China’s central bank will scale back support for the economy in 2021 and cool credit growth, but fears of derailing a recovery from a pandemic-induced slump and debt defaults are likely to prevent it ……
Tagged By banking
Ant and Tencent halt bank deposit shopping as Beijing cracks down
China’s leading fintech companies such as Alibaba Group Holding affiliate Ant Group have removed smartphone app features that allow users to shop around for bank deposits that offer high rates, as … ( read original…
China c.bank will step up financial support for key sectors, weak links in the economy
BEIJING, Dec 21 (Reuters) – China will step up financial support for key sectors and weak links in the economy, the People’s Bank of China said on Monday. China will appropriately extend policies to ……
Ant and Tencent take down bank deposit app as Beijing cracks down
China’s leading fintech companies such as Alibaba Group Holding affiliate Ant Group have removed smartphone apps that allow users to shop around for bank deposits that offer high rates, as concerns … ( read original…
China’s central bank to issue 10b yuan of bills in Hong Kong
BEIJING — China’s central bank plans to issue 10 billion yuan (about $1.53 billion) worth of bills in Hong Kong on Wednesday. Dutch bidding will be adopted as the tender mode for the fixed-rate bill,…
China central bank dismisses criticism of its financial regulation, urges ‘realistic’ appraisal of environment
China’s central bank has hit back at criticism of its regulatory failures by outspoken former finance minister Lou Jiwei over the weekend. ( read original story …)
U.S. soft power agency created to counter China pledges $2 billion in renewable energy push
A taxpayer-funded agency called the U.S. International Development Finance Corporation (DFC) is committing up to $2 billion to address energy scarcity across the world, according to a new Memorandum … ( read original story …)
US law targeting Chinese firms on American exchanges could trigger delistings and hurt investors, finance professor says
The bill signed into law by US President Donald Trump on Friday will remove Chinese firms from American exchanges if they fail to comply with US accounting standards. ( read original story …)
China criticizes US corporate auditing penalties
China’s government on Monday called on Washington not to enforce a measure that might expel Chinese companies from U.S. stock exchanges if they fail American government … ( read original story …)
China’s central bank injects 110 bln yuan into market
China’s central bank on Monday conducted 110 billion yuan (about 16.79 billion U.S. dollars) of reverse repos to maintain stable liquidity in the banking system. The amount included 10 billion yuan of … ( read…
In unusual year, fintech thrives in China
BEIJING－The long queues at automated teller machines have become a rare sight as people in China are already accustomed to going out with mobile phones instead of wallets, and many can’t even remember … (…
Canada will hurt itself if it pulls out of Asian infrastructure bank, president says
The Asian Infrastructure Investment Bank plays a useful role in burnishing China’s image, its president acknowledges, even as he warns that Canada would hurt itself by leaving an international … ( read original story …)
China can lead, and Japan and South Korea can follow, in cutting coal finance in Southeast Asia
The world’s three biggest public financiers of coal can target Southeast Asia’s renewable energy market, worth up to US$205 billion over the next 10 years. China can show by example that climate … ( read…
