SHANGHAI (Reuters) – China’s banking regulator has fined a Beijing branch of China Minsheng Banking Corp (1988.HK) 27.5 million yuan ($4.16 million) for selling fake wealth management products, according to a notice posted on its…
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Regulator fines China Minsheng Banking $4.2 million for fake wealth product sales
Regulator fines China Minsheng Banking $4.2 mln for fake wealth product sales
SHANGHAI, Dec 1 (Reuters) – China’s banking regulator has fined a Beijing branch of China Minsheng Banking Corp 27.5 million yuan ($4.16 million) for selling fake wealth management products, according to a notice posted on…
China central bank skips open market operations on sufficient liquidity
China’s central bank suspended open market operations Friday, citing sufficient liquidity in the banking system. The move meant a net cash withdrawal of 40 billion yuan (6.05 billion U.S. dollars) from the market as previous…
China busts underground bank used to funnel $3 billion out of the country
BEIJING—The money came from all over China — its wealthy southern and eastern coasts as well as the arid northwest — as thousands of people scrambled to circumvent the country’s strict controls on wealth. In…
China’s debt crackdown hits cash loan firms
China has long been known as a nation of savers, but consumers are rapidly embracing debt from non-bank online platforms. And the numbers of those taking out cash loans from the lenders is growing at…
China Mobile Launches RCS Nationwide
China Mobile has announced that it is the first Chinese operator to commercially launch RCS services to subscribers across the country from 1st December with the aim of enhancing the communications capabilities of its subscribers.…
Beijing restaurant sells its final North Korean beer as sanctions take hold
BEIJING — “This is the empty bottle of my last North Korean beer. I sold it last night,” Cui Chengri lamented, speaking from his empty Beijing restaurant. “I need re-supply by tonight but I don’t…
Beauty contest: China make-up brands rein in South Korea rivals
SEOUL/SHANGHAI, Dec 1(Reuters) – As a diplomatic spat between Beijing and Seoul raged this year, many South Koreans felt decidedly unwelcome in China. South Korean businesses were shunned, K-pop concerts were canceled and tourist trade…
GM venture to recall nearly a million vehicles in China: quality watchdog
BEIJING (Reuters) – One of General Motors Co’s (NYSE:GM – News) China ventures will recall nearly a million vehicles due to fuel tank problems, the country’s quality watchdog said on Friday, the latest in a…
Myanmar’s Suu Kyi visits China as crackdown criticism grows
BEIJING — Myanmar civilian leader Aung San Suu Kyi was set to meet President Xi Jinping on a visit to friendly neighbour China starting Friday as international criticism over her country’s persecution of Rohingya Muslims…
Asian manufacturing expands further, but China remains a risk
601005.SS – News) have jolted markets, pushing government bond yields to three year highs and causing a sharp drop in stock prices. China’s ability to implement these reforms without causing too much damage to growth,…
China pushing to create anti-corruption agency that can act above the law and lock up officials for months
BEIJING — China’s leader, Xi Jinping, is pushing to establish a new anti-corruption agency with sweeping powers to sidestep the courts and lock up anyone on the government payroll for months without access to a…
New China Is All about Technology
VAN ECK: Coming into the year we talked about Old China. There had been a tremendous growth in capacity for steel and all other sorts of basic industries in Old China. This was causing a…
