BEIJING (Reuters) – China’s banking regulator said on Saturday that it had fined 12 Chinese lenders after uncovering illegal trading of 7.9 billion yuan ($1.25 billion) of bank bills. The fraud has “severally disrupted market…
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Beijing to further open up financial sector to foreign investment
BEIJING – Beijing welcomes international financial institutions to set up exclusively foreign-owned financial enterprises or financial joint ventures in 2018 to further open up the capital’s financial sectors, according to a government report released at…
Air China to Launch Beijing-Copenhagen Route
Air China Limited (Air China) will begin non-stop flights between Beijing and Copenhagen from May 30. Once the new route is launched, passengers will be able to arrive comfortably in Andersen’s dreamlike fairy tale kingdom…
Beijing mulls over merger of banking, insurance regulators
BEIJING • China is considering a merger of its banking and insurance regulators, people familiar with the matter said, as it seeks to better coordinate its attempts to counter financial risks in the world’s second-largest…
China tells world: It’s us or the United States ahead of President Trump’s Davos speech
CHINA has given the world a blunt choice by asking global leaders to choose between Xi Jinping’s global outlook and that of US President Donald Trump. In a strongly worded editorial by the state’s news…
China Considers Merger of Banking, Insurance Watchdogs
China is considering a merger of its banking and insurance regulators, people familiar with the matter said, as it seeks to better coordinate its attempts to counter financial risks in the world’s second-largest economy. Government…
China considering merging its banking, insurance regulators – Bloomberg
BEIJING (Reuters) – China is considering a merger of its banking and insurance regulators, Bloomberg News reported on Friday, citing people familiar with the matter. Government agencies under the direction of a Communist Party central…
China’s BAIC Plans Listing Electric Car Unit
China’s state-backed Beijing Automotive Group (BAIC) will take its electric vehicle unit public by injecting it into another listed subsidiary, boosting its financial muscle as the battle for the country’s hotly contested green car market…
A girl, a stranger, and a fight for justice in China
XIANGYANG, China — The young woman, new to the grind of Chinese factory life, knew the man who called himself Kalen only by the photo on his chat profile. It showed him with a pressed…
China will be at the center of next global financial crisis – expert
It has been a decade since the financial crisis of 2008. The economic slump is finally over, according to Harvard Professor of Public Policy Kenneth Rogoff, which means some reversion in terms of productivity growth.…
Beijing plans to boost scrutiny of Chinese offshore private equity funds: Sources
The move comes amid a wider crackdown by Beijing on debt-backed investments overseas, and opaque, shadow banking-linked wealth management products at home that have been repackaged for use in overseas funds. Under the plan, the…
Before China can remove implicit guarantees from financial system it must take these steps, says IMF
In China, many retail investors assume that if they lose money on their investments, the bank that sold these to them should cover the losses, while the banks themselves assume that loss-making state-owned enterprises will…
China’s Banks Are Improving (Sort Of)
The People’s Bank of China — which extended $273 billion to banks in 2017 — at least seems to recognize the scale of the problem. Banks, for their part, need to avoid seeing these injections…
