Chinese authorities are taking more forceful action to contain the growing financial troubles of one of the country’s biggest shadow lenders.
Tagged By banking
Global bank ranking removes Unicredit and moves up UBS, China banks
The Financial Stability Board (FSB) on Monday removed Italy’s UniCredit from the list of global systemically important banks and moved three banks, including Switzerland’s UBS, up a bucket. The G20’s …
Police Make Arrests at a Giant Shadow-Banking Firm in China
China’s Zhongzhi Enterprise Group has a $31 billion hole in its balance sheet and has missed a series of payments to investors. It gets worse: The company has disclosed that “criminal coe …
Beijing police investigates major Chinese shadow bank Zhongzhi over suspected crimes
Police are investigating a Chinese wealth management company owned by Zhongzhi Enterprise Group days after the firm told investors it was insolvent …
China’s Data Trading Market Size Reached USD12.3 Billion Last Year, Report Shows
(Yicai) Nov. 27 — China’s data trading achieved a market size of CNY87.7 billion (USD12.3 billion) last year, according to a recent report by the Shanghai Data Exchange.
Jefferies discusses China’s probe into shadow bank Zhongzhi
Shujin Chen, China economist and head of China financial and property research at Jefferies, discusses the country’s shadow banking sector, which she says is “largely affected by the property …
China Needs to Unblock, Sustain Financial Channels for Private Firms
Efforts should be made to “unblock” financial channels such as loans, bonds and shares, said the People’s Bank of China (PBOC) in a joint statement with seven other government departments and …
China Bank-Backed Dollar Bond Sales Plunge Amid Default Jitters
Cash-strapped Chinese borrowers are losing another funding avenue, as default jitters rock a market that relies on quasi guarantees from banks for repayment.
Alarm bells are ringing louder as China’s financial cancer spreads
The self-declared status of one of China’s largest shadow banks as “severely insolvent” has revealed another crack in a distressed financial system. Beijing may have to step in.
China’s services sector to open up for more investment
Beijing: The Chinese government plans to gradually extend practical liberalisation measures in the services sector from Beijing to other provinces and cities, further expanding market access for …
Beijing-based AIIB to extend $300mn in loans to Turk Eximbank
By bne IntelIiNews Beijing-based Asian Infrastructure Investment Bank (AIIB) on November 22 approved $300mn in loans for Turkish government-run Turk Eximbank, according to a statement from the …
FirstFT: China launches investigation into shadow bank Zhongzhi
Also in today’s newsletter, Hamas freed 17 captives yesterday and what we’ll learn from an upcoming OpenAI employee stock sale …
China opens probe into troubled shadow banking giant Zhongzhi
Police in Beijing said in a statement on WeChat that they took “criminal mandatory measures” against multiple suspects, identifying one by the last name Xie. They urged investors to report cases or …
