SHANGHAI (Reuters) – China should stop intervening in the foreign exchange market, devalue the yuan and let it float freely to restore stability, a senior researcher at a government-backed think tank said. Xiao Lisheng, a…
Tagged By banking
China Rapid Finance Adds to Awards Haul with Hurun Honor
China Rapid Finance Limited (“CRF” or “the company”), China’s largest consumer lending marketplace in terms of number of loans facilitated, added to its recent haul of awards and recognitions by being named to Hurun Report’s…
China, Europe drive shift to electric cars as U.S. lags
Tighter emissions rules in China and Europe leave global carmakers and some consumers with little choice but to embrace plug-in vehicles, fuelling an investment surge, said industry executives gathered in Detroit this past week for…
Beijing warns Trump: One China 'not negotiable'
Beijing on Saturday warned the US that the One China policy was non-negotiable, after Donald Trump suggested he could abandon the decades-old diplomatic principle and boost ties with Taiwan. “It is not up for negotiation,”…
How China's Asian Infrastructure Investment Bank Fared Its First Year
The China-conceived Asian Infrastructure Investment Bank (AIIB) will celebrate its first year of operations on January 16, having invested in nine projects across Europe, Asia and the Middle East. When the AIIB was announced, critics…
China expert: Tillerson's plan for the South China Sea would 'certainly end up in a shooting war with China'
President-elect Donald Trump’s secretary of state nominee, Rex Tillerson, made waves internationally on Thursday by suggesting that the US should “send China a clear signal that, first, the island-building stops, and second, your access to…
China posts worst export fall since 2009 as fears of U.S. trade war loom
BEIJING (Reuters) – China’s massive export engine sputtered for the second year in a row in 2016, with shipments falling in the face of persistently weak global demand and officials voicing fears of a trade…
HSBC risks losing advantage with year-long delay in Chinese banking push
LONDON HSBC’s (HSBA.L) ambitions to establish an investment banking franchise in China have hit a roadblock, with the bank still waiting for approval for its partnership with a state-owned fund more than a year after…
China's big banks, after record write-offs, poised for recovery
Record write-offs for bad loans and shrinking margins – caused by six consecutive interest rate cuts – led to flat profits and beaten down valuations last year for the likes of Industrial and Commercial Bank…
China c.bank lends $44.28 bln via MLF, rates unchanged
BEIJING Jan 13 China’s central bank said it lent 305.5 billion yuan ($44.28 billion) to 21 financial institutions via its medium-term lending facility (MLF) on Friday. Interest rates on the MLF loans were unchanged at…
Why China’s central bank fears bitcoin
It was only one week ago that the price of the digital currency bitcoin hit a new all-time high of $1,130. Now the price has fallen precipitously, and was hovering around $800 on Thursday afternoon.…
China c.bank expected to roll over maturing MLF loans on Friday – sources
SHANGHAI Jan 13 China’s central bank is expected to roll over maturing medium-term facility (MLF) loans on Friday, multiple banking sources said. The total amount of maturing MLF loans due this month is 435.5 billion…
After record write-offs, China’s big banks poised for recovery
Record write-offs for bad loans and shrinking margins — caused by six consecutive interest rate cuts – led to flat profits and beaten down valuations last year for the likes of Industrial and Commercial Bank…
