In a battle between those who love or hate China’s economic growth target, a compromise appears to have emerged: a goal low enough to be more easily ignored. ( read original story …)
Tagged By banking
China Traders Turn to Bank Stocks as Market Darlings Plunge
China’s most-shunned sector is getting a rare moment in the sun as investors seek shelter from a rout in the market’s darlings. ( read original story …)
Vice-premier describes Hong Kong electoral overhaul as a ‘battle’ against subversion during meeting in Beijing
Attendees at the meeting say Vice-Premier Han Zheng made a case for the necessity of the changes to avoid a repeat of the social unrest of 2019. ( read original story …)
Beijing 2022: European ski resorts bank on successful Winter Games to increase Chinese tourism arrivals
The Chinese winter sports industry has grown at an unparalleled rate since Beijing was awarded the 2022 Winter Games in 2015. ( read original story …)
China science: 7 sectors to get extra R&D funding, support as Beijing pushes for global leader status
Artificial intelligence and quantum information are among the seven key areas China has identified as priorities for development as it seeks to become a global leader in the scientific field by 2035. ( read original…
Watch: Bank of China’s Hu Beihei and OIN’s Venkatesh Hariharan to talk about banking model in China at ‘The Future of Banking’
China is a step ahead in the case of banking today. The country started exploring the possibility of digital currency in 2014. It is reported that the country is in an advanced stage in this…
China Vows Oversight of Fintech, Financial Holding Firms
China plans to step up oversight of financial holding companies and the nation’s booming fintech industry, Premier Li Keqiang said, setting the tone for closer scrutiny over the next five years of … ( read…
China boosts defense spending by 6.8% amid debt, pandemic
China is increasing its defense spending by 6.8% in 2021 as it works to maintain a robust upgrading of the armed forces despite high government debt and the impact of the coronavirus pandemic. ( read…
China GDP: Beijing sets moderate 2021 economic growth target as focus shifts to debt reduction
Chinese Premier Li Keqiang confirmed a gross domestic product (GDP) growth rate target of ‘above 6 per cent’ for this year during Friday’s National People’s Congress. ( read original story …)
China Sees Negative-Yielding Bonds in Burst of Friday Trading
Negative bond yields showed up in China on Friday. Three bonds of China Development Bank suddenly saw prices surge — one by more than 200% — within an hour to send the yields on the…
China tells banks to scale back lending to contain financial bubble risks – sources
China’s regulators are telling banks to trim their loan books this year to guard against risks emerging from bubbles in domestic financial markets, said people familiar with the matter on Friday. ( read original story…
China’s economy could double in size by 2035, according to the Bank of America
China could double its GDP by 2035 and become the world’s largest economy by overtaking the US by 2028, the Bank of America’s Helen Qiao told CNBC. ( read original story …)
China shares fall as parliamentary meeting sets conservative growth target
China shares ended a see-saw morning session lower on Friday as investors digested a modest annual growth target set in the premier’s annual work report and a stronger commitment to supporting … ( read original…
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