BEIJING (Reuters) – China hit back on Thursday at recent criticism from the United States about its trade practices, saying some countries’ unilateralism is an unprecedented challenge to global trade. Ministry of Commerce spokesman Gao…
Tagged By finance
China central bank backs mortgage rate hikes in capital
BEIJING (Reuters) – China’s central bank supports a move by some banks to increase lending rates on mortgage loans in the Beijing market, state broadcaster China Central Television (CCTV) on Tuesday quoted the central bank…
China’s bitcoin clampdown is likely here to stay, analysts say
“I see the crackdown on bitcoin as part of this larger multi-agency program to reduce financial sector risk, which will unfold over months and probably years,” said Jim Stent, author of “China’s Banking Transformation.” “I…
Deutsche Bank warning: Global financial CRASH inevitable if Chinese ‘credit bubble bursts’
Strategists at the German bank have indicated China could be the trigger for the next economic downturn as the country’s “fundamental vulnerabilities” remain. Research by the bank’s strategists Jim Reid, Nick Burns, Sukanto Chanda and…
Bank of China permitted to start operations in Pakistan
KARACHI: The State Bank of Pakistan (SBP) has allowed the Bank of China Limited to commence its banking business in Pakistan. Earlier, the SBP issued banking licence to the Chinese bank in May 2017. The…
Chinese Central Bank said to be drafting fresh package of reforms for more financial market opening
China’s central bank is drafting a package of reforms which would give foreign investors greater access to the nation’s financial services industry, according to sources familiar with the matter. The People’s Bank of China will…
Central bank official says China keen to promote use of yuan in commodity pricing
China is keen to raise the profile of its currency in the pricing of commodities, according to a central bank official. The country is studying the “market rules and mechanisms of pricing commodities in yuan…
Amid Beijing’s push to CPEC, Bank of China begins operations in Pakistan
Pakistan’s central bank has allowed the government-owned Bank of China to begin operations in the country. Karachi: Pakistan’s central bank has allowed the government-owned Bank of China to begin operations in the country, amid Beijing’s…
Bank of China : Pak establishes banking channel with China
Pakistan has formally established banking channel facility to facilitate ever increasing trade volume between the two countries as China has become one of the major business partner of Pakistan. In this respect the State Bank…
China hit by financial scam ‘epidemic’
Li Wenxing was starting a new life. In May, the young university graduate left his home in rural China on the offer of work with a software company in the city of Tianjin. But the…
Rising credit-to-GDP gap signals banking system ‘vulnerability,’ warns report
A new international banking report groups Canada with China and the special administrative region of Hong Kong as jurisdictions whose domestic banking systems are at risk from rising debt levels. The Bank For International Settlements,…
China will step up supervision of overseas investment risks – insurance regulator
The China Insurance Regulatory Commission (CIRC) will step up supervision over the use of insurance funds, with focus on “chaos” such as irrational stock market fundraising and overseas acquisitions, said Guo Jing, vice head of…
China PBOC to Draft Package for Financial Market Opening, Sources Say
Central bank is said to convene Tuesday meeting to review plan Package may include allowing majority stakes in local ventures China’s central bank is drafting a package of reforms which would give foreign investors greater…
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