BEIJING — China’s government says Chinese investment in other countries has plunged since Beijing tightened controls to discourage purchases of sports teams and other assets deemed unneeded for national development. The Commerce Ministry said Thursday…
Tagged By banking
Court rules against wife of man who defrauded Bank of China
A Metro Vancouver woman whose husband defrauded the Bank of China of tens of millions of dollars will have to make her case to stay in Canada a second time to an immigration board. Last…
Guessing game intensifies for next China central bank governor
BEIJING — With the governor of the People’s Bank of China, Zhou Xiaochuan, set to step down by March after 14 years, a likely successor has emerged in the person of Jiang Chaoliang, party secretary…
China’s internet finance body urges members not to deal in cryptocurrencies
SINGAPORE (Reuters) – China’s internet finance association on Wednesday urged its members not to take part in any centralized virtual currency trading or provide services involving cryptocurrency trading due to the financial and social risks.…
China is considering major investments in European finance as part of its global spending push
“They would look very favorably at transactions that have some links to the Belt and Road program, because the country needs to boost its financial muscle,” the banker said. But Beijing “will ensure the excesses…
China plans nationwide ethanol use by 2020
BEIJING — China plans to expand use of ethanol in gasoline nationwide by 2020 to curb smog and fossil fuel demand, the government said Wednesday, joining United States, Brazil and other nations that use blended…
Cryptocurrency chaos as China cracks down on ICOs
Investors in China contributed up to 2.6 billion yuan ($394 million) worth of cryptocurrencies through ICOs in January-June, according to a state-run media report citing National Committee of Experts on Internet Financial Security Technology data.…
China banks fear US North Korea sanctions
China’s big banks have been quietly but surely weaning themselves off North Korean money. This is not particularly about their troublesome neighbour. It is because of a fear of US repercussions. Bank branches near the…
China’s big banks halt services for North Koreans, tellers say
China’s Big Four state-owned banks have stopped providing financial services to new North Korean clients, according to branch staff, amid U.S. concerns that Beijing has not been … China Construction Bank (CCB) has “completely prohibited…
INSIGHT-Trust issues? China targets a $3 trillion shadow banking industry
Beijing has been taking aim at the trust companies whose unrestrained lending practices are worrying regulators. The trusts, at the heart of a vast shadow banking industry, are being pressured to step up compliance and…
China central bank issues notice on implementing U.N. resolutions
BEIJING (Reuters) – China’s central bank issued a statement on Monday on the implementation of U.N. Security council resolutions without specifying which resolutions or the affected parties. The People’s Bank of China said that Chinese…
China targets a $3 trillion shadow banking industry
S H A N G H A I • As a flood of unregulated cash swirls through the Chinese economy, Beijing has been taking aim at the trust companies whose unrestrained lending practices are worrying…
China eyes petrol car ban, boosting electric vehicles
Shanghai (AFP) – China is gearing up to ban petrol and diesel cars, a move that would boost electric vehicles and shake up the world’s biggest car market in a country that is plagued by…
