China’s fiscal revenue dropped 1.2 percent year-on-year in the first two months of 2023, while its fiscal spending expanded 7 percent year-on-year, according to the Ministry of Finance. The ministry …
FINANCE
China’s Central Bank Warns SVB Failure Shows Impact of Rapid Global Rate Hikes State Media
Xuan Changneng, a deputy governor at the People’s Bank of China told the Global Asset Management Forum in Beijing that some financial institutions had grown accustomed to running their balance sheets …
China’s US debt holdings at lowest in over 12 years
As the second-biggest foreign holder of US debt, China’s holdings in US Treasury securities slid for six consecutive months to $859.4 billion as of the end of January, down from $867.1 billion in …
China fines Deloitte $31 mln for auditing negligence
for failing to perform its duty in assessing the asset quality of China Huarong Asset Management Co Ltd (2799.HK), the finance ministry said on its website on Friday. Deloitte’s Beijing operations …
China’s Jan-Feb land sales fall, adds pressure on local governments
China’s government land sales revenue slumped further in the first two months of the year, suggesting property developers remain cautious even after authorities stepped up support to help them weather …
Biden Family’s Alleged Financial Ties to China Compared to Trump’s
Trump’s financial ties to China have also been widely scrutinized for years, with reports showing the former president maintaining a bank account in China and the Chinese government granting …
China tightens ruling party control with two commissions
March 17 (UPI) –The Communist Party of China took another step to consolidate power by creating agencies to control finance and technology. The move comes as Chinese President Xi Jinping called for …
China’s finance ministry imposes penalty on China Huarong, Deloitte
BEIJING, March 17 (Xinhua) — China’s Ministry of Finance has imposed an administrative penalty on China Huarong Asset Management Co., Ltd. (China Huarong) and its auditor Deloitte for severe …
China suspends Deloitte’s Beijing office over Huarong audit ‘deficiencies’
China’s finance ministry has suspended operations at the Beijing arm of accounting firm Deloitte for three months after finding “deficiencies” in its auditing work for China Huarong Asset Management.
China Suspends Deloitte’s Beijing Unit and Fines It
China’s Finance Ministry has suspended the operations of Deloitte’s Beijing office for three months, citing “serious audit deficiencies” in the firm’s work with a big state-owned asset manager. The …
China makes surprise rate cut to boost banking liquidity and the economy
China’s central bank has made a surprise cut to the amount of money that banks must keep in reserve, in an effort to keep money flowing through the financial system and prop up the economy.…
China fines Deloitte, suspends Beijing operations for 3 months for auditing negligence
Deloitte is fined 211.9 million yuan ($30.8 million), the Ministry of Finance said in the statement …
China Suspends Deloitte’s Beijing Office Over Huarong Auditing
China suspended the operations of Deloitte & Touche LLP’s Beijing office for three months and fined the … a review and a hearing the Ministry of Finance found that Deloitte had “serious audit …
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