China has previously taken steps to curb cryptocurrency trading in the country, but recent moves may eliminate trading in the country completely. People’s Bank of China said on Sunday that it would block access to…
Tagged By finance
Banking, transport sectors lead rebound in equities
SHANGHAI－China’s stocks recouped early losses sparked by a slide on Wall Street and ended higher on Monday, underpinned by robust gains in banking and transport shares that offset a slump in consumer shares. At the…
Beijing bans bitcoin, but when did it all go wrong for cryptocurrencies in China?
The People’s Bank of China (PBOC) and four other financial regulators issue a joint notice outlining the risks associated with bitcoin. Beijing states that it is not a currency, and prohibits banks and other financial…
China stocks reverse losses, end higher as banks jump
The largest percentage gainers in the main Shanghai Composite index were Kailuan Energy Chemical Co Ltd. SHANGHAI: China stocks recouped early losses sparked by a slide on Wall Street and ended higher on Monday, underpinned…
Bank works overtime to save most of elderly couple’s US$4,750 life savings after house fire
An elderly couple from rural China who thought they had lost their life savings in a fire at their home managed to recoup three quarters of their nest egg after bank workers spent eight hours…
Quick Take: Chinese Bank Brands Outperform Global Peers
The brand value of China’s top banks increased by 22% in 2017, more than double the average growth experienced by the world’s top 500 banks. The value of the 45 Chinese bank brands on the…
Reserve Bank fines China Construction Bank for failing to follow procedures
The central bank says the fine was due to weaknesses in the Chinese bank’s control measures rather than transactions involving money laundering or the financing of terrorism It is impossible to extract ore from the…
China stocks defy global downtrend, Hong Kong cuts losses on strong inflows
Buying has been concentrated in Hong Kong-listed Chinese lenders, such as CITIC Bank and China Everbright Bank Co. Ma Xixun, executive director at asset manger PinPoint, said he expects the Hong Kong market to remain…
UBS raises China 2018 GDP growth forecast
BEIJING – Swiss bank UBS has upgraded its forecast on China’s 2018 gross domestic product (GDP) growth, citing stronger momentum of the global economy and growth in China’s exports. The bank revised up its China…
Waldorf Astoria Beijing continues its reign as one of Beijing’s most prestigious luxury hotels
BEIJING, Feb. 5, 2018 /PRNewswire/ — Three new eminent and prestigious awards were bestowed upon The Waldorf Astoria Beijing in 2017, cementing its standing as a leader in the luxury hotel market in Beijing and…
China to stamp out cryptocurrency trading completely with ban on foreign platforms
“To prevent financial risks, China will step up measures to remove any onshore or offshore platforms related to virtual currency trading or ICOs,” said an article published by Financial News, a publication affiliated to the…
Foreign banks welcome to access local financial services market
By announcing its plan to launch new regulatory policies, China has shown it will open up its financial markets to foreign banks, the official said. ( read original story …)
Cats, rats and what a fistful of dodgy dollars in the desert tells us about China’s banking system
The Wenchang Road outlet of the Postal Savings Bank of China in the desert city of Wuwei is in the literal and metaphorical wild west of the Chinese financial world. Wuwei is in the remote…
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