China is making 7.2 trillion yuan ($1.1 trillion) in funds available for infrastructure spending, a decisive shift away from a focus on controlling debt toward supporting a lockdown-ravaged …
FINANCE
China June fiscal revenues rise 5.3% y/y, excluding VAT credit rebates
China’s fiscal revenues rose 5.3 per cent in June from a year earlier, after excluding the impact from VAT credit rebates, the finance ministry said on Thursday.For the first half of the year, fiscal …
Banking Waves: China to Release Frozen Bank Funds After Rural Protests
The bank protests have come amid a broader slowdown in the Chinese economy, which is estimated to have grown by an anemic one percent during the second quarter of 2022.
China’s Henan bank scandal not just a financial crisis, it may be a lasting political calamity: analysts
China’s central government must find ways to promptly repay the depositors or risk the effects of damaged public confidence, say scholars Depositors’ lost US$6 billion is reminder to authorities that …
China’s central bank to step up policy support for economy, debt level to rise
China will step up policy support for the economy, central bank officials said on Wednesday, adding that the overall level of debt was expected to rise amid efforts to revive the slowing economy.The …
China poised to add to global growth momentum, financial giants say
Amid various headwinds around the world, China will gradually recover from its recent challenges and stand out to add to global growth momentum over the next three to six months, foreign-invested …
How China’s Henan bank scandal threatens a ‘crisis of confidence’ in nation’s financial system
Financial activities that are abhorred by the public’ will be identified and stamped out, China’s central bank vows as Henan banking scandal threatens to snowball and affect the nation’s entire …
China’s foreign trade up nearly 15% in June
BEIJING: China’s foreign trade grew by double digits to 14.3 percent in June, official figures showed on Wednesday, a clear indicator that the world’s second-largest economy is gradually recovering …
Morningstar cuts ‘several’ hundreds of China jobs, moves ops elsewhere
U.S.-based Morningstar has cut or relocated several hundreds of jobs at its China hub Shenzhen, and is moving operations to other countries, it said on Wednesday, as global firms struggle to comply …
Finance Ministry handles first cross-border case
China’s Ministry of Finance said on Wednesday it has issued a cross-border regulation administrative penalty for the first time. The MOF issued a notice saying it has investigated and handled a …
China issues first administrative penalty for cross-border accounting audit supervision
China’s Ministry of Finance issued an administrative penalty for cross-border accounting audit supervision for the first time on Wednesday, with a China-based subsidiary of a Malaysian-listed company …
China’s central bank offers full-throated rebuttal to West hype of rural banks
The headquarters of the People’s Bank of China in Beijing Photo: IC. The vast majority of small and medium-sized banks in China remain within safe limits in terms of central bank …
Authorities in China violently clamp down on bank customers protesting & demanding deposits back
More than 1,000 customers of Chinese banks were violently dispersed after they gathered in front of the People’s Bank of China building in the city of Zhengzhou, the provincial capital of Henan, as …
