LONDON (Reuters) – Britain hopes to seal a billion pounds ($1.34 billion) worth of trade and investment agreements with China during weekend visit by finance minister Philip Hammond, Bank of England chief Mark Carney and…
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China reacts to Fed rate hike by nudging up key policy rate
BEIJING — China’s central bank responded to the U.S. Federal Reserve’s interest rate increase by nudging up a key policy rate Thursday on lending to commercial banks. It left the benchmark rate for borrowing by…
China’s central bank raises interest rates after Fed rise
The People’s Bank of China lifted its 7-day and 28-day reverse repurchase agreements by 5 basis points. This essentially represents a modest rise to borrowing costs and is the first rate hike since March. Beijing…
China suffers natural gas shortage as coal ban backfires
The disruption highlights the government’s difficulties in its campaign to clean up China’s smog-choked cities and reduce reliance on coal. The latest shortages stem from Beijing’s effort since 2013 to shift 3 million households in…
China lenders lobby to soften shadow bank rules
China will move closer to the western style,” said Qiang Liao, banking analyst for rating agency Standard & Poor’s in Beijing. “It’s a kind of convergence.” Instead of selling products that promise to combine the…
China says it’s cuttings its debts — here’s how that’s actually working
That progress will only continue after President Xi Jinping signaled greater resolve to tackle financial risks during the 19th Communist Party Congress in October, they added. “Everyone tends to focus on the gross amount of…
Venezuela quickly resolves financial dispute with China
CARACAS, Venezuela (AP) — Venezuela’s cash-strapped government has quickly settled a lawsuit filed by a state-run Chinese company, making good on an unpaid bill and appeasing an important ally that holds billions in the South…
Must be a goldfinch! Clever bird puts coins into piggy bank with its beak – but won’t accept anything worth too little
An adorable bird proved to be quite the savvy saver in footage showing it collecting money from pedestrians and slotting them into its piggy bank – but not every coin made the cut. Spotted collecting…
China Banking Association Denies Calling for Less Regulation
“We will fully consider the impact on the banking industry as well as on the market before we finalize the rules,” Liu said at a forum in Beijing on Saturday. “We are now gathering feedback…
China regulator pledges steady opening-ups in banking sector
BEIJING, Dec. 13 (Xinhua) — China’s banking regulator Wednesday pledged to steadily advance opening up of the banking industry following the latest government move to widen foreign access to the financial sector. China’s Vice Finance…
South Korean firms flock to Beijing hoping summit will hasten thaw with China
Trade and business exchanges between the two countries froze earlier this year after South Korea deployed U.S.-made Terminal High Altitude Area Defense (THAAD) anti-missile system regardless of vehement objections from Beijing. Among those who traveled…
Official Launch of the Air China Beijing – Brisbane Route
BEIJING, Dec. 13, 2017 /PRNewswire/ — On 10 December 2017, Air China held a launch ceremony for the inaugural flight on its new route between Beijing and Brisbane. The ceremony was attended by a number…
China Levies Large Fine on Bank Over Bond Guarantees
one of the largest penalties levied on a Chinese bank and a sign Beijing is ramping up a crackdown on ways banks have been hiding risks. The China Banking Regulatory Commission said in a statement…
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