Lou had overseen a restructuring of local-government finances that helped cut the cost of a record accumulation of debt by cities and provinces after the global financial crisis. Sotheby’s signs deal with ‘Zillow of China’,…
Tagged By finance
China’s New Finance Minister Faces a Juggling Act
China’s new finance minister Xiao Jie inherits from his reformist … to reduce the cost of a record amount of debt run up by provinces after the global financial crisis. But his plans to clamp…
Financial risk may be China's gift to next president
Back in 2008, incoming President Barack Obama inherited a US financial crisis that was to some degree made in China. The next US president may well confront a Chinese financial crunch with its origins in…
AgBank fine shows China banks still flunking compliance test
BEIJING (Reuters) – Last week’s $215 million (173 million pound) fine for Agricultural Bank of China Ltd (AgBank), the third big Chinese bank disciplined by U.S. regulators in 16 months, shows Chinese lenders still falling…
China intervenes in Hong Kong legal system in boldest move yet
China’s parliament passed an interpretation of Hong Kong … The scenes on Sunday night were reminiscent of pro-democracy protests in late 2014 that paralyzed parts of the Asian financial centre and posed one of the…
China just got rid of its finance minister
China just removed a top official who’s played an important role in trying to reform the country’s debt-laden economy for the past three years. In a one-line statement, the government said Finance Minister Lou Jiwei…
China’s AgBank Fined $215 Million for Hiding Transactions
China’s third-largest lender tried to obscure the trail of dollar transactions by Russian, Chinese and Middle Eastern clients and attempted to silence a compliance officer who raised alarms about it, according to New York’s banking…
China Names New Finance Minister to Replace Veteran Lou Jiwei
China has replaced veteran reformer Lou Jiwei with a new finance minister who’ll be tasked with juggling fiscal stimulus and efforts to rein in excess leverage in the world’s second-largest economy. Xiao Jie, previously a…
China launches $11 billion fund for Central, Eastern Europe
BEIJING (Reuters) – China has set up a 10 billion euro ($11.15 billion)investment fund to finance projects in Central and Eastern Europe, Industrial and Commercial Bank of China (Shanghai:601398.SS – News) (HKSE:1398.HK – News) said…
China launches 10 billion euro fund for Central, Eastern Europe
BEIJING (Reuters) – China has set up a 10 billion euro ($11.15 billion)investment fund to finance projects in Central and Eastern Europe, Industrial and Commercial Bank of China said in a statement issued on Sunday.…
In a Boost to Bitcoin, Study Shows Chinese Consumers Need More Financial Services
With the estimated $650bln being the most likely scenario and the growth in Chinese financial services likely to add as much as $950bln to Chinese consumption over the next decade, the growing influence of China…
John China Sells 1,200 Shares of SVB Financial Group (SIVB) Stock
SVB Financial Group (NASDAQ:SIVB) insider John China sold 1,200 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $124.40, for a total transaction…
Risk of China crisis grows as credit boom faces correction
Can China avoid a financial crisis? That’s the question facing regulators and investors after a rapid rise in leverage in the world’s second-largest economy. The links between the official banking system and shadowy institutions have…
