The news agency said there were “enormous prospects” for applying this new generation of communications in defence and finance. China still lags behind the United States and Russia in space technology, although President Xi Jinping…
Tagged By finance
China opening up financial industry
A ceremony was held in Dubai in July 2015 to celebrate the launching of yuan-denominated bonds by Bank of China. [Photo provided to China Daily] Mainland quickens the pace of change to spur growth and…
China’s banks swap 1 trillion yuan of debt into stocks, extending financial life line to state debtors
China’s banks converted more than 1 trillion yuan (US$149.2 billion) of debt into stock holdings in more than 70 state-owned enterprises, in the government’s largest debt-to-equity swap effort to bail out the country’s most indebted…
The firm behind one of the top China analysts in the world is warning of a ticking time bomb
China has shown signs that it is aware of the risks that shadow banking presents. In a recent interview with Bloomberg, Chu stated that Beijing has shown a “surprisingly high appetite for pain” as it…
Visa applies for direct access to China’s bank-card clearing market as it moves to challenge UnionPay dominance
Visa expects the central bank to consider its application in line with the publicly … will for sure means fiercer competition,” said Wang Pengbo, an analyst with Beijing-based consultancy Analysys. “Yet, it still an uncertainty…
China’s rules on overseas bank card transactions to have limited effect on users
BEIJING – China’s new rules on overseas bank card transactions will have a limited effect on card holders as they aim only to gather information to curb money laundering, not spending, an official said Tuesday.…
China Is Taking On the `Original Sin’ of Its Mountain of Debt
In July, the bank watchdog is said to have told some lenders to cut the … investments — funds that Chinese lenders farm out to external asset managers — and Beijing recently extended the deadline…
Finance news you need to know today
BEIJING — China will pay the biggest price from the new UN … KUALA LUMPUR — Malaysia’s government has launched an inquiry into massive foreign exchange losses by the central bank more than two decades…
Interview: Yassin Fawaz
These include the notorious Bank of Dandong, considered a primary tool of the regime … Washington needs to maintain strong pressure on China, to constantly urge a more assertive role by Beijing to force North…
Carrie Lam meets banking and financial heavyweights in Beijing
Meeting mainland financial authorities in Beijing is a good start for her term, The Chief Executive Carrie Lam Cheng Yuet-ngor said yesterday met the mainland’s commerce minister, as well as leading banking and financial officials…
China central bank chief economist to leave, switch to academic role: sources
BEIJING (Reuters) – The chief economist at China’s central bank, lured three years ago from the private sector into a tailor-made job to improve communication with markets, is set to move to a related academic…
China’s bank regulator lets crackdown deadline slip amid concerns it would weaken some lenders, sources say
China’s banking regulator extended its June deadline by two months for some banks to submit risks assessments, two sources said Some lenders met the deadline and adjusted their operations based on the assessments, but others…
China’s Debt Crackdown Gets a Big Shrug From Global Investors
The Chinese leadership has this year made its strongest commitment yet to curb financial risks and rein in spendthrift local officials, yet the campaign has spurred barely a ripple of concern among global investors. In…
