It’s misguided to focus on China’s renminbi replacing the U.S. dollar. Beijing is already successfully reducing dependence on a dollar-centric global system.
Tagged By finance
If you think China needs to dethrone US dollar, you don’t understand how it is waging global currency war
It’s misguided to focus on China’s renminbi replacing the U.S. dollar. Beijing is already successfully reducing dependence on a dollar-centric global system.
A tale of two cities: can Shanghai challenge Hong Kong’s offshore finance crown?
Beijing is accelerating Shanghai’s offshore finance ambitions, raising questions over whether Hong Kong’s long-held edge can endure Hong Kong has been seizing every opportunity to consolidate its role …
China’s audit body censures state lenders over tax failures
China’s National Audit Office (CNAO) has uncovered tax evasion and oversight failures at several major state-owned financial institutions. In its annual work report, the CNAO said the Bank of China …
China’s central bank urges banks to boost lending as demand remains weak, sources say
June 26 (Reuters) – China’s central bank instructed some commercial banks to increase their lending this month, people familiar with the matter said on Friday, the latest sign that demand for credit …
China approves Standard Bank, ICBC for Africa yuan clearing
By Colleen Goko JOHANNESBURG, June 26 – China’s central bank has authorized Standard Bank and the Industrial and Commercial Bank of China (ICBC) to clear yuan currency (Renminbi) transactions across …
Bank of China used disguised mutual funds to avoid paying US$348m in taxes, audit finds
The bank channelled funds through affiliates and mass employee investors to pass off private funds as public, China’s top auditor says.
A Look At Beijing Shougang LanzaTech Technology (SEHK:2553) Valuation After An 11.39% One Day Share Price Drop
Why Beijing Shougang LanzaTech Technology is drawing attention now Beijing Shougang LanzaTech Technology (SEHK:2553) has come onto investors’ radar after a sharp 11.39% single day share price drop, …
China’s top auditor says major state banks have committed tax evasion or lending violations
BEIJING, June 25 (Reuters) – China’s top audit body has identified some of the country’s biggest state-owned financial institutions as having evaded tax or having lax loan oversight, underscoring …
China central bank to add tool to better manage short-term liquidity
SHANGHAI/BEIJING, June 25 (Reuters) – China’s central bank said it will debut overnight lending next week, offering reverse-repos to banks and brokers as it deepens control over what have been …
China State Banks Called Out for Tax Evasion, Improper Loans
China’s top auditor flagged several of the nation’s largest state-backed financial institutions for tax evasion and improper lending as Beijing seeks to rein in financial risks.
Island turns ecosystem into financial asset
According to the certification, in 2020, the island generated 6,248 short tons of carbon dioxide equivalent from energy use, agriculture and waste treatment, while its forests absorbed 7,717 short …
China plans tougher sanctions on fraudulent auditors – report
The new ruling is expected to increase the maximum fine for issuing false audit reports to as much as ten-times the unlawful gains.
