Lintao Zhang//Getty Images News/iStock This punitive response from China’s securities regulator comes shortly after Beijing issued warnings against financial malpractices amid a housing-market …
Tagged By banking
Another nail in the China Evergrande coffin: A $78 bn financial fraud | What’s happening?
The China Securities Regulatory Commission (CSRC) has said that China Evergrande inflated revenues by $78 billion in the two years leading up to its debt default …
Evergrande: China property giant and its founder accused of $78bn fraud
Chinese property giant Evergrande and its founder, Hui Ka Yan, have been accused of inflating revenues by $78bn (£61.6bn) in the two years before the firm defaulted on its debt. The country’s …
China is on pace to buy a record amount of Russian oil this month
China is expected to import 1.7 million barrels of Russian crude a day, taking over Indian demand, Kpler data cited by Bloomberg shows.
China sets higher bar for consumer finance companies
BEIJING, March 18 (Reuters) – China’s rules overseeing consumer finance firms have been amended for the first time in a decade, setting a higher bar for non-bank financial businesses providing small …
China international flights are finally starting to bounce back, buoyed by easing of border controls and need to elevate economy
Beijing has relaxed visa rules to attract more visitors in recent months, in line with intentions to stimulate a national economy beset by a property crunch, employment hurdles and hesitant consumer …
China protests Taiwan minister’s role at Seoul summit backed by U.S.
SEOUL, March 18 (Reuters) – China rebuked South Korea on Monday for Taiwan’s participation in a U.S.-backed democracy summit in Seoul, where the island’s Digital Minister Audrey Tang delivered an …
West decries Putin’s landslide election win, China congratulates him
Putin wins 87% of vote in weekend election, says Kremlin Western governments say election was rigged, undemocratic Condemn holding of election in occupied Ukraine regions China, North Korea …
Property investment in China dips 9% year-on-year in Jan-Feb 2024
Property investment in China fell 9.0% year-on-year in the first two months of 2024, compared with a 24.0% fall in December 2023, National Bureau of Statistics (NBS) data showed.
China’s property slump dampens upbeat economic data
STORY: Chinese officials announced upbeat numbers on the economy on Monday. Though the sagging property sector remains a drag on data as well as wider confidence about the country’s recovery. The …
Bang & Olufsen Cuts Guidance on Sluggish European Markets, Slow China Recovery
Bang & Olufsen warned that revenue and earnings for the fiscal year to May 31 would fall short of previous guidance due to a sluggish recovery in key European markets and the lack of a…
Tata Steel stock jumps over 4% amid heavy volumes, as China industrial output growth lifts metals
Tata Steel’s share price jumped nearly 5 percent on March 18 amid heavy volumes and multiple large deals, buoyed by China’s robust industrial output growth. At 12.20 pm Tata Steel stock was at Rs …
Morning Bid: Some China Cheer as Central Banks Enter the Starting Gates
Not so hot was a 9% y/y drop in Chinese property investment, the country’s Achilles heel and another argument for the People’s Bank of China to lower loan rates on Wednesday. It’s a packed week…
