According to the report, the total added value of the financial industry in 36 Chinese financial centers reached 5.69 trillion yuan ($816.5 billion) in 2021, accounting for 62.4 percent of the figure …
FINANCE
China tests a US-style grading scheme to ring-fence banking system from risks as it opens financial market to more foreign participation
The scheme is based on a descending scale of one to five, with the best-run 1A banks scoring between 95 and 100 points, while those with less than 45 points are rated five The new…
We expect China’s economy will grow 4.5% in 2023, Standard Chartered says
Abhilash Narayan of the bank says “we do see upside risk to that forecast, given the recent measures that have been announced.” Got a confidential news tip? We want to hear from you. Sign up…
Covid-19 outbreaks put China’s supply chain in the spotlight again, as foreign firms demand ‘solutions’
Covid disruptions could fray the nerves of foreign investors, while accelerating diversification plans among multinationals Some coastal authorities in provinces like Guangdong are scrambling to keep …
China Sets New Risk Rating System for Foreign Bank Operations
China’s top bank regulator Tuesday unveiled rules to upgrade its risk rating system for foreign banks’ operations in the country, outlining criteria for risk management and access to the capital of …
Gold prices settle higher as U.S. dollar weakens after China’s decision to ease COVID curbs
Gold and silver futures settled sharply higher on Tuesday as the U.S. dollar slipped. Copper also jumped on hopes that China lifting COVID-19 restrictions to reopen its economy will boost demand of …
Korea, Japan Reopening Stocks Gain on End of China’s Quarantine
People arriving in China as of Jan. 8 will no longer be quarantined, though they will still need to submit negative COVID-19 test results, health officials said.
The China trade is back on as Wall Street cheers the end of quarantine for international travelers
Analysts say China’s reopening is “encouraging news” that could spark a short-lived rally in stocks, but after that, “choppy trading” lays ahead.
China sends 71 warplanes toward Taiwan after the U.S. signs defense bill offering protection
China’s army sent fleets of jet fighters and other military aircraft into Taiwan’s air defense zone on Sunday as part of a military drill Beijing says was a response to “provocation” from the U.S. and…
Vietnam central bank buys dollars to shore up reserves after selloff
An employee counts U.S. dollar bank-notes near Vietnamese dong bank-notes at a bank in Hanoi, Vietnam August 12, 2015. REUTERS/Kham …
Dollar recovers as investors digest China’s loosening of COVID rules
The dollar pared losses on Tuesday after China said it would scrap its COVID-19 quarantine rule for inbound travellers – a major step in reopening its borders that boosted risk-related currencies such …
Reopening of China’s economy could pump up petrol prices
Drivers face higher prices at the pumps as the easing of China’s coronavirus restrictions pushes up the price of oil. The price of Brent crude has jumped from $76 per barrel to $84 since Beijing…
China Pledges More Support for Covid-Hit Service Sector
China’s banking and insurance regulator said it would ramp up financial support for businesses in the service sector that had been hammered by Covid-19 outbreaks.
