatment of U.S. Companies
Treasury Secretary Janet L. Yellen on Friday criticized the Chinese government’s harsh treatment of companies with foreign ties and its recent decision to impose export controls on certain critical …
China-based development bank rejects claims of CCP control
Asian Infrastructure Investment Bank says internal review shows lender follows ‘highest standards’ of governance.
Alibaba Surges on Report China to Unshackle Ant With Fine
Alibaba Group Holding Ltd. shares jumped in Hong Kong trading after Reuters reported that China is likely to announce a fine of more than 8 billion yuan ($1.1 billion) on its fintech affiliate, drawing a…