China will maintain necessary support for economic recovery and implement targeted structural tax cuts and other measures to consolidate its growth momentum, the country’s top economic planner pledged …
Tagged By banking
China’s Ant explores ways for Jack Ma to exit as Beijing piles pressure
The company hoped Ma’s stake, worth billions of dollars, could be sold to existing investors in Ant or its e-commerce affiliate Alibaba Group Holding Ltd without involving any external entity, one of …
China’s digital yuan could be used by athletes and visitors at the Beijing Olympics
China is pushing forward with its experiment in creating a digital version of the yuan and may give foreign athletes and visitors a chance to use it at the 2022 Beijing Winter Olympics. Li Bo,…
The week in review: China, US join hands to tackle climate crisis, Citi to exit Mainland consumer banking, CBIRC calms market over Huarong worries
In this round-up, Beijing and Washington pledge to fight climate change together, Citi plans to set up onshore securities and futures companies as it ends consumer banking operations in 13 markets …
Citi Plans New China Investment Bank Within 18 Months
Citigroup Inc. is pushing ahead to set up new investment banking and trading operations in China after the lender announced it would be exiting retail banking in the world’s second-largest economy.
Yuan internationalisation goal ‘is not to replace US dollar’, top China banking official insists
China’s efforts to promote its digital currency as well as the internationalisation of the yuan had caused concerns it wanted to topple the US dollar as the world’s main reserve currency.
China must wean itself off coal to meet climate goal
China co-operation pledge on the environment has reaffirmed faith in Xi Jinping’s 2060 carbon neutrality target, but reducing the country’s reliance on coal remains a hurdle.
As Kerry secures climate pledge with China, here’s what else to watch for at Biden’s Earth Day summit
Climate change has been a key topic in President Joe Biden’s first 100 days in office and now the administration looks to reclaim a leadership position …
Central bank to double down on green finance
BEIJING: China’s central bank will take a slew of measures to improve its support for green finance, according to Yi Gang, governor of the People’s Bank of China (PBoC).
China NDRC Approves 16 Fixed-Asset Investment Projects Worth $6.96 Billion in Q1
China’s state planner said on Monday that it approved 16 fixed-asset investment projects worth a total of 45.4 billion yuan ($6.96 billion) in the first quarter of this year. The projects are mainly …
China facing economic crisis as population peak nears, PBOC adviser says
Consumption set to slump after population tops out in 2025, says Cai Fang, a member of the central bank’s monetary policy committee.
Analysis-China’s green car credit scheme turns up heat on carbon-emitters
A policy shift by China’s government is ratcheting up pressure on automakers to hasten development of green vehicles or pay rivals such as Tesla Inc and Chinese startups for green credits. Regulators …
China to expand digital yuan experiments: Central bank vice governor
China is one of the frontrunners in the global race to launch central bank digital currencies to modernise financial systems, ward off the threat from cryptocurrencies like bitcoin and speed up …
