HSBC is reducing staff numbers at its China digital wealth business Pinnacle by nearly half, or about 900 people, two sources said, a sharp reversal of the bank’s ambition for the unit as part of…
Tagged By finance
China’s Economic Downfall: What Went Wrong?
China was once on track to surpass the U.S. as the world’s largest economy. But today, its financial stability is in jeopardy. What went wrong? From the catastrophic zero-COVID policies to the real …
China’s banks enhance financial support for foreign trade, ensuring growth amid potential risks
Multiple Chinese banks have moved to enhance financial support for the nation’s foreign trade sector, further optimizing policy arrangements to extend China’s foreign trade growth. Bank of …
Beijing accuses Taiwan of giving away chip companies like TSMC as ‘souvenirs’
Beijing’s Taiwan Affairs Office alleged, without evidence, that Taiwanese were worried that TSMC could turn into the “United States Semiconductors Manufacturing Co.” …
How the biggest winner from UK and US foreign aid cuts will be China
As countries lose vital foreign aid from the UK and US, some fear governments could turn to China to seek funding packages saddled with unsustainable debts …
China encourages banks to extend more financial support to sectors including steel
China’s financial regulator encouraged banks and insurers to enhance medium-to-long-term lending support for technology innovation and equipment upgrades in sectors including steel, nonferrous metals …
Trump switches his top target from China to the EU—he says after years of being ‘screwed’ by Europe, it will face 25% tariffs
President Trump claimed the EU was formed to “screw” the U.S. and has done a good job, as he announces plans for a 25% tariff.
China curbs US stock listings for homegrown companies, Financial Times reports
China’s securities regulator has clamped down on small homegrown companies listing on U.S. stock exchanges after many of them became vehicles for price-rigging, causing heavy losses for U.S. investors …
U.S. Foreign-Aid Halt Is Making Scrutiny of China Even Harder
A funding freeze is rocking nonprofits that collected increasingly scarce information in a country that Trump has deemed a competitor.
Budget 2025: Pro-Beijing lawmakers praise budget, as Democratic Party urges pay cut for senior officials
Hong Kong’s Democratic Party has criticised the financial secretary’s new budget, saying senior officials’ salaries should be cut, not just frozen – in contrast to a thumbs up given by many …
Democratic senator urges Trump Commerce nominee to take hard line on China
A senior Democratic senator on Wednesday urged President Donald Trump’s nominee to lead the Commerce Department’s Bureau of Industry and Security to take a tough line on China, citing Chinese startup …
China Quant Says Funds Must Adopt AI to Survive After DeepSeek
China’s financial and asset management industries are already rushing to leverage DeepSeek’s R1, with dozens having integrated the AI reasoning model into their own systems to reduce costs and boost efficiency. For quants, the ability…
China to start bank recapitalization with at least $55 billion
Authorities are looking to inject at least 400 billion yuan ($55 billion) of fresh capital into the first batch of banks.
