China’s daily tally of Covid-19 cases rose to the highest level in more than seven weeks, as infections spread in some central, northwestern and southern provinces. The country reported 450 infections …
FINANCE
China to contribute $50m to World Bank’s pandemic fund
China intends to contribute $50 million to the financial intermediary fund which has been approved by the World Bank for Pandemic Prevention, Preparedness and Response (PPR), China’s Minister of …
China to Step up Implementation of ‘Prudent’ Monetary Policy-Central Bank Chief
China’s economy is facing downward pressure due to COVID-19 and external shocks, and the central bank will “increase implementation of prudent monetary policy” to support the real economy, China’s …
China Issues More Rules For Online Lending to Control Risks
China’s top banking regulator has issued more rules governing online lending by commercial banks and internet platforms as authorities ramp up efforts to control financial risks in the sector. The …
‘Too easy to borrow’: debt plagues young people despite China’s scrutiny of fintech microloans
As Beijing’s tough stance on online credit persuaded Big Tech firms to scale back their services, smaller platforms have proliferated, luring young consumers into borrowing for a lifestyle they can …
China’s GDP Growth Drops to 0.4% in Q2 2022, Plans for $1.1T Infrastructure Spending
China’s GDP increased by 0.4% from a year earlier, marking the worst performance since the first Covid outbreak.
5 unanswered questions about the Henan bank crisis
Customers at four rural banks in Henan province and one in neighbouring Anhui have been cut off from their savings since April, leading to protests and promises from authorities that some of the money …
China’s Central Bank Says 93% of Financial Institutions Are ‘Safe’ After Henan Scandal Erupts in Violence
China’s central bank has issued an assurance that despite a recent scandal of local lenders in Henan province freezing withdrawals, 93% of the more than 4,000 financial institutions it reviewed late …
Significant economic slowdown as China battles COVID
The economic slowdown in China means that the three major economic regions of … Speaking after a meeting this week with the Japanese finance minister Shunichi Suzuki, where the rapid fall of the yen …
China’s Finance Ministry Imposes Its First Cross-Border Administrative Penalty
Three years after authorities in Malaysia tipped off their Chinese counterparts about a financial fraud at the China unit of listed Malaysian company Lambo Group, China’s finance ministry imposed the …
China’s banking-crisis victims promised money, but outcry as ‘it doesn’t solve underlying problem’
Chinese authorities will start repaying some victims of one of the nation’s biggest ever financial scandals later this week after hundreds of savers took to the streets at the weekend in protest, but …
Commentary: Is China stumbling into its own mortgage crisis?
A rapidly spreading protest — borrowers refusing to make mortgage payments on unfinished homes — threatens to rattle the Chinese financial system, says Bloomberg’s Shuli Ren.
China’s growth slumps sharply after Covid lockdowns – economy shrinks 2.6% in second quarter, and experts warns officials could be hiding worst
It comes as the global economy faces a period of turmoil. The eurozone is in chaos and US experts fear for the global economy.
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