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…
FINANCE
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 a U.
China to Wrap Ant Probe With $1.1 Billion Fine, Reuters Says
China is likely to announce a fine of more than 8 billion yuan ($1.1 billion) on Ant Group Co. as soon as Friday, Reuters reported, capping years of scrutiny over the erstwhile digital finance leader…
Goldman Targeted by China State Media for Bearish Bank View
A state-owned Chinese newspaper issued a rare rebuttal of Goldman Sachs Group Inc. research after the securities firm’s analysts recommended selling shares of local banks, the latest sign of official …
Savers in China trek hundreds of miles for higher bank deposit rates
Dan Chenmade a 270 km return train trip from Shenzhen to neighbouring Guangzhou to deposit one million yuan (S$186,700). Read more at straitstimes.com.
China urges concrete actions by US on economic, trade ties
China’s Ministry of Finance said on Friday that China urges the United States to take concrete actions for healthy development and mutually beneficial cooperation of the economic and trade ties …
Yellen to discuss US-China ties, global economic outlook in Beijing
US Treasury Secretary Janet Yellen begins a full day of meetings in Beijing including with Premier Li Qiang on Friday, as Washington seeks to steady the tense relationship between the world’s top two …
China hopes US will take ‘concrete actions’ for healthy trade relations
China hopes the US would take “concrete actions” to create a favorable environment for the healthy development of bilateral economic and trade ties, Chinese finance ministry said in a statement on …
China’s wobbly economic recovery unlikely to become full-blown ‘Japanification’
Sentiment towards China is bleak, but the differences between China and Japan are far more consequential than the similarities The bigger China’s vulnerabilities, the stronger the likelihood that …
China revises EV credits for automakers, reducing offset opportunities that have driven production
China’s Ministry of Industry and Information Technology announced a revision to its long-running “dual-credit policy,” in which local automakers …
U.S.’s Yellen begins China visit with both sides locked in confrontation
U.S. Treasury Secretary Janet Yellen arrives at Beijing Capital International Airport in Beijing, China, Thursday, July 6, 2023. Mark Schiefelbein/Pool via REUTERS …
Does it pay to be a communist in China?
Party members can be found at every rung of the economic ladder. Of the poorest tenth of Chinese households, about 14% contain a party member, according to the China Household Finance Survey by …
China to speed up infrastructure projects to shore up growth, amid call to ‘determine scale’ of debt
China is to accelerate new debt issuance to shore up growth amid calls from the national legislature for measures that could “scientifically determine the scale” of the country’s medium and long-term …
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