China plans to strengthen oversight of its $60 trillion financial system by setting up an enlarged national regulator while streamlining operation at its central bank.
FINANCE
China’s ‘two sessions’ 2023: Xi Jinping directly accuses US of leading Western suppression of China
In rare singling out of Washington, Chinese president says America brings his country ‘unprecedented severe challenges to the country’s development’ A key agenda for the ongoing parliamentary sessions …
Mobius’s Bank Headache Highlights Scrutiny on China Outflows
Emerging markets investor Mark Mobius is discovering what many residents of China have known for months or even years: It has becoming increasingly difficult to transfer money out of the country.
Crisis-Hit Lanka Says China To Restructure Loans For Securing IMF Bailout
China’s Exim bank “sent a letter to the IMF” on Monday night expressing Beijing’s willingness to “restructure” credit to Sri Lanka, Ranil Wickremesinghe told parliament. (Except for the headline, this …
China May Face Financial Crisis With Cities Under Trillions Of Debt Following Zero-Covid Policy: WSJ
China’s Ministry of Finance warned local authorities that the central government would not bail them out for their accumulated liabilities.
As parliament meets, China keeps would-be protesters at bay
Jack Zhang, one of thousands of people who lost access to their savings last year in a rural bank scandal, recently tried to go to Beijing to lodge a complaint with the national public complaints…
How Local Financing Is Adding to China’s Risky Debt
Cracks are showing in a pillar of China’s debt market: local government financing vehicles (LGFVs). They were created to fund such things as municipal infrastructure and, because they rarely generate …
China Sets Lowest Economic Growth Target in Three Decades
China’s 2023 economic growth forecast, its lowest in three decades, erodes optimism sparked by the economy’s reopening from pandemic restrictions.
China Sets Low Economic Growth Target, But Increases Military Spending: What You Need To Know
China has set a target of approximately 5% economic growth in 2023, its lowest target in over 30 years while increasing its defense budget. What Happened: President Xi Jinping is seeking to restore …
After 2020, 2022 Second-Worst Year For China’s Economy Since 1970s: Report
The Chinese Communist Party’s (CCP) two sessions of top political meeting started on Saturday, March 4, and are expected to last for two weeks. The regime has set its 2023 gross domestic product (GDP) …
China’s two new targets: Lower GDP and increased military spending
The Chinese Communist Party’s (CCP) two sessions of the top political meeting started on Saturday, March 4, and are expected to last for two weeks. The regime has set its 2023 gross domestic product …
China’s FX Regulator Says No Change in Policy on Cross-Border Remittances
BEIJING (Reuters) – China’s foreign exchange regulator said on Monday that … adding that it will guide and urge commercial banks to optimise cross-border financial services and improve service …
UBS Rejigs Asia Technology Banking Team as China Deals Slump
UBS Group AG reshuffled its telecommunication, media and technology investment banking team in Asia-Pacific, naming new heads to replace a China veteran as dealmaking in the world’s second-largest …
