Rather than following traditional regulatory methods of nationalizing Anbang or forcing its sale to another financial firm, Hirson pointed out that Beijing chose to have a committee of regulators run Anbang for at least a…
Tagged By finance
Systemic approach urged to prevent financial risks
China should adopt a systemic approach to prevent financial risks amid a lack of coordination among different regulatory agencies, a central bank advisor said. “We have rolled out many measures and guidelines to tackle financial…
China puts responsibility for battery recycling on makers of electric vehicles
SHANGHAI (Reuters) – China will make manufacturers of electric vehicles (EV) responsible for setting up facilities to collect and recycle spent batteries, as part of its efforts to tackle mounting waste in the sector, say…
Financial literacy of consumers in focus
Senior citizens enquire about wealth management products at a financial expo in Beijing. [Photo by Fan Jiashan/For China Daily] BEIJING－Financial literacy has become a catchphrase in China after decades of reform and opening up, with…
China cuts banking red tape to rally foreign investment
BEIJING: China’s banking regulator has introduced steps to cut the red tape for foreign banks, state media agency Xinhua said on Saturday, as part of the government’s ongoing effort to promote investment in the country’s…
Chinese banks poised for better times thanks to rising interest income, analysts say
Morgan Stanley estimates net interest margins at Ping An Bank and Beijing-based Hua Xia Bank dropped by 35 and 38 basis points respectively last year. In contrast, Postal Savings Bank of China, which has a…
CPAC: Frank Gaffney Warns of China Waging ‘Unrestricted’ Financial, Cyber War on U.S.
The communist People’s Republic of China has been waging “unrestricted war” against the United States as its top financial and cyber adversary, cautioned national security expert Frank Gaffney during a 2018 CPAC event Friday. Gaffney…
Xi Jinping’s trusted confidant, Harvard-educated Liu He emerges as frontrunner for China’s central bank
BEIJING (Reuters) – Liu He, a Harvard-trained economist who is a trusted confidant of Chinese President Xi Jinping, has emerged as the front runner to be the next governor of the People’s Bank of China…
Beijing cracks down on financial giant Anbang to protect rights and interests of consumers
Beijing has cracked down on insurance and financial giant Anbang, taking control of the conglomerate and prosecuting the firm’s head. Wu Xiaohui, who was already detained by authorities last June, is to face prosecution for…
Anbang seizure shows China’s resolve for financial stability
BEIJING/SHANGHAI — China’s de-facto takeover of Anbang Insurance Group shows the government will take any steps necessary to stave off shocks to the financial system, suggesting even tougher times await financial conglomerates with massive overseas…
Pakistan back on terror financing watchlist as China stays silent
NEW DELHI: China stayed neutral as Pakistan was put back on an international terrorism financing “grey list”, three years after it was removed from that list. As the plenary meeting of the Financial Action Task…
China’s central bank continues to inject liquidity into market
BEIJING, Feb. 23 (Xinhua) — The People’s Bank of China, the country’s central bank, pumped 230 billion yuan (about 36 billion U.S. dollars) into the financial system through open market operations Friday. The operations will…
World Bank : Promoting a More Inclusive and Sustainable Development for China
BEIJING, February 22, 2018-China can achieve more inclusive and sustainable development with coordinated reforms across a broad range of areas that maximize development impact and address its development challenges, says the World Bank Group’s new…
