China has ordered banks and other financial institutions to encourage more consumer financing and use of credit cards as part of a campaign to get people to spend more.
Tagged By beijing
China Mulls 50% Pay Cuts for Underperforming Fund Managers
China is considering slashing pay of fund managers who underperform their benchmarks as part of a broad overhaul of the nation’s 33 trillion yuan ($4.6 trillion) mutual fund industry aimed at boosting long-term investments,
Exclusive: China state firms curb Russian oil imports on sanctions risks, sources say
Chinese state oil companies are shying away from Russian oil this month, with two importers halting purchases while two others scaled back volumes as they assess compliance following recent U.S.
Asian shares advance, despite Wall Street’s tumble, as China pledges to boost consumer spending
Asian markets advanced Friday, shrugging off another decline on Wall Street, with markets in China gaining after state-run banks and other financial institutions were ordered to do more to help spur more consumer spending.
China’s biggest challenge now is finding way to spend more money
With Trump jacking up tariffs on China, it’s now more important than ever to meet spending targets. Read more at straitstimes.com.
Russia using cryptocurrency for oil trade with India, China to beat sanctions: Sources
Russia is utilizing cryptocurrencies like bitcoin, ether, and stablecoins in its oil trade with China and India to bypass Western sanctions. This practice assists in converting currencies such as …
Why China Is Worried About Trump’s Tariffs on Mexico
China’s exports to developing markets have soared, opening indirect routes to the U.S. market that officials in Beijing worry may be closed under pressure from President Trump.
Exclusive: Tesla plans Model Y costing at least 20% less to produce to defend China share, sources say
Tesla will make a lower-cost version of its best-selling Model Y in Shanghai, three people with knowledge of the matter said, aiming to regain ground lost during a price war in its second-largest …
Chinese Stocks Surge as Beijing Plans Briefing on Consumption
China’s stock benchmark rallied to its highest level this year, with consumer shares leading gains on expectations of more policy support for the sector.
China, Russia and Iran set to hold talks in Beijing as Trump pushes for new nuclear deal with Tehran
China is hosting diplomats from Iran and Russia for talks on Iran’s nuclear program Friday as Beijing aims to position itself as a power broker on an issue seen internationally as a pressing security …
China set for rapeseed meal shortage after 100% duty on top supplier Canada
China is likely to face a supply shortage of rapeseed meal by the third quarter of this year as Beijing’s tariffs on shipments from top exporter Canada disrupt trade and as alternative sources are …
China’s ‘Netflix’ iQiyi is set to open a theme park with virtual reality based on its own shows
Chinese videostreaming platform iQiyi plans to open its first theme park this year — the latest company to bet that local consumers will spend on experiences.
CK Hutchison’s shares drop after China posts critical commentary on port sale to U.S. interests
Shares of Hong Kong conglomerate CK Hutchison slid more than 6% on Friday after China’s Hong Kong and Macau Affairs Office posted a commentary in state media criticising the company’s recent port sale …
