Stocks in Chinese tutoring firms tumbled Monday after Beijing imposed new rules on companies to register as non-profit organisations, effectively wiping out business models in the multibillion-dollar …
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Tencent shares slide after Beijing crackdown on music rights
Shares in Tencent have fallen after China ordered the technology giant to end exclusive music licensing deals with record labels around the world. The move is aimed at tackling the company’s dominance …
Xi’an, the Home of the Terracotta Warriors, to Host China’s Largest Multi-sports Event
On July 27, the 50-day countdown began to the opening of the 14th National Games of China, which is the biggest national multi-sports event in China. Xi’an, as the main venue of the Games, is…
China tightens grips on local government hidden debt
SHANGHAI: China is stepping up restrictions on financing to local government financing vehicles (LGFVs) to mitigate risks from hidden debt, the …
China Development Bank issues 2.85 trillion yuan of loans in 2020
BEIJING – China Development Bank issued loans totaling 2.85 trillion yuan (about $440.46 billion) last year to facilitate epidemic control and economic growth. The policy bank extended 31.5 billion …
China’s foreign-currency bank deposits up $129.7B in H1
China’s bank deposits in foreign currencies increased by 129.7 billion U.S. dollars in the first half of this year, a senior official said on Friday. By the end of June, the balance of …
Stocks Eye Mixed Start as China Tempers U.S. Boost: Markets Wrap
Stocks are set for a mixed start Monday as traders weigh a U.S. rally spurred by corporate earnings, China’s technology-sector crackdown and an upcoming Federal Reserve meeting. The dollar was steady.
China Development Bank issues 2.85 trln yuan of loans in 2020
China Development Bank issued loans totaling 2.85 trillion yuan (about 440.46 billion U.S. dollars) last year to facilitate epidemic control and economic growth. The policy bank extended 31.5 billion …
Beijing’s hard line is good for business in Hong Kong
Washington and the now-defanged local opposition predict Hong Kong’s international financial status will suffer, or even be irreversibly lost, because of Beijing’s crackdown. Those who know something …
China, U.S. Boost Giorgio Armani Sales in First Half
The Italian designer expressed confidence in the resilience of his namesake company, which registered a 34 percent increase in sales in the first half of 2021, after a 2020 impacted by the COVID-19 …
Biz China Weekly: Rural resident income, fiscal revenue, LPR, FDI, non-financial ODI
China’s fiscal revenue saw a year-on-year increase of 21.8 percent in the first six months of 2021. According to data released by the Ministry of Finance, the country’s fiscal revenue exceeded 11.7 …
China Bans For-Profit School Tutoring in Sweeping Overhaul
China unveiled a sweeping overhaul of its $100 billion education tech sector, banning companies that teach the school curriculum from making profits, raising capital or going public.Beijing on …
Central bank encourages carbon market participation
China’s central bank is encouraging financial institutions to participate in the newly-established national carbon market, which will develop more derivatives for trading to achieve the country’s …
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