China boosted Argentina’s access to the yuan under a currency swap deal. Argentina’s president said the country can now tap $6.5 billion worth of yuan, up from $5 billion. The move comes as Argentina …
FINANCE
Nvidia thought it found a way around U.S. export bans of AI chips to China—now Biden is closing the loophole and investors aren’t happy
Problem solved, right? Now the Biden administration wants to put a stop to the AI gravy train that rocketed Nvidia’s market cap into the $1 trillion stratosphere, since it might inadvertently bolster …
S’pore officials stress supply chain resilience, green financing at Beijing forum
Singapore ministers have reiterated the Republic’s support for China’s Belt and Road Initiative (BRI) at a high-level forum in Beijing, while also stressing the need to strengthen global supply chains …
China orders banks to refinance local debts – Why?
China, the world’s second-largest economy, is wrestling with an escalating dilemma: a skyrocketing local government debt, jeopardizing its fiscal stability. This debt has arisen from a cocktail of a …
The Lex Newsletter: China weighs up fast-food stocks vs pharma stocks
Investors believed Chinese companies would make a local version of the drug. Shares in Xinjiang Bai Hua Cun Pharma Tech, Cheng Du Sheng Nuo Biotec and Hebei Changshan Biochemical have soared. The …
Capacity-Building Alliance of Sustainable Investment (CASI) announced in Beijing
China’s leading green finance think tank, the Beijing-based Institute of Finance and Sustainability (IFS), unveiled a global initiative on sustainable finance capacity building for emerging market and …
ASIA China GDP eyed as global cross currents swirl
Asian financial markets brace for Chinese GDP figures on Wednesday, the key number in a batch of Chinese indicators to be released as investors also try to navigate a heavy flow of global economic, …
China’s debt-ridden local governments face rising pressure to repay debt, and fallout from possible property-developer collapses could be crushing
The hits could keep coming for local government coffers across China as debt-repayment pressure mounts after years of hefty spending on low-return infrastructure projects.
Viktor Orban bows to Putin and Xi in Beijing
Orban’s finance minister similarly claimed that Hungary will “reject … even the most mild restrictions that would prevent Western technology from falling into Beijing’s hands — technology, it should …
The financial ramifications of US-China tensions: podcast
The rivalry between the world’s two largest powers is having an impact on almost every aspect of global business and finance. In this episode of The Exchange podcast, Jared Cohen from Goldman Sachs …
Central Asian leaders travel to China to pay homage to Xi’s BRI vision
China’s leader Xi Jinping is throwing a 10th anniversary bash for the Belt & Road Initiative, his $1-trillion plan to leverage Beijing’s financial resources into expanded geopolitical clout.
Exclusive-China tells banks to roll over local government debts as risks mount – sources
BEIJING (Reuters) -China has told state-owned banks to roll over existing local government debt with longer-term loans at lower interest rates, two sources with knowledge of the matter said, as part …
Putin Arrives in Beijing Seeking Diplomatic, Economic Support from ‘Dear Friend’ Xi
President Vladimir Putin arrived in Beijing for talks with Chinese counterpart Xi Jinping on Tuesday, seeking diplomatic and economic support from a key ally as his war in Ukraine drags on and …
