Chinese banks are facing increasing risks from rising non-performing loans (NPLs) and diminishing returns, making them a lightning rod for investors’ worries about the world’s second-largest economy.
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China’s ‘first warning shot’ on export controls causes 27% jump in price of gallium—a metal vital to tech industries
A piece of liquid gallium. Global gallium prices jumped 27% this week as buyers reacted to China’s move to control exports of the niche metal used in an array of high-tech industries. Beijing’s …
US, China pledge ‘healthy’ economic ties as Yellen visits Beijing
US Treasury head’s trip is latest effort to stabilise relations, but few breakthroughs expected amid ongoing disputes.
Yellen opens Beijing trip by criticizing China on treatment of US companies
Treasury Department Secretary Janet Yellen opened her trip to Beijing by criticizing Chinese treatment of U.S. companies, pointing out the conditions that they have faced while operating in China, …
Goldman’s China banks downgrade based on ‘pessimistic assumptions’ -state media
Goldman said in a report on Wednesday that it had downgraded Agricultural Bank of China (AgBank) from “Neutral” to “Sell,” while cutting Industrial and Commercial Bank of China (ICBC) and Industrial …
Amid clouds of economic uncertainty, China welcomes US treasury secretary with hope – and a rainbow
US Treasury Secretary Janet Yellen stepped off her plane in Beijing after a long flight from Washington to be greeted by smiles – and a rainbow. Yellen touched down in Beijing on Thursday afternoon, …
China wraps up fintech crackdown with big fines on Tencent, Alibaba
The regulatory crackdown that has shaken up China’s fintech industry since late 2020 appears to be coming to a close with the imposition of hefty fines on the country’s two digital payments giants.
In Beijing, Yellen raises concerns over Chinese actions against U.S. businesses
“I’ve been particularly troubled by punitive actions that have been taken against U.S. firms in recent months,” Yellen said at a roundtable with U.S. businesses in China.
UPDATE 1-Yellen holds talks with China’s central bank governor, former economy tsar
U.S. Treasury Secretary Janet Yellen met with China’s central bank governor Yi Gang and former economy tsar Liu He for informal talks on the global, U.S., and Chinese economies on Friday, according to …
China fines Jack Ma’s Ant Group nearly $1 billion
China’s top financial regulators have fined Ant Group — the fintech firm founded by billionaire Jack Ma — about 7.1 billion yuan ($994 million) for breaking rules related to consumer protection and …
China Hits Tech Firms With Hefty Fines As Crackdown Draws To Close
Chinese regulators said Friday they had fined fintech giant Ant Group almost $1 billion for “illegal acts” and handed an affiliate of rival Tencent a $415 million penalty, adding that a long-running …
U.S. Treasury chief Janet Yellen visits China with warning over “unfair economic practices”
Janet Yellen, in Beijing to meet Chinese officials and American businesses, stressed the U.S. desire to boost trade, but not at the expense of security.
Beijing Faces Economic Policy Failures On A Grand Scale
Beijing has had to roll out a new stimulus package and in doing so effectively admit that the original policy (to correct for the old, failed Covid policy) also had failed. The authorities in the…
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