BEIJING // The China-backed Asian Infrastructure Investment Bank (AIIB) has defied critics by rapidly accelerating its lending programme after its creation a little over a year ago. The AIIB has already made funds available to…
Tagged By banking
FINANCIAL CRASH WARNING: China’s debt could cause economic disaster ‘worse than 2008’
The colossal country has seen its GDP to debt ratio soar to eye-watering levels, from 148 per cent at the end of 2007 to around 277 per cent at the end of 2016. Fears over…
China's OkCoin, Huobi exchanges to stop bitcoin withdrawals
SHANGHAI Two of China’s three largest bitcoin exchanges said they were taking measures to stop withdrawals of the cryptocurrency from their platforms, as capital outflows prompt the Chinese central bank to step up its scrutiny…
China tightens monetary policy (discreetly)
All these guesses would have been wrong. The first to budge this year? The People’s Bank of China. On February 3rd the Chinese central bank raised a series of short-term rates. The decision received scant…
Bitcoin trading shrivels under Chinese government’s glare
Trading volumes at China’s three largest bitcoin exchanges have plummeted after the central bank put the virtual currency market under sharper scrutiny a month ago in a move that coincided with official efforts to stem…
China's Central Bank Issues New Warning to Bitcoin Exchanges
The People’s Bank of China issued a new statement today in which it laid out in writing the warning it issued to nine domestic startups in a meeting yesterday. The post, issued via the central…
China Bitcoin Exchanges Halt Withdrawals After Central Bank Talk
China is cracking down on capital outflows as the yuan weakens China’s three biggest bitcoin exchanges took steps to prevent withdrawals of the cryptocurrency amid pressure from the nation’s central bank to clamp down on…
Central bank withdraws liquidity for three weeks
BEIJING – China’s central bank has drained liquidity from the market for three consecutive weeks, as demand for funds fall after the Lunar New Year holiday. The People’s Bank of China (PBOC) withdrew 625 billion…
Trump changes tack, backs “one China” policy in call with Xi
BEIJING/WASHINGTON (Reuters) – U.S. President Donald Trump changed tack and agreed to honor the “one China” policy during a phone call with China’s leader Xi Jinping, a major diplomatic boost for Beijing which brooks no…
Trump backs “one China” policy in call with Xi
BEIJING/WASHINGTON (Reuters) – U.S. President Donald Trump changed tack and agreed to honor the “one China” policy during a phone call with China’s leader, a major diplomatic boost for Beijing which brooks no criticism of…
China central bank warns bitcoin exchanges that violations could mean closure
SHANGHAI China’s central bank said on Thursday it met with nine of the country’s smaller bitcoin exchanges to discuss risks and problems in the bitcoin market, and warned them that they risk closure should they…
Trump may soon label China a currency manipulator, Deutsche Bank says
The Trump administration could soon move to label China a currency manipulator and impose penalties like higher taxes on Chinese imports. President Donald Trump has repeatedly bashed China, accusing the world’s second-largest economy of cheating…
Alibaba's Ant Financial to raise as much as $3 billion in debt: source
HONG KONG China’s most valuable online finance company, Ant Financial, is in early stage talks with banks to raise between $2 billion to $3 billion in debt to fund acquisitions and foreign investments, a person…
