Simply sign up to the Chinese business & finance myFT Digest — delivered directly to your … the decoupling that we all want to avoid,” Santos said in an interview in Beijing. Foreign chambers of…
FINANCE
China’s new financial watchdog gets teeth to take on fintech risks
China has put risk control and regulation of emerging industries front and centre of responsibilities for its new financial regulator as fintech becomes a bigger player in the economy.
Yellen says ransomware attack on China’s biggest bank minimally disrupted Treasury market trades
Real-time index price for TSX 60 VIX Index (VIXI), along with buy or sell indicators, analysis, charts, historical performance, news and more
China’s largest bank hit by ransomware attack
ICBC, the largest bank in China, suffered a devastating ransomware attack which disrupted its financial services (FS) systems, with a knock-on effect of affecting US Treasury markets, and sending ripples across the global financial world.…
The power of the West’s interdependence with China
America’s relationship with China involves massive tensions between economics, which act to bring the two countries ever closer together, and geopolitics, which is driving them ever further apart. Unusually,
Brazen ransomware attack on US unit of Chinese banking giant has financial sector on alert
A ransomware attack on a US unit of the powerful Industrial and Commercial Bank of China that may have contributed to a brief market sell-off on Thursday was a significant escalation for cybercriminals that underscored how…
The World’s Largest Bank Was Just Hit by a Ransomware Attack. Experts Say These Hacks Will Keep Happening
Sources told Bloomberg that ICBC Financial Services, a U.S. subsidiary of Industrial and Commercial Bank of China, relied on the offline system to process trades of U.S. Treasuries after it was hit by a ransomware…
Wall Street and Beijing fight fallout of ransomware attack on China’s biggest bank
The attack prevented ICBC FS from settling Treasury trades on behalf of other market participants, according to traders and banks. Hedge funds and asset managers rerouted trades because of the …
China’s latest stimulus effort unintentionally creates chaos in its financial markets as short-term rates hit 50%
China’s recent sale of sovereign bonds has created a massive liquidity crunch, forcing some banks to borrow at astronomical costs.
Ransomware attack on China’s biggest bank disrupts Treasury market trades
U.S. Treasury says it’s in contact with financial regulators after China’s biggest bank says it experienced a ransomware attack that reportedly disrupted trading in the U.S. Treasury market …
China can raise 2024 budget deficit ratio to spur growth – c.bank adviser
China can raise its budget deficit ratio next year to support the economic recovery because there is still space for the central government to issue more debt, Wang Yiming, a policy adviser to the central…
China To Legalize Shadow Banking?
The Financial Times reports that China’s government is moving to regulate the shadow banking sector, while at the same time officially legitimizing these alternate sources of funding.
China’s budget deficit ratio can be increased next year – c.bank adviser
China’s budget deficit ratio can be increased next year, Wang Yiming, a member of the Monetary Policy Committee of the People’s Bank of China (PBOC), said on Friday at the Caixin Summit in Beijing. The…
