Liu Xiangdong, a researcher with the China Center for International Economic Exchanges, said: “Applications of digital technologies have expanded from the consumption arena to the production field.
Tagged By banking
Analyst Who Raised Alarm For Chinese Banks Now Predicts Potential Instability In China’s $2.9 Trillion Trust Industry
China’s trust industry, which contributes to nearly 10% of the country’s total loans according to Bloomberg Economics, has already shown signs of instability.
Stabilizing, strengthening China’s financial order
Last month’s Central Financial Work Conference underscored areas where China’s central government should intervene to strengthen and stabilize the economy, from restoring local-government balance …
China Frames ‘One Province, One Policy’ Plan for Financial Risk
China’s regulator wants provinces to come up with their own plans to handle financial risks, according to a report, about a month after officials pledged to set up a mechanism to resolve local debt …
China finance regulator to speed reform of small, mid-sized financial institutions
China finance regulator to speed reform of small, mid-sized financial institutions. The administration will seize current favourable opportunities and increase efforts to promote risk disposal, …
China’s central bank to support real economy, guard against financial risks further
BEIJING – The central bank will ramp up support for the real economy, guard against systemic financial risks and deepen financial opening-up, according to People’s Bank of China (PBOC) Governor Pan …
Beware of ‘fake financial innovation’, China’s new overseer warns industry
The Communist Party’s Central Financial Commission says finance must be leashed to the real economy or risk big losses.
Two Key Executives Associated With China’s Shadow Bank Zhongzhi Reported Missing
Beijing-based Zhongzhi controls nearly a dozen asset and wealth management firms. It is considered part of China’s $3 trillion “shadow banking” industry, a sector that forms an important source of …
Financial watchdog fines China CITIC Bank over $31m
The National Financial Regulatory Administration has fined China CITIC Bank, a joint-stock commercial lender, more than 224.75 million yuan ($31.46 million), according to the financial watchdog on Friday.
UPDATE 1-Taiwan reports more Chinese military activity as election nears
Taiwan again reported Chinese warplanes and warships around the island on Thursday, including aircraft crossing the sensitive median line of the Taiwan Strait, as Beijing keeps up its military activities ahead of Taiwan’s January election.
China ‘too overwhelmed’ by major internal chaos to invade Taiwan, claims Taipei
While Xi reaffirmed China’s position that Taiwan is part of China during a recent summit with President Biden, he reportedly said that there are no immediate plans for invasion.
China’s economic data again under the microscope, local authorities warned over falsifying statistics
Amid rising debt, property slump, data may be China’s next financial hurdle In a rare move in October, the Standing Committee of the National People’s Congress warned some asset quality data at small …
China finance ministry surveys banks about sovereign bond issuance plan for 2024 – sources
In a surprise move, China in late October approved 1 trillion yuan ($140.11 billion) of sovereign bond issuance for this year — its first such fiscal deficit expansion within the year in 23 years –…
