Under the policy, the U.S. recognizes Beijing as the sole government of China but maintains strong unofficial ties with Taiwan and remains the island’s main supplier of defense equipment. Meanwhile, the Treasury Department proposed to…
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Global coordination important as world economy changes: China vice finance minister
BEIJING Global coordination is important as the world economy undergoes changes, including the latest increase in U.S. interest rates earlier this month, China’s Vice Finance Minister Zhu Guangyao said ahead of a G20 summit of…
US blacklists China bank, revving up pressure over North Korea
The Trump administration has blacklisted a small Chinese bank accused of illicit dealings with North Korea, escalating pressure to get Beijing to rein in its wayward ally. The Treasury Department says that the Bank of…
China central bank to skip open market operations for fifth straight day: statement
SHANGHAI China’s central bank said it will skip open market operations for the fifth day in a row on Thursday, as liquidity levels in the banking system were “relatively high”. “Fiscal expenditure was increasing towards…
China can control financial risks as debt rises: Li
BEIJING: China’s premier on Tuesday tried to quell fears surging debt might threaten growth, saying financial risks are “generally under control” and Beijing can achieve this year’s development targets. Speaking at a meeting of the…
Tourist trap: China’s surpluses may be bigger than thought
“Financial outflows concealed as travel imports are large and significant, growing to around 1 percent of China’s GDP in 2015 and 2016, and account for a quarter of recorded net private financial outflows,” she wrote.…
China frees 3 activists who probed Ivanka Trump supplier
GANZHOU, China — Chinese authorities have released on bail three activists who had been detained after investigating labour conditions at a factory that produced shoes for Ivanka Trump and other brands. The three activists walked…
China’s huge debt bubble risk to Britain’s stability, warns Bank of England
in its biannual financial stability report. “Vulnerabilities in China remain pronounced” according to the report and the Bank listed the country as one of a number of risks to Britain’s economy. China’s debt has now…
China confronting its financial risks, premier says
DALIAN, China — Beijing possesses the tools to avert damage that could result from the financial risks facing the world’s second-largest economy, Chinese Premier Li Keqiang said Tuesday at the World Economic Forum here. Li,…
China’s shadow finance time-bomb could trigger crisis
In the past decade, shadow banking has taught China great lessons about capitalism. That is, except for the most important one: failure. Since the 2007 financial crisis, China has poured more than $600bn into the…
China regulator issues rules to shore up investor protection
SHANGHAI, June 28 China’s securities regulator has stepped up efforts to protect investors’ interests, publishing a set of know your customer rules on Wednesday that restrict financial institutions from selling risky products to inexperienced investors.…
China’s debt surpasses 300 percent of GDP, IIF says, raising doubts over Yellen’s crisis remarks
In its Financial Stability Report released Tuesday, the central bank noted that Brexit, high levels of indebtedness in China and an increase in consumer credit in the U.K. as potential risks. According to the IIF,…
China’s traditional banks lose branding ground to internet rivals
In the early 1980s, people in China had a one-stop shop for all their banking needs: the People’s Bank of China. It was, in fact, the only bank in China at the time, as well…
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