China already boasts more digital mobile payment users than anywhere else on earth, in a US$49 trillion market almost 500 times bigger than in the United States. The People’s Bank of China governor Yi ……
Tagged By finance
Beijing likely to dump US treasuries as US-China tensions soar: Report
U.S. holder of Treasuries, held $1.074 trillion in June, down from $1.083 trillion the previous month, according to latest official data … ( read original story …)
China’s Xi supports Beijing free trade zone
Chinese President Xi Jinping said on Friday he supports the city of Beijing in setting up a pilot international free trade zone for the service sector and digital economy and to promote scientific and ……
China fines five financial firms $47 million for misconduct
China fined five financial institutions a total of 320 million yuan ($47 million) on Friday, as the country’s watchdog steps up a crackdown on financial misconduct to tame systematic risks. ( read original story …)
China may dump U.S. Treasuries as Sino-U.S. tensions flare: Global Times
China may gradually cut its holdings of U.S. Treasury bonds and notes, in light of rising tensions between Beijing and Washington, state-backed newspaper Global Times cited experts as saying. With … ( read original story…
China shares end lower; Shanghai posts first weekly loss in six
China stocks closed lower on Friday after a sharp overnight selloff in Wall Street, with the benchmark Shanghai index posting a weekly loss after a five-week winning streak. ( read original story …)
China Banks Plan $29 Billion in Bond Sales to Replenish Capital
Industrial & Commercial Bank of China Ltd., the world’s largest lender, and three domestic competitors plan to sell a combined 195 billion yuan ($28.5 billion) of perpetual or tier-2 capital … ( read original story…
A tale of two Hong Kongs: Beijing cracks down while the financial hub thrives
Ant Group’s IPO will take place against a backdrop of the dismantling of the territory’s pro-democracy movement … ( read original story …)
Why China hasn’t forgotten about the war against Japanese aggression
BEIJING, Sept. 3, 2020 /PRNewswire/ — The Chinese People’s War of Resistance Against Japanese Aggression that lasted from 1931 to 1945 forever changed China and China-Japan relations. China is … ( read original story …)
China’s Mega Banks Are in Mega Trouble—And So Is the Chinese Economy
As everyone in Beijing leadership circles knows, the failure to move to a consumption-based economy risks a debt crisis and a debt crisis risks the banks.” … ( read original story …)
JPMorgan to Up Stake in China Securities Joint Venture to 71%
JPMorgan (JPM) is taking advantage of China’s opening up of financial markets for foreign banks. This is likely to further support the bank’s revenues, going forward. ( read original story …)
US-China decoupling prompts Beijing to relax rules for foreign investors in onshore bond market
China is drafting new rules to make it easier for foreign institutional investors to buy onshore bonds, as Beijing steps up efforts to lure overseas investment. ( read original story …)
Beijing Pushes Its Big Banks to Weakest Health in a Decade
Warning signs are flashing for China’s $45 trillion banking industry, just when Beijing needs it the most to keep the world’s second-largest economy on its recovery path. ( read original story …)
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