U.S. officials this week offered their most full-throated endorsement yet of a digital dollar. Meanwhile, China has accelerated efforts for a digital currency. ( read original story …)
Tagged By banking
How Will Kyrgyzstan Repay Its Huge Debts To China?
Faced with a struggling economy and few financial lifelines, Kyrgyzstan is feeling the weight of its swelling state debt — a significant proportion of which is owed to China — and considering some … (…
Why the EU-China investment deal is no free pass for Beijing
US sanctions earned it special access to the Chinese market while disadvantaging European competitors. This levels the playing field.’ … ( read original story …)
Master con woman who scammed Beijing’s high society
A remarkable Chinese con woman is jailed for life after scamming £6 million from a glittering array of Olympic gold medallists, television stars and other celebrities … ( read original story …)
Bulk of China’s tightened belt and road energy finance goes to Africa
The study said US$192.5 billion, or 78 per cent, of CDB and Exim Bank of China total overseas energy finance had been directed to belt and road countries. It also noted that finan … (…
China’s defense budget to continue to rise in 2021, buttressed by economic upturn, strong fiscal foundation: experts
Despite the impact of COVID-19 over the past year, many Chinese military analysts and observers believe that the country’s defense budget for 2021 will continue to increase, likely at a higher growth … ( read…
China Bank profits up 20% despite pandemic
China Banking Corporation (China Bank) reported a 20 percent growth in net income to P12.1 billion despite the challenges posed by the pandemic last year. In a disclosure to the Philippine Stock … ( read…
China Bank income jumps 20% in 2020
China Banking Corp. earned 20 percent more in 2020 as its asset base breached the P1-trillion level despite the uncertainties brought about by the COVID-19 pandemic. In a statement, China Bank … ( read original…
What does US bond ‘taper tantrum’ mean for China’s financial markets?
A sell-off in the US Treasury bond market this week caused declines in global markets, evoking memories of a collective reactionary panic and highlighting China’s vulnerabilities to shifts in capital … ( read original story…
ICBC Names Chief Risk Officer Liao Lin as New President of World’s Biggest Bank
Industrial and Commercial Bank of China, the world’s largest lender, said yesterday that it has promoted Liao Lin, chief risk officer and senior executive vice president, to the position of president. ( read original story…
China Bank 2020 net profit up 19.8% led by net interest income
China Banking Corp. said it booked a 19.8% increase in net profit in 2020, with the low-interest environment driving solid growth in net interest income by reducing the payout to depositors, and with … (…
China policy and markets round-up: Beijing hones in on green finance, southbound Bond Connect to launch before year-end, BOC, ICBC name new presidents
In this round-up, the State Council calls for more efforts in the development of green finance in China, regulators plan to kick off southbound trading under Bond Connect by the end of 2021, and large…
China Bank bucks pandemic downturn, posts double-digit profit growth
Sy family-led China Banking Corp. bucked the downturn in corporate earnings caused by the COVID-19 pandemic in 2020, posting a double-digit growth in profits while hitting the … ( read original story …)
