Banks and financial firms in China, as elsewhere, are required by “know-your-customer” rules to check the identity of people or companies using their systems. Compliance experts said global financial firms typically use a number of…
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China should create a 'level playing field,' Ericsson chairman says
China should provide the same degree of market access to foreign companies as Chinese firms are receiving in other countries, Ericsson’s chairman told CNBC. “It’s obvious that if China is to be part of the…
China is beating America again, this time by investing in pricey Brooklyn real estate
Devotees of hot pot, a fondue-esque specialty from China’s Fujian Province, are lining up at eateries in Sunset Park, Brooklyn’s first Chinatown. In Bensonhurst, the annual Festa di Santa Rosalia remains a testament to the…
China must act or risk 'disorderly default' : OECD
BEIJING — China faces mounting financial risk even as an innovation drive aimed at rebalancing the economy away from low-value manufacturing falls short, according to a report by the Organization for Economic Cooperation and Development.…
China appoints banking regulator head to central bank monetary policy committee
BEIJING China’s cabinet said on Tuesday it had appointed Guo Shuqing, the head of the country’s banking regulator, to the central bank’s monetary policy committee, in a routine reshuffle. Guo, who was named as chairman…
Policy uncertainty, protectionism can impact global economy: China finance minister
BEIJING China’s Finance Minister Xiao Jie, who attended last week’s G20 meeting, warned that momentum seen in the global economy could be curbed by policy uncertainties and the rise of protectionism. G20 finance ministers and…
China central bank should clarify rate policy, improve communication: working paper
BEIJING China’s central bank should clarify its new short-term policy rate and the target rate level as soon possible, according to a central bank working paper, as authorities in the world’s second-largest economy slowly shift…
China prepares to counter any U.S. trade penalties: sources
China could respond with actions such as finding alternative … A glimpse of the uncertain future, however, came on Saturday in a communique after a meeting of finance ministers at the G20 in Germany, which…
Finance Canada says there are ‘limits’ to transparency on gender-based analysis
A newly released memo from Finance Canada says departmental officials regularly … Canada committed to using gender-based analysis in 1995, as part of ratifying the UN Beijing Declaration and Platform for Action, but the auditor…
Retirement planning should be more annuities driven, urges Chinese elderly finance group
“We need more cuts in corporate contributions to the state pension system and have more employers build up the annuity sector, which is still in its infancy,” said Dong Keyong, secretary general of China Ageing…
China vows to boost BRICS financial cooperation: ministers
China will work actively with parties concerned to push forward the financial cooperation among the BRICS countries and make more achievements, China’s finance minister and central bank chief have said. They made the remarks on…
China regulates fund outsourcing business in fresh move to curb shadow banking: Sec Times
SHANGHAI China’s securities regulator has introduced new restrictions for financial institutions seeking to outsource fund management to external fund managers, the official Securities Times reported on Monday, as the government tightens shadow banking. ( read…
China bad loan risks under control: banking regulator vice chairman
BEIJING The performance of China’s banking sector this year has been “so far, so good”, Wang Zhaoxing, vice chairman of China’s bank regulator, said on Saturday as banks take aggressive action to control the rise…
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