China has taken strong action against two European Union banks, in a move that signals rising tensions between Beijing and Brussels. The measures were announced by China’s Ministry of Commerce …
FINANCE
Profitability pressure grows for China’s state banks amid low rates, poor loan demand
All six state banks, including ICBC and China Construction Bank, report lower margins alongside small reductions in bad loans.
Don’t envy Nvidia CEO Jensen Huang—he’s hamstrung by Washington and Beijing
“Nvidia is squeezed between Washington and Beijing,” she says. “Washington has indicated, ‘Go forth and sell [Nividia’s] H20 chips,’ but Beijing seems to be pressuring domestic firms not to buy.” That …
China’s major lenders report weaker profit margins as rate cuts weigh
China’s major state-owned banks reported weaker first-half net interest margins amid lower interest rates as the world’s second largest economy grapples with deflation and global economic volatility.
China’s big banks warn of more margin pressure in the second half
China’s major state-owned banks have warned net interest margins will face increased pressure for the rest of the year as the world’s second-largest economy grapples with deflation and global economic …
Chinese banks face profit squeeze as loan growth falters
Top Chinese banks’ first-half results on Friday will underline the impact of slowing loan growth in a deflationary economy, a piling up of bad loans as defaults by small businesses and consumers rise, …
Chinese bank lending likely plunged in July as seasonal factors outweigh policy support
New bank loan issuance in China likely plunged in July from June, a Reuters poll showed on Thursday, weighed down by weak credit demand and seasonal factors even as the central bank keeps monetary …
China’s ‘big five’ banks pressured by consumer woes
Deflationary pressures have been weighing on China’s economy, with real wages at non-state-owned companies rising just 1.7 per cent in 2024, according to the latest official data available. A real …
China, Hong Kong stocks set for capital rush with 6 Fed rate cuts incoming: Lombard Odier
Funds worth US$7 trillion will shift into equities and bonds, with Thailand, Singapore and Hong Kong benefiting, Swiss private bank says.
Nvidia’s China-based rival posts 4,300% revenue jump as chipmakers’ earnings reported no H20 chip sales to the country
Cambricon, a China-based semiconductor firm, posted record profit in the first half of the year, along with revenue that surged roughly 4,300%. The earnings, released late Tuesday, serve as an example …
US warns China-linked groups may be laundering billions for Mexican cartels
Networks linked to China may have laundered some $300bn through US banks in the past five years, according to the US Treasury, warning institutions to be vigilant to the schemes that often benefit …
Nvidia earnings beat Wall Street’s sky-high expectations, but the stock fell because ‘there were no H20 sales to China-based customers’
Nvidia recorded no China sales revenue for H20 chips and reported revenue that narrowly beat Wall Street targets in the second quarter, as the AI chipmaker reported financial results on Wednesday. The …
China banks warn on using credit cards to fund stock trading as bubble fears grow
Chinese stocks added more than US$1 trillion in market value in August alone. Read more at straitstimes.com. Read more at straitstimes.com.
