China has become the second-largest contributor to the system of development banks.. Read more at straitstimes.com.
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China’s embattled Huarong secures US$6.5 billion investment
Chinese state-owned asset manager China Huarong Asset Management said on Wednesday it will receive fresh capital worth 42 billion yuan (US$6.59 billion) from a state consortium led by Citic Group as …
Alibaba Stock Slides After Q2 Revenue Miss As Beijing Crackdown Bites
Alibaba missed Street sales forecasts for the first time in two years last quarter as Beijing’s ongoing crackdown on the tech sector continues to bite.
Report shows China’s growing clout at World Bank, global institutions
With over $66 billion in total capital, China has passed Japan to become the second largest contributor to the system of development banks that provide some $200 billion in subsidized loans to poor …
People’s Bank of China: Reversal repurchase agreements worth USD7.8B
(MENAFN) On Thursday, Nov.16 People’s Bank of China used reversal repurchase agreements to infuse about USD7.8 billion further into banking industry. According to China’s central bank, the cost of …
China’s yuan could rise or fall in future, central bank body says
The Chinese yuan could either appreciate or depreciate in the future and two-way currency fluctuations will become normal, a central bank body said on Thursday.The yuan hit a near six-year high …
UPDATE 1-Chinese c.bank governor says still unclear if inflation pressure transitory
China’s central bank governor Yi Gang said on Thursday that global inflation has increased sharply and “whether this inflation pressure is transitory still remains under debate.” …
Allianz becomes China’s first JV-developed wholly foreign-owned life insurer
Leading brand for international independent financial advisers, wealth management professionals serving expatriate and cross-border clients worldwide.
China to introduce targeted re-lending for clean, efficient coal use
China will put in place targeted re-lending to support the clean and efficient use of coal amid efforts in green and low-carbon development, a State Council executive meeting chaired by Premier Li …
China’s Largest Bad-Debt Manager, Huarong, to Raise $6.5 Billion in State-Led Bailout
Citic Group will become the asset manager’s largest owner after the Finance Ministry when it issues shares to five institutions.
S&P says it believes China Evergrande default still ‘highly likely’
S&P Global Ratings said on Thursday a default is still “highly likely” for China Evergrande Group despite its recent bond coupon payments because it has a bigger test in March and April next year, …
Alibaba says profit falls 81% as China cracks down on big tech
Chinese e-commerce leader Alibaba Group said on Thursday that its profit for the most recent quarter tumbled 81 percent as it grappled with a government crackdown on the country’s big tech champions.
China’s yuan could rise or fall in future, c.bank body says
The Chinese yuan could either appreciate or depreciate in the future and two-way currency fluctuations will become normal, a central bank body said on Thursday. BEIJING, Nov 18 (Reuters) – The Chinese …