Financial group led by Alibaba CEO is set to turn itself into a financial holding company overseen by China’s central bank. ( read original story …)
Tagged By banking
The Asian Infrastructure Investment Bank’s new mission
AIIB has been around five years but is aiming to expand its business after pivoting to address COVID-19. Here’s how the president defines its mission and the goals set to get there. ( read original…
Hong Kong asks departing finance executives to explain themselves
Fund managers and bankers leaving Hong Kong for alternative financial centres have been asked to explain their decision to a range of government agencies amid concerns that Beijing’s national security … ( read original story…
China central bank will back growth, watch debt risks, governor says
China’s monetary policy will continue to support economic growth and the central bank will watch debt and non-performing loan risks, central bank Governor Yi Gang said on Tuesday. ( read original story …)
China’s central bank conducts 180 billion yuan of reverse repos
China central bank on Wednesday conducted 180 billion yuan about 278 billion US dollars of reverse repos to maintain reasonabl … ( read original story …)
China money rates hit 21-month high on holiday demand, policy tightening worries
China’s short-term money rates extended rallies to over 21-month highs on Wednesday as investors worried that policymakers may be starting to shift to a tighter stance to cool gains in share prices … ( read…
China’s central bank chief struggles to answer question on Ant Financial IPO
Yi Gang, the veteran central bank chief of the People’s Bank of China, is no stranger to challenging questions. But when asked by the editor of the … ( read original story …)
China’s GDP growth targets should be scrapped to help put cap on local government debt, top central bank adviser says
Local governments in China are under pressure to meet unrealistic economic growth goals, and small banks are seeing their asset quality declining as the default risk of their borrowers grows. ( read original story …)
China state-owned firms’ Dec profits rise 13.8% y/y – finance ministry
The profits of China’s state-owned firms rose 13.8% year on year in December, according to a notice from the Ministry of Finance. ( read original story …)
China Central Bank Will Back Growth and Watch Debt Risks, Says Governor
China’s monetary policy will continue to support economic growth and the central bank will watch debt and non-performing loan risks, central bank governor Yi Gang said on Tuesday. Speaking at a … ( read original…
China shares end lower amid speculation of policy tightening
China’s blue-chip stock index fell on Tuesday, marking its biggest daily loss since September after touching a 13-year high in the previous session, amid tightening liquidity conditions and Sino-U.S. ( read original story …)
Securities investments between US and China reach US$3.3 trillion in 2020, says report
Recent policy headwinds can hinder future growth in securities investments between the US and China, said a New York-based consultancy. ( read original story …)
UPDATE 1-China’s short-term money rates jump to pre-COVID levels on tighter cash conditions
COVID 19 levels on Tuesday, pressured by the combination of the central bank’s extended net drain of cash from the financial system and higher holiday demand. ( read original story …)
