The bank said it had strengthened its internal checks and that the settling of the case did “not imply any admission of guilt”. For European countries, meanwhile, the investigations pose the risk of diplomatic conflict…
Tagged By finance
LeEco and Founder Jia Yueting Hit With More Frozen Assets
(Beijing) — China’s cash-strapped tech giant LeEco suffered another blow as a Beijing court backed China Construction Bank’s request to freeze 250 million yuan of assets owned by Leshi Internet Information & Technology Corp., LeEco’s…
China’s strategy in the South China Sea involves military force and economics
In the Philippines, meanwhile, Reed Bank is needed to replace the primary source currently … Hanoi is wary of having nationalist political forces push it into an unwanted confrontation with Beijing. Fresh on Hanoi’s mind…
Time right to loosen controls on yuan-dollar exchange rate, says China state-run paper
China’s central bank efforts to defeat those who bet on a big slump in the yuan, while successful at face value, have also invited suspicions over whether Beijing is peddling back on its market-oriented liberalisation…
China central bank finds 40 banks in violation of interbank rules: Caixin
BEIJING (Reuters) – China’s central bank has found 40 banks in violation of interbank account regulations and have ordered them to rectify the problem within three to six months, financial magazine Caixin reported on Tuesday,…
China central bank to ensure smooth, orderly deleveraging, assistant governor says
BEIJING (Reuters) – China’s central bank will continue to force financial institutions to cut debt but ensure the process is smooth and orderly to limit its impact on market liquidity, an assistant central bank governor…
China’s overall debt levels still high, central bank official says
BEIJING (Reuters) – China’s overall debt levels are still high, despite initial results achieved by its deleveraging efforts, a central bank official said in the bank’s China Finance magazine on Monday. China will strengthen coordination…
Signs mounting of traditional build-up to serious financial crisis, which is just being put off with another bout of easy credit
Was it really a dereliction of duty on the part of regulators not to close the market in early 2015 when the authorities in Beijing were chortling about how greatly the general public was helping…
China’s Financial Missteps Continue
The financial missteps in China have continued and it will only be when their economy falters that we will learn to what extent or hear more stories about how they have masked their problems. China…
China orders insurer Anbang to sell foreign assets: report
Beijing (AFP) – China has ordered Anbang Insurance Group, the conglomerate which owns New York’s historic Waldorf Astoria hotel, to sell its overseas assets, Bloomberg News reported Monday. The financial news agency, which cited unidentified…
How China’s biggest bank became ensnared in a money laundering probe
Established residents and an influx of new immigrants, many from Qingtian County in China’s Zhejiang Province, found that the global financial crisis provided an ideal opportunity to expand. Their goods were cheap and Spanish businesses…
China c.bank to ensure smooth, orderly deleveraging, assistant governor says
BEIJING, July 31 (Reuters) – China’s central bank will continue to force financial institutions to cut debt but ensure the process is smooth and orderly to limit its impact on market liquidity, an assistant central…
Exclusive: China Construction Bank nominates Bank of China boss to be its next chairman – sources
… as top bosses at China’s powerful big four state banks normally get promoted to high-ranking positions at China’s financial regulatory bodies, said a source familiar with the matter. Tian was previously widely regarded in…
