In the ongoing competition between China and the United States, a new front has emerged, centered around the US dollar. China is betting big on the fall of the US dollar, using its banks as…
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PwC China stops work on $210m campus as Evergrande crisis mounts
A lavish training institute on the tropical island of Hainan is under review as the firm reels from fallout from its audits of the failed property developer.
China’s carbon market is moving from burden to boon
By expanding beyond power generation, the market will increase its trading, diversity and liquidity, raising carbon asset value.
China fines accounting firm PwC $62M, suspends operations for 6 months
China’s Securities Regulatory Commission and Ministry of Finance Friday fined accounting giant PwC $62 million and suspended the company for six months for allegedly enabling fraud by the Evergrande …
Beijing’s pension plan grasps at a utopian reality
This has since increased to over 78 according to the World Bank, compared to about 76 in the United States … This compares with 20 years in China following the latest reform. Beijing has good…
Man convicted under Hong Kong national security law over protest T-shirt
A 27-year-old arrested for wearing a protest T-shirt became the first person convicted under Hong Kong’s new security law that supports Beijing.
Commodity Roundup: China’s oil demand falls, gold hits another record high on rate cut hopes
Oil prices rose on Monday, adding to last week’s gains, as markets hope for an interest rate cut by the U.S. Federal Reserve.
Asian stocks mixed amid weak China data after Wall Street closes the best week of 2024
Asian stocks are mixed with several key markets closed for a holiday, after U.S. stocks finished their best week of the year and climbed to the cusp of their records …
Mastercard Introduces Tap & Go in Beijing for Visitors
MA enables Tap & Go payments for international travelers in Beijing’s urban rail transit system, simplifying access for inbound tourists and expanding digital payment options in China.
China’s economic ascendancy in Africa threatens US imperialism
China has supplanted the United States and the European Union as Africa’s main trading and investment partner.
China finance hub Shanghai hit by one-in-a-century storm
Shanghai, China’s financial hub, was hit by the strongest tropical storm in 75 years Monday. The city had closed its seaports and canceled more than 600 flights in preparation for Typhoon Bebinca, …
With Fed rate cut opening the door, China likely to ease as economic issues grow: analysts
And although an interest rate cut by China may not be imminent, a cut in the reserve requirement ratio (RRR) – the amount of cash that commercial banks must hold as reserves – m …
China Fights US Dollar: Exposes Chinese Banks to Losses
China’s covert strategy to support the yuan using foreign-exchange swaps is putting its banks at risk of billions in losses while creating easy profits for savvy investors. State-run Chinese banks …
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