SHANGHAI: Chinese police have broken up a secret banking operation used to transfer assets abroad, the official China Daily reported on Tuesday. The underground bank, hidden in a food market in the southern city of…
Tagged By finance
China Banking Association says S&P’s ratings cut ‘simple, biased’
The S&P Global Ratings’ downgrade of China’s sovereign credit rating is a “simple, biased and unfair” decision that is against economic fundamentals and indicators, China Banking Association said Monday. The association said the rating downgrade…
Asian Development Bank boosts China’s economic forecast
The Asian Development Bank (ADB) raised its outlook for China’s economic growth this year on the back of strong domestic consumption, an export recovery and solid growth in services. ADB now expects China’s economy to…
China to further open up finance
China is poised to allow access to more foreign financial institutions to help the development of the domestic financial sector, as top policymakers are reportedly mulling new measures to push ahead with reform and opening-up…
Trudeau urges Canadian companies to seek fortune in China’s $5 trillion market
TORONTO — Prime Minister Justin Trudeau called on Canada’s small-and-medium sized businesses to embrace globalization and help deepen what he termed the “Canada-China friendship” by exploring the market potential of selling to its half-billion ……
Is China still keen to develop a sovereign digital currency after ban on bitcoin trading?
Financial News, the mouthpiece of the People’s Bank of China, published an opinion piece on last Tuesday saying Beijing should “accelerate the process of launching a sovereign digital currency after it curbed risks of encryptocurrencies”.…
China Construction Bank Partners IBM for Blockchain ‘Bancassurance’ Solution
China Construction Bank, the world’s second-largest bank by market capitalization, is working with IBM to develop and launch a blockchain-enabled bancassurance platform for its retail and commercial banking arm in Hong Kong. A ‘bancassurance ……
Calls for a freer yuan from inner circle of China’s central bank
China could be heading towards a free-floating currency after a group of economists – including officials from the central bank – suggested the time was ripe for such a move. The comments were made in…
China’s robot revolution may affect developing countries, says World Bank
China is rapidly replacing factory workers with machines and will likely have the highest number of industrial robots in the world by next year, according to a new World Bank report. The fast pace of…
China’s Banks Cannot Achieve Financial Inclusion Alone, Think Tank Chief Says
(Beijing) — To achieve financial inclusion in China, a competitive and sustainable microloan market is more important than simply offering loans at lower rates or to provide lending to borrowers shunned by banks, the head…
Hong Kong ‘falling behind’ in race to build up automated financial adviser platforms
Operators of automated, algorithm-driven financial planning services, or so-called robo-advisers, in Hong Kong need to significantly step up their game if they are to compete with Chinese and US institutions, according to Freeman Tsang, head…
AviaAM Financial Leasing China Concludes $500 Million Aeroflot Project
AviaAM Leasing announced that its joint venture with the Henan Civil Aviation Development and Investment Company (HNCA) – AviaAM Financial Leasing China – has brought a $500 million-worth aircraft delivery project to a conclusion. Eight…
As China Piles on Debt, Consumers Seek a Piece of the Action
Now, it’s Li Jing’s turn. Ms. Li, a 33-year-old car saleswoman here in the middle of China’s declining industrial zone, is one of the growing millions of Chinese using mortgages and credit cards to finance…
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