Prominent economist Liu Xiaochun says China should consider establishing a digital settlement and remittance mechanism as an alternative to the US dollar-dominated SWIFT system. ( read original story …)
Tagged By banking
Ant Group Is Moving Quickly to Comply With Regulations, China’s Central Bank Says
Ant is working expediently to rectify its business practices and comply with regulatory requirements, a top Chinese central bank official. ( read original story …)
Ant Group kicks off the overhaul of its fintech operations under the watchful eyes of China’s central bank and financial regulators
The update on Ant Group’s ongoing reorganisation offers the first glimpse of the Chinese government’s stance on a company that powers more than half of all electronic payments in the country, since … ( read…
Analysis: Investors resigned to Trump’s China ban, with Biden seen changing little
Financial executives are settling in for the long haul over the Trump administration’s investment ban on Chinese securities, expecting the rules to be lasting but hoping to have more clarity after … ( read original…
A Year On, China Falls Short on Trade-Deal Targets
China’s purchases of U.S. goods are behind schedule, although some see progress in its opening of markets to U.S. companies. ( read original story …)
Ant is working on timetable for overhaul: Chinese central bank
China’s central bank said Ant Group Co. is working on a timetable to overhaul its business while ensuring operations continue, offering little clue on how far the financial technology giant needs to … ( read…
HBL’s Beijing branch to start operations in February
Beijing branch is expected to commence its operation and offer a full range of products and services in February this year, an official of the branch said on Thursday. Its head office will allocate to…
China bans banks from selling deposit products on third-party internet platforms
China’s banking and insurance regulator on Friday banned commercial banks from using third-party internet platforms to sell deposit products, including those relating to fixed-term deposits. The move … ( read original story …)
China Central Bank Says Ant Is Working on Timetable for Overhaul
China’s central bank said Ant Group Co. is working on a timetable to overhaul its business while ensuring operations continue, offering little clue on how far the financial technology giant needs to … ( read…
China’s current interest rate levels appropriate -c.bank official
China’s current interest rate levels are appropriate, Sun Guofeng, the head of the central bank’s monetary policy department, told a news conference on Friday. ( read original story …)
China Says Firmly Opposes New U.S. Sanctions
China firmly opposes new sanctions by the United States on its officials and companies over accusations of misdeeds in the disputed South China Sea, as well as an investment ban on nine more of its…
US development bank strikes deal to help Ecuador pay China loans
The US International Development Finance Corporation has struck a deal that will help Ecuador repay billions of dollars in loans to China and boost development in exchange for excluding Chinese … ( read original story…
A Year After Covid Began, China’s Economy Is Beating World
China’s economic ascent is accelerating barely a year after its first coronavirus lockdowns, as its success in controlling Covid-19 allows it to boost its share of global trade and investment. ( read original story …)
