Chinese banks have frozen the accounts of more than 100 commodities traders in northeast Myanmar in a bid to clamp down on smuggling and illegal gambling, state media reported Tuesday. Myanmar’s government has been negotiating…
Tagged By finance
Protectionism hurts China’s financial sector, opening helps: PBOC’s Zhou
SHANGHAI Healthy financial institutions are a prerequisite for preventing a financial crisis, and further opening will help build a strong and competitive financial sector, China’s central bank governor Zhou Xiaochuan said on Tuesday. Speaking at…
Protectionism would compromise China’s financial sector, says PBOC governor
China’s financial services industry had benefited from opening up, and must continue to do so, said PBOC governor Healthy financial institutions are a prerequisite for preventing a financial crisis and further opening will strengthen the…
China hopes fourth time is the charm for MSCI inclusion
China’s benchmark Shanghai Composite Index has struggled this year amid a government campaign to cut risk in the financial sector and waning interest by the nation’s army of individual investors. The gauge has fallen more…
S. Korea Finance Chief Hopeful of Easing Tensions With China
South Korea’s new finance chief said he hopes China and his country can put aside their political rift to forge closer economic ties, and bring about an early end to China’s action against Korean companies…
China-backed Asian infrastructure bank touts growth, sustainability
Leaders of the China-backed Asian Infrastructure Investment Bank touted its growing membership and commitment to sustainable development at its annual meeting, even as environmental groups were disappointed by its openness to investing in coal projects.…
South Korea Finance Chief Hopeful of Easing Tensions With China
Kim says Korea-U.S. free trade is mutually beneficial South Korea’s new finance chief said he hopes China and his country can put aside their political rift to forge closer economic ties, and bring about an…
Pilot zones will boost green finance
Incentives will be established to boost the development of green finance, especially interest discounts and tax incentives, from the central and local governments, Chen Yulu, vice-governor of the People’s Bank of China, said during a…
Hong Kong pushing for regional AIIB office, says finance chief
Hong Kong, which last week joined the Beijing-led Asian Infrastructure Investment Bank by agreeing to pay US$155 million over five years, is now lobbying the AIIB to set up a regional office in the city,…
Securitization boom exposes China’s slapdash deleveraging efforts
Bank of Tianjin issued an ABS in July 2015 that was created from loans to just 22 borrowers, with lending to Shandong Shanshui Cement Group, a struggling cement maker, accounting for 12 percent of the…
Meet the Chinese Finance Giant That’s Secretly an AI Company
If you get into a car accident in China, you can simply pull out your smartphone, take a photo, and file an insurance claim with an AI system. That system, from Ant Financial, will automatically…
Anbang’s Chairman, China’s Financial Repression, Proving Milton Friedman Right Once Again
Quite why the Chinese police have decided to detain Wu Xiaohui, the Chairman of Anbang, is unknown. Certainly, he tried to do a deal with Jared Kushner but despite the lurid imaginings of some on…
How Anbang Could Clog China’s Financial Plumbing
China’s decision to detain the chairman of Anbang Insurance Group, one of the country’s most acquisitive companies, is stunning in itself. The knock-on effects on the Chinese financial system could deepen the drama. The initial…
