BEIJING – As a friendly neighbor, China has been paying close attention to difficulties and challenges Sri Lanka faces and, whenever possible, has always provided support to Sri Lanka’s socioeconomic …
FINANCE
It’s in China’s interest to restructure Sri Lanka’s debt: Yellen
Amid the ongoing financial crisis in island nation US Treasury Secretary Janet Yellen has said that China is a very important creditor of Sri Lanka and it wo …
China urges banks to tighten screws on Internet loans
A man rides an electric bike past the China Banking and Insurance Regulatory Commission (CBIRC) building in Beijing, China February 14, 2019. Picture taken February 14, 2019. REUTERS/Stringer ATTENTI …
Didi’s digital payments unit fined by China’s central bank
BEIJING, July 15 (Reuters) – Didi’s digital payments unit was fined 4.27 million yuan ($632,170) on Friday by China’s central bank for a dozen rule violations, amid an effort by the ride-hailing …
Aluminum Prices: Is China Turning On The Stimulus Taps?
However, a Financial Times Unhedged post quotes Bloomberg’s report that China’s Ministry of Finance is considering allowing local governments to sell Rmb1.5tn ($220bn) of special bonds in the …
Beijing’s Assurances On Mortgage Protests Fail To Convince Investors
Shares in Chinese property developers extended losses, even after the banking watchdog vowed to strengthen coordination with other regulators to “guarantee the delivery of homes” and at least 10 banks …
Bank customers protested in Henan, China. Who attacked them?
Research on “contractors for hire” explains the extraordinary attempt to disperse angry crowds who wanted local banks to return their deposits.
China central bank keeps medium-term policy rate unchanged for a sixth month
China’s central bank stood pat on its medium-term policy rate for a sixth straight month on Friday, as expected, with investors believing that the bank intends to gradually normalise monetary policy …
FTSE 100 Live: China GDP reveals Covid impact, more US bank earnings
China’s Covid lockdowns slowed the country’s GDP growth to 0.4% in the second quarter, weaker-than-expected figures revealed today. Asian markets were mixed on the back of the China updates, while …
Why Are People Across China Refusing to Pay Their Mortgages? What to Know So Far
Property prices have plunged and a domino line of developers have defaulted on their bonds. China’s financial system is sitting on 46 trillion yuan ($6.8 trillion) of outstanding mortgages and still …
Homebuyers in China are refusing to keep paying mortgages for unfinished apartments, adding to the cash crunch in the sector that could spread globally
Buyer sentiment has also slumped in China as movement restrictions drag on. The situation is so dire that some developers have even started accepting crops for down-payments. Developers use mortgage …
China: on the road to recovery but uncertainty on lockdowns persists
Slow GDP growth in the second quarter shows that fiscal stimulus helped to avoid an economic contraction. What does the future hold for China’s …
China’s property, banking pain has iron ore in a bear squeeze
COVID-19 is slowing China’s economy and sparking crises in its property sector, weighing on iron ore prices just as the big miners see costs rise.
