China has carried out a sustained, decade-long economic espionage operation to infiltrate the U.S. Federal Reserve, according to a report released Tuesday by the Republican staff of the Senate …
FINANCE
China’s mortgage boycott is escalating. Now Evergrande suppliers have stopped paying bank loans
The property crisis in China may have entered a dangerous phase as mortgage boycotts spread and banking corruption shakes confidence, with the shadow of COVID outbreaks and lockdowns also hanging over …
Taiwan’s military holds defense exercises amid tensions with China
Activity on the streets of Taipei ground to a halt as police ordered pedestrians to seek shelter indoors, shops shuttered their doors, and vehicles were forced to pull over.
China plans real estate fund worth up to $44 billion for distressed sector, source says
China will launch a real estate fund to help property developers resolve a crippling debt crisis, aiming for a warchest of up to 300 billion yuan ($44 billion) in a bid to restore confidence in…
China targeted the Fed for more than a decade, Senate report finds
Lawmakers accused the Chinese government of “malign efforts to target, influence and undermine the U.S. Federal Reserve” in a report released Tuesday.
Ant Group execs step down as Alibaba partners as China’s regulatory scrutiny pushes firms to seek distance
Ant Group is an affiliate of Alibaba in which the e-commerce giant owns 33%. But the fintech giant has been looking to distance itself since its halted IPO.
China’s economic inequality is worse than America’s. And the pandemic hasn’t helped.
Many living at the margins of China’s economy have suffered profoundly during the pandemic. At the same time, the rich have only gotten richer.
China’s BRI spending fell to $28.4 billion in first half of 2022
According to research published on July 24 by Shanghai-based Green Finance and Development Center (GFDC), multiple countries saw a 100 per cent drop in BRI engagement compared to H1 2021, such as …
LVMH Q2 sales climb 19%, offsetting slower China
Sales at LVMH, the world’s largest luxury group, rose by 19% in the three months to June, as robust growth in the U.S. and China helped it offset a new round of lockdowns in China.…
China’s palladium imports from Russia rise to a record high
The world’s biggest miner of the precious metal is rerouting shipments as many of its usual customers shun its goods following the invasion of Ukraine.
Former CEO of China Everbright’s financial arm under investigation by Communist Party’s anti-corruption body
Chen Shuang, who resigned as CEO of China Everbright Limited in 2019, is being investigated for ‘suspected violations of the law’ He is a justice of the peace, and a member of the Financial Services…
U.S. regulators won’t accept any restrictions on China audit access – sources
The U.S. public company accounting regulator will not accept any restrictions on its access to the audit papers of Chinese companies listed in New York, including where firms have been delisted, two …
Official explains why China CBDC should not be as anonymous as cash
Partial anonymity is an important feature of the digital yuan, but a completely anonymous CBDC would interfere with preventing crimes like money laundering and terrorism financing.
