The rules will force Ant and some of its peers in at least two financial industries to get licenses from China’s central bank and meet minimum capital requirements for the first time, said people familiar…
Tagged By banking
China’s Got Jack Ma’s Finance Giant in Its Crosshairs
There’s no other company on Earth quite like Ant Financial. But Ant’s extraordinary reach may soon expose the company to a major challenge: Chinese policy makers, worried that Ant and other financial holding companies pose…
China slams US criticism of its ‘Orwellian’ Taiwan demand
BEIJING — China has dismissed White House criticism of its “Orwellian” demand that foreign airlines not refer to self-ruled Taiwan as a country, saying companies operating in China must respect its sovereignty. “Whatever the U.S.…
China is about to give global finance the chance of a lifetime
“A more open and competitive financial sector should deliver more growth bang for each unit of credit buck,” says Bloomberg Economics Chief Asia Economist Tom Orlik. China’s $42 trillion financial sector is set to open…
China Steps Up Crackdown, Imposes More Fines on Financial Firms
The China Banking and Insurance Regulatory Commission imposed the latest penalties on China Merchants Bank Co., Industrial Bank Co. and Shanghai Pudong Development Co. for more than a dozen violations at each entity, the regulator…
China’s trade imbalance with U.S. a long-term problem, says central bank governor: Caixin
BEIJING (Reuters) – China’s “huge” trade imbalance with the United States is a structural and long-term problem and should be viewed with rationality, the Chinese central bank governor was quoted as saying by financial magazine…
China is letting in foreign firms, but will the financial market really be open?
China’s financial regulators are fast-tracking approvals for foreign firms to access some parts of the market, as Beijing tries to reposition itself as an “open” advocate of “free trade” amid an escalating row with the…
At World Bank, China Moves to the Grown-Up Table
The World Bank will scale back loans to China. No matter, China wins anyway. That’s because China will boost its shareholding in the Washington-based lender, under a capital increase approved by bank members late last…
China fines banks over wealth management transgressions
BEIJING, May 6 (Xinhua) — The China Banking and Insurance Regulatory Commission (CBIRC) recently fined three commercial banks for improper practices in wealth management. China Merchants Bank, one of the country’s biggest, was fined more…
U.S. condemns China for ‘Orwellian nonsense’ over airline websites
WASHINGTON (Reuters) – The White House on Saturday sharply criticized China’s efforts to force foreign airlines to change how they refer to Taiwan, Hong Kong and Macau, labeling China’s latest effort to police language describing…
Warren Buffett: Trade with China is a ‘win-win situation’
The Trump administration has asked China to reduce its trade deficit with the U.S. by $200 billion by the end of 2020. In an earlier interview with Yahoo Finance, Buffett said the U.S. needs an…
China limits banks’ risk exposure
BEIJING, May 5 (Xinhua) — China’s banking regulator has limited commercial bank’s risk exposure to avoid systemic risk. A commercial bank’s risk exposure to an interbank client shall not exceed 25 percent of its tier…
The Latest: Trump says China ‘spoiled’ by US trade wins
BEIJING (AP) — The Latest on China-U.S. trade talks in Beijing (all times local): 9:10 a.m. President Donald Trump is tweeting the U.S. trade delegation is on its way back from China. Trump says “we…
