President Xi Jinping reaffirmed China’s commitment to his Belt and Road Initiative last week, but questions remain if such investment can be sustained amid a backdrop of rising debt at home. ( read original story…
Tagged By banking
Ping An’s Goal to Pivot from Finance Group to Tech Giant Now Is Threatened
The headwinds that toppled Ant Group Co.’s initial public offering now threaten a $22 billion dream of China’s Ping An Insurance (Group) Co. — to pivot … ( read original story …)
Troubled Baoshang Bank Approved to Begin Bankruptcy Procedures
China’s banking regulator has given Baoshang Bank Co. the nod to start bankruptcy proceedings, launching an unraveling process that has not been seen for at least two decades. ( read original story …)
China Vows to Investigate Bond-Market Misconduct
A body that groups together China’s central bank and other top financial regulators and that is chaired by Vice Premier Liu He issued the warning after a series of defaults by state-backed groups … (…
China plans incentives to boost population growth and address ageing society, state media reports
China reportedly considering financial and policy support in 2021-25 five-year plan to encourage couples to have more children. ( read original story …)
Beijing-based development bank AIIB to target healthcare in Asia
The Beijing-based Asian Infrastructure Investment Bank is setting … But the AIIB would initially co-finance healthcare and education projects and consider standalone projects in the longer term as … ( read original story …)
China Is Set to Eclipse America as World’s Biggest Oil Refiner
Earlier this month, Royal Dutch Shell Plc pulled the plug on its Convent refinery in Louisiana. Unlike many oil refineries shut in recent years, Convent was far from obsolete: it’s fairly big by U.S. (…
Michael Pettis Chimes in China’s Growth and Debt
Morgan Stanley and the IMF are too high says Michael Petts at China Financial Markets. Longer term, Pettis forsees a surge in debt. ( read original story …)
China lobby tells UK: Embrace Beijing or ‘suffer’ business backlash
The UK will lose billions of pounds in private sector investment if it does not reverse its growing hostility toward China, according to a pro-Beijing business lobby. The China Chamber of Commerce in … (…
China Evergrande Gets $4.6 Billion Lifeline from State Firms
Firms owned by the city governments of Shenzhen and Guangzhou will buy equity worth 30 billion yuan ($4.6 billion) from existing investors in Hengda Real Estate, a unit that holds Evergrande’s main … ( read…
China central bank officials see bigger global role for yuan as US dollar wanes
US dollar in the international monetary system expected to decline, two Chinese central bank officials said on the weekend. Ding Zhijie, head of a research centre at the State Administration of … ( read original…
China Vice Premier Liu He vows zero tolerance for misconduct after recent bond defaults
China will show “zero tolerance” for misconduct following a recent string of bond defaults, a meeting of the Financial Stability and Development Committee chaired by vice premier Liu He said. ( read original story …)
Debt assistance worth $2.1b given to poor nations, says finance minister
China has provided debt relief worth $2.1 billion to lower-income countries under the G20 framework, the highest among G20 members in terms of deferral amount, Finance Minister Liu Kun said on Friday. ( read original…
