BEIJING (Reuters) – A senior official at China’s banking regulator is set to be named chairman of China Huarong Asset Management Co Ltd (2799.HK), replacing the former head who is under investigation for alleged corruption,…
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Senior bank regulatory official to be named China Huarong chairman: sources
HK stocks end higher as China’s RRR cut aids financial shares
April 18 (Reuters) – Hong Kong stocks rose on Wednesday, breaking a four-day losing streak, as China’s surprise cut in banks’ reserve requirement ratios buoyed financial shares. ** The Hang Seng index rose 0.7 percent,…
Asian development bank will help lure infrastructure cash to Canada: president
The Beijing-based multilateral development bank will bring a number of economic benefits to Canada and lift the international profile of the Trudeau government’s own $35-billion infrastructure bank among investors, Jin Liqun said in an interview.…
China central bank cuts reserve requirement by 100 bps for most banks
China’s central bank said on Tuesday it will cut the amount of cash most commercial and foreign banks must hold as reserves to pay back loans obtained via its medium term lending facility. The move…
Central bank moves to cut lenders’ funding costs
China’s central bank announced a cut in some financial institutions’ reserved cash amount by 1 percentage point from April 25 to support small and micro enterprises and stabilize liquidity in the banking system, according to…
China stocks open higher after surprise RRR cut
SHANGHAI, April 18 (Reuters) – China stocks opened about 1 percent higher, led by the financial sector, after the central bank said it would cut banks’ reserve requirements in a surprise move seen as supporting…
China cuts deposit reserve rate for first time in 26 months to unleash cash
China’s central bank announced on Tuesday that it would cut the amount of cash that most banks are required to hold in reserve – the first reduction since February 2016 – to release cash into…
Buick unveils electric concept car in China, where the brand is more popular than it is in the US
Buick unveiled an electric concept car Tuesday in China, which remains the brand’s biggest market, by far. The Buick Enspire is an all-electric sport utility vehicle that can drive zero to 60 mph in 4…
China to open auto market as trade tensions simmer
Germany’s BMW (BMWG.DE), which has a big stake in trade relations between Beijing and Washington as the biggest exporter of vehicles from the United States to China, welcomed the car decision. “We believe a more…
China currency moves hang in the balance in U.S. trade spat
(Reuters) – U.S. President Donald Trump’s latest complaint about China devaluing its currency is off base. But the yuan could potentially become a major sticking point in efforts to resolve the trade dispute between the…
Beijing Forges Ahead With ‘Made In China’ Policy, Targeted By Proposed U.S. Tariffs
After three rounds of tariffs and counter-tariffs, both actual and proposed, the U.S. and China appear deadlocked, with the possibility of a trade war still looming. China remains defiant in the face of U.S. threats,…
Report: China’s Silk Road Plan Serves Beijing Security Goals
HONG KONG — A new study says a massive Chinese infrastructure program that Beijing says is aimed at promoting global trade and economic growth is actually intended to expand the country’s political influence and military…
China to open up auto sector, even as it slaps new tariffs on animal feed
China announced plans Tuesday to allow full foreign ownership of automakers in five years, ending restrictions that helped to fuel its trade dispute with U.S. President Donald Trump as it promotes electric car development. The…
