A U.S. Navy destroyer sailed near a disputed shoal claimed by China in the South China Sea this week, U.S. officials said on Saturday, and Beijing vowed to take “necessary measures” to protect its sovereignty.…
Tagged By finance
BRIEF-China Internet Nationwide Financial Engages Shearman & Sterling To Investigate Muddy Waters Allegations
Jan 19 (Reuters) – China Internet Nationwide Financial Services Inc: * CHINA INTERNET NATIONWIDE FINANCIAL SERVICES – SPECIAL COMMITTEE ENGAGED SHEARMAN & STERLING TO CONDUCT INVESTIGATION INTO ALLEGATIONS BY MUDDY WATERS LLC Source text for…
China orders banks to stop financing cryptocurrencies as noose tightens around disrupter
The People’s Bank of China has ordered financial institutions to stop providing banking or funding to any activity related to cryptocurrencies, further tightening the noose since its shutdown of crypto exchanges last September sent digital…
China’s non-financial investment abroad falls
29.4% year-on-year drop comes amid govt crackdown on speculative overseas deals BEIJING •China last year posted its first decline in non-financial outbound direct investment since it began publishing the data in 2003, as firms backed…
China Banking Regulator Sees Hidden Dangers To Financial Stability
Imperfect internal control mechanisms in financial institutions, high bad debt and shadow banking have impact on the financial system, Guo Shuqing, chairman of the China Banking Regulatory Commission, told the newspaper People’s Daily in an…
China tightens rules on insurers to fight local government debt risk
In a notice dated Jan. 8, the China Insurance Regulatory Commission (CIRC) and the Ministry of Finance said that while the purchase of local government bonds is encouraged, insurers must not provide financing to local…
China’s local government debt growth almost doubles in 2017
Local government debt expanded again in China last year despite Beijing’s pledge to rein in a growing national debt load that has sparked fears of a financial crisis in the world’s number two economy. The…
Lego partners with Tencent to create games and a social network for children in China
China is a bright spot for Lego, however, with revenues growing double-digit versus declines in the U.S. and parts of Europe in the first half of 2017, the last time it released financial figures The…
$260 billion ‘cryptocalypse’ as cryptos plunge 30 per cent amid fresh China, South Korea fears
China had already banned domestic exchanges and “initial … “guide” them towards an “orderly exit” from the country. Meanwhile, South Korea’s finance minister said a crackdown on cryptocurrencies was still a possibility, describing the current…
China says cross-border cash flows hit turning point in ’17
HONG KONG (AP) — Financial regulators in China say cross-border capital flows hit a turning point in 2017 as foreign currency reserve levels stabilized after two years of declines. Wang Chungying, a spokeswoman for China’s…
War on financial risk to continue
The war on financial risks will continue this year in China, with renewed efforts to crack down on shadow banking activities and further rectification of financial irregularities, said the head of the nation’s banking regulator.…
Opinion/Column: China may force a financial reckoning
Is China about to do the United States a big favor, however unwittingly? According to Bloomberg, China is considering whether to slow, or even stop, purchases of U.S. Treasuries. At $3.14 trillion, China holds the…
China tightens rules on insurers to fight local govt. debt risk
Beijing has taken a series of measures in recent months to rein in local government debt as part of a broader effort by Beijing to reduce financial risks in the world’s second-largest economy. A notice…
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