Xiaomi gets a 30% stake in the third internet bank in China, after those led by Alibaba and Tencent. It is also the first privately owned bank in western China. Meituan, China’s largest group buying…
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China pledges further cuts in excess steel, coal production
BEIJING — China’s top economic planner pledged Tuesday to continue cutting steel and coal production that have been a source of trade friction with many countries. China reached targets for cuts last year, Xu Shaoshi,…
China seeks foreign investment in five-year trade plan
BEIJING (Reuters) – China’s commerce ministry reiterated its determination to lure foreign investment in manufacturing and its backing for domestic companies going overseas in a foreign trade plan for the five years to 2020 published…
China's banks have limits on how much they can lend
In fact, the opposite has happened. Central and local government borrowing in China has soared: bank and shadow-bank credit has grown rapidly: and the People’s Bank of China (PBOC) has increasingly issued direct loans to…
China's poorest, trying to stay warm, add greatly to smog
QIAN’AN, China — An overloaded coal truck rumbles down from the steel factory and hits a bump, sending chunks of its black cargo skittering and click-clicking along the asphalt. Waiting by the roadside, a farmer…
Big China bitcoin exchange says no government pressure on outflows
SHANGHAI (Reuters) – The head of a major bitcoin exchange in China says few people there use the cryptocurrency to get around rules on how much money they can take out of the country, and…
China Rapid Finance Announces Partnership with Tencent Licaitong For Investment Products
Marketplace lending platform, China Rapid Finance, announced on Sunday it has teamed up with Tencent’s wealth management platform, Licaitong, to provide new investment products for individual investors. The online lender stated that with it as…
Tencent, China Rapid Finance team up on new online consumer investment products
Internet giant Tencent Holdings could be poised to ramp up the operations of its online wealth management service, Licaitong, under a new alliance with China Rapid Finance, operator of the mainland’s largest online consumer lending…
China Needs To Fix Its Shady Bond Market
Last month gave us another story of a bubble and a bust in China’s financial markets. The trouble began in mid-December: After the U.S. Federal Reserve raised interest rates, China’s bond market saw a record…
Beijing's financial revenues hit US$72 bln
Beijing’s financial revenues totaled 508.13 billion yuan (US$72 billion) in 2016, a 7.5 percent increase year on year, according to the Beijing Municipal Bureau of Finance. It is the first time that the city’s financial…
Fall in China's forex reserves 'good news', yuan been overvalued – central bank advisor
BEIJING The decline in China’s foreign reserves is good news in the long-run, central bank advisor Fan Gang told Bloomberg News on Monday, describing the yuan as being at a “turning point” after possibly being…
China likely to allow companies to issue shares in Frankfurt this year – bourse
Deutsche Borse AG and China Financial Futures Exchange in 2015. The plan needs approval from Chinese and German regulators, but listing and trading of D shares would likely comply with existing German rules, the SSE…
China’s Financial Reserves Approach A Dangerously low Level
The latest PBOC report hints at China’s reserved tumbling by another US$41.1bn in December 2016. This would effectively reduce the country’s reserves to just above US$3tn, a very dangerous level. Financial experts all over the…
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