China is set to overtake the US as the global hub for billionaires, according to a new report from UBS and PwC. China now has the highest concentration of billionaires outside the US, according to…
Tagged By banking
China central bank affirms stable yuan, warns against speculators
BEIJING (Reuters) – China will be able keep its yuan currency basically stable due to the country’s healthy economic fundamentals and ample foreign exchange reserves, Pan Gongsheng, a vice governor at … ( read original…
Questioning of UBS financier in China rattles private banking
Asia’s fast-growing private banking sector has been shaken by the news that a UBS banker visiting China has been told by the authorities not to leave the country, casting a shadow over the opportunity ……
Bank of Canada: U.S.-China trade tension could have major impact
OTTAWA, Oct 24 (Reuters) – Increasing trade tensions between the U.S. and China, and tariffs imposed by both countries, could become an major drag on global economic growth, the Bank of Canada … ( read…
Japan Banks, China Investment to Set Up $1.8 Billion Trade Fund
(Bloomberg) — Japan’s biggest banks and brokerages agreed to set up a $1.8 billion fund with China’s state-run investment group to help companies enhance trade between the nations. The fund with Chin… ( read original…
China Warns of Financial Asset Mismanagement After Initial Tally
(Bloomberg) — China’s finance ministry has warned the country’s state-owned financial assets need further protection from mismanagement, following the release of new data on the size of their balance … ( read original story …)
China’s $35 Trillion Problem: Managing Financial Assets Is Hard
(Bloomberg) — China’s finance ministry has warned the country’s state-owned financial assets need further protection from mismanagement, following the release of new data on the size of their balance … ( read original story …)
Rising air pollution: Lessons Delhi can learn from Chinese capital Beijing
Delhi faces the same challenge as Beijing did—what we lack is political willingness and public anger to force the govt to take hard action. Not long ago, Delhi and Beijing competed with each other for…
Ford appoints new China chief to tackle sales slump
BEIJING/SHANGHAI (Reuters) – Ford Motor Co (NYSE:F – News) has appointed a new head of China operations to help turn around flagging sales in the world’s largest auto market, filling a post that had b……
Hedge fund manager Kyle Bass: Dire financial straits in China give Trump major leverage on trade
China is facing its “worst financial situation” in 17 years, says Bass, who made a huge currency bet in 2016 against the Chinese yuan. “We are in our strongest negotiating position we’ve ever had agai……
China’s Central Bank to Offer More Funds to Private Companies
China announced fresh measures to ease the funding strains of private companies, as top officials seek to restore confidence in the world’s second-largest economy. The State Council announced it would … ( read original story…
Chinese bank workers get slithery surprise after python literally crashes their meeting
The short-lived meeting took place Friday at the Industrial and Commercial Bank of China in the city of Nanning in Guangxi Province, China News reported. CCTV footage of the hiss-terical incident … ( read original…
China banking watchdog says financial risks ‘fully controllable’: CSJ
BEIJING (Reuters) – China’s systemic financial risks are “fully controllable”, the official China Securities Journal newspaper reported on Monday, citing the head of the country’s banking and insuranc… ( read original story …)
