But while Beijing is cautiously optimistic that a Biden presidency will be more manageable, Trump will be missed – for reasons ironic and sincere. ( read original story …)
Tagged By banking
China Ex-Finance Minister Says It’s Time to Consider Exiting Stimulus, Caixin Reports
China’s ex-finance minister said it’s time to consider withdrawing the monetary stimulus injected into the economy this year and fine-tune fiscal policies as the recovery strengthens, according to a … ( read original story …)
China-Africa relations: Beijing says it will help pay for world’s largest free-trade zone
Beijing will provide ‘cash assistance and capacity-building training’ for the African Continental Free-Trade Area, Chinese Foreign Minister Wang Yi says. ( read original story …)
China corporate debt defaults trigger concerns of broader crisis
Nov 2020 A Chinese mining firm that defaulted on its debts this week held an emergency creditors’ meeting on Friday to address potentially “huge credit risks”, as a series of defaults by top-rated … (…
China overnight borrowing rates rise as traders see c.bank stimulus exit
Rising overnight borrowing rates in China’s interbank market this week reflect tightening cash conditions as the quickly recovering economy gives the central bank room for a more flexible approach to … ( read original story…
China’s banking/insurance regulator to ban insurers from property investments
China will ban insurers from making equity investments into companies directly engaging in real estate development or sales businesses, the country’s banking and insurance watchdog said on Friday. The … ( read original story …)
Former China finance minister says trade frictions with U.S. could remain under Biden
Trade frictions between the United States and China may not ease in the near term even if Joe Biden becomes president of the United States, former Chinese finance minister Lou Jiwei said on Friday. (…
Stress in China’s Credit Market Spills Over to Financial Stocks
The default of a Chinese coal miner has triggered mounting concern over the health of state-owned firms and their lenders. ( read original story …)
Former China Finance Minister Says U.S.-China Frictions May Not Ease Even With Biden as President
Trade frictions between the United States and China may not ease in the near term even if Joe Biden is president of the United States, former Chinese finance minister Lou Jiwei said on Friday. Lou,…
China’s bank lending falls in October
China’s bank lending decreased in October after rising in the previous two months on the back of seasonal factors and lower government bond issuances, data from the People’s Bank of China, the central … (…
China unlikely to dilute fiscal stimulus package, say finance ministry officials
Policymakers are unlikely to make any changes to China’s existing fiscal stimulus package next year, but may focus on additional steps to bolster economic recovery, especially to improve people’s … ( read original story …)
China Says Hopes for IMF Consensus on New SDR Allocation
Zhongxia Jin, China’s executive director at the IMF, told an online event he hoped Washington’s opposition to a new SDR allocation would be overcome as many low-income countries’ liquidity problems … ( read original story…
UPDATE 2-China Oct bank loans fall more than expected but broader credit growth quickens
Oct new loans 689.8 bln yuan vs f’cast 800 bln yuan * Oct M2 money supply +10.5% y/y, vs f’cast of +10.9% * Oct outstanding TSF growth quickens to 13.7% from 13.5% in Sept BEIJING,…
