BEIJING Washington’s move to shut off Bank of Dandong from the U.S. financial system punishes a small regional Chinese lender with what U.S. authorities say has been an outsized exposure to North Korea and its…
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Trump administration blacklists Chinese bank as the White House ramps up pressure on North Korea’s nuclear missile ambitions
The United States on Thursday blacklisted a small Chinese bank accused of illicit dealings with North Korea, escalating the pressure on Beijing to rein in its wayward ally amid increased signs that President Donald Trump…
US sanctions Chinese bank for laundering N.Korean cash
The United States slapped unprecedented sanctions Thursday on a Chinese bank accused of laundering North Korean cash after President Donald Trump said Beijing’s efforts to put the brakes on Pyongyang’s nuclear drive had failed. As…
U.S. blacklists Chinese bank over North Korea dealings, raising pressure on Beijing
Anthony Ruggiero, a sanctions expert and former Treasury Department official, described it as a small Chinese bank “sitting at the heart” of trade between North Korea and China. “This is a strong message to Chinese…
With bank sanctions and arms sales, US hardens line on China
Under the policy, the U.S. recognizes Beijing as the sole government of China but maintains strong unofficial ties with Taiwan and remains the island’s main supplier of defense equipment. Meanwhile, the Treasury Department proposed to…
Global coordination important as world economy changes: China vice finance minister
BEIJING Global coordination is important as the world economy undergoes changes, including the latest increase in U.S. interest rates earlier this month, China’s Vice Finance Minister Zhu Guangyao said ahead of a G20 summit of…
US blacklists China bank, revving up pressure over North Korea
The Trump administration has blacklisted a small Chinese bank accused of illicit dealings with North Korea, escalating pressure to get Beijing to rein in its wayward ally. The Treasury Department says that the Bank of…
China central bank to skip open market operations for fifth straight day: statement
SHANGHAI China’s central bank said it will skip open market operations for the fifth day in a row on Thursday, as liquidity levels in the banking system were “relatively high”. “Fiscal expenditure was increasing towards…
China can control financial risks as debt rises: Li
BEIJING: China’s premier on Tuesday tried to quell fears surging debt might threaten growth, saying financial risks are “generally under control” and Beijing can achieve this year’s development targets. Speaking at a meeting of the…
Tourist trap: China’s surpluses may be bigger than thought
“Financial outflows concealed as travel imports are large and significant, growing to around 1 percent of China’s GDP in 2015 and 2016, and account for a quarter of recorded net private financial outflows,” she wrote.…
China frees 3 activists who probed Ivanka Trump supplier
GANZHOU, China — Chinese authorities have released on bail three activists who had been detained after investigating labour conditions at a factory that produced shoes for Ivanka Trump and other brands. The three activists walked…
China’s huge debt bubble risk to Britain’s stability, warns Bank of England
in its biannual financial stability report. “Vulnerabilities in China remain pronounced” according to the report and the Bank listed the country as one of a number of risks to Britain’s economy. China’s debt has now…
China confronting its financial risks, premier says
DALIAN, China — Beijing possesses the tools to avert damage that could result from the financial risks facing the world’s second-largest economy, Chinese Premier Li Keqiang said Tuesday at the World Economic Forum here. Li,…
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