BEIJING — Reports that Beijing’s already notorious smog contained bacteria with antibiotic-resistant genes spread through the city last week like pathogens in a pandemic disaster movie. “Drug-resistant bacteria make people very afraid,” The Beijing ……
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Beijing to quit coal mining by 2020
BEIJING: Beijing will close its last three coal mines in the next four years and entirely quit coal mining by 2020, ending an 800-year-old practice in a bid to curb alarming air pollution. China is…
China Mobile to Start 5G Tests in 2017
China Mobile has announced its plan of launching the trial run of 5G technology by 2017, rolling out around 10,000 5G base stations by 2020. The world’s largest mobile operator will choose four to five…
China Unicom Seeks New Life With 'BAT' Magic
Unicom is likely to choose all three of China’s Internet giants as equity and strategic partners under Beijing’s pilot program to invigorate big state-run companies. But none of the tie-ups will produce meaningful results. The…
China Takes Key Step Toward Reducing Banking System Risk
Last week, China (NYSEARCA:GXC), through its Banking Regulatory Commission (“CBRC”), has taken aim at reining in the risk in its financial sector through the regulatory targeting of off-balance-sheet activities. Given the organization’s current regulations ……
China banking regulator to tighten rules on lenders' derivative trading
SHANGHAI China’s banking regulator has drafted rules that will require lenders to tighten risk management in derivatives trading, a business the watchdog said has been expanding rapidly in recent years. Lenders must set up sound…
China's Central Bank Is Facing a Major New Headache
People’s Bank of China Governor Zhou Xiaochuan already has one policy headache with the currency falling to near an eight-year low. He could have an even bigger one next month. That’s when a $50,000 cap…
Small China Banks With $4 Trillion Assets Seen Too Big to Fail
Short-term borrowing costs surged for the riskiest lenders including rural commercial banks, which hold 29 trillion yuan ($4.2 trillion) of assets, 13.4 percent of the total amount in China’s banking system. Yet confidence in the…
China regulates banking cards to counter telecom fraud
BEIJING, Dec. 1 (Xinhua) — New rules regulating the application and use of bank cards took effect Thursday as China’s central bank decided to crack down on illegal practices. An individual can now only open…
China backflips on currency policy with controls to stem yuan’s outflow
China’s central bank will limit the amount of renminbi that Chinese companies can remit outside the country, imposing a cap for the first time in more than two decades to stem the yuan’s outflow amid…
China looks to clamp down on foreign investment spending
regulators are contemplating new measures that could include detailed scrutiny of purchases outside China and a temporary cap on overseas buying, set at $10-billion (U.S.) for foreign investments, $1-billion for assets outside a company’s core…
China Unicom (CHU) Catches Eye: Stock Moves 6.7% Higher
China Unicom (Hong Kong) Limited CHU was a big mover last session, as the company saw its shares rise nearly 7% on the day. The uptrend was driven by the news reports suggesting that the…
China's AliPay apologizes after soft porn floods its payment app
China’s answer to PayPal has apologized after a new social media feature on its payments app was hijacked by promoters of soft pornography. Alibaba (BABA, Tech30) affiliate Ant Financial launched Circles on its Alipay app…
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