At a time when the country faces unprecedented challenges, these state-owned banking giants show their importance as the economy’s lifeline.
FINANCE
Temu’s woes are fresh signs of the doom loop headed for China’s economy
“As a result, the Chinese economy runs the risk of getting caught in a doom loop of falling prices, insolvency, factory closures, and, ultimately, job losses.” …
Can China’s yuan, now a familiar face around the world, become a must-have currency?
China’s yuan has become more acceptable to foreign countries, but authorities still maintain tight control of fund flows under its capital account.
China approves 117 video games in August, the most in 2024, amid Black Myth: Wukong mania
Alibaba owns the South China Morning Post. Other major video gaming firms whose new titles also made the cut in August include Perfect World and Yoozoo Games. Multiple titles submitted by state-owned …
China’s Giving Mixed Signals on Its Economy. That’s a Problem.
China has created a floor under currency and bond yields while also cutting rates. The measures add confusion about policy as the world’s second-largest economy sputters.
Silicon Valley Bank’s Chinese Partner Buys Out Stake in Joint Venture
BEIJING (Reuters) – Silicon Valley Bank’s Chinese joint venture will become a wholly owned unit of Shanghai Pudong Development Bank, following approval to change its name to Shanghai Innovation Bank, …
China’s central bank makes net government bond purchase in August
China central bank announced on Friday that it conducted open market government bond transactions in August resulting in a net purchase of bonds with …
China’s weak factory PMI raises pressure for consumer stimulus
BEIJING (Reuters) -China’s manufacturing activity sank to a six-month low in August as factory gate prices tumbled and owners struggled for orders, an official survey showed on Saturday, pressuring …
‘We also acquire leverage against China’: 16th Finance Commission head Arvind Panagariya makes strong case for allowing Chinese investments
Panagariya, talking about India’s economic output, dismissed fears of India falling into a middle-income trap, predicting that the country could sustain growth rates of over 7% if it avoids past economic mistakes.
Move over Beijing, Mumbai is the new capital of Asian billionaires: Hurun India Rich List 2024
India’s financial lifeline Mumbai has beaten China’s Beijing to become the billionaire capital of Asia, according to the Hurun India Rich List 2024.
China’s Central Bank Starts Govt Bond Trading in Highly Anticipated Move
About $14 billion has been injected into the financial system via open market operations after warnings about the risks posed by the country’s extended bond rally, which has pushed Chinese long-term …
China’s state banks report more bad loans to hotels, restaurants and stores
HONG KONG — Bad loans in consumer-facing industries have crept upward at China’s biggest state-owned banks while a key gauge of profitability has fallen, posing a fresh challenge in managing loan …
China Vanke posts $1.1 billion H1 core loss, sees positive cash flow
China Vanke, a major state-backed property developer, on Friday reported its first core loss of 7.6 billion yuan ($1.07 billion) in the first half, but it said its cash flow returned to positive in …
