BOC, China Life, PICC, China Taiping and China Cinda did not immediately respond to a request for comment. The MOF is the biggest shareholder in more than 20 large state financial institutions …
Tagged By finance
China’s Sweltering Heat Pushes Shanghai Power Demand to Record
(Bloomberg) — Punishing heat throughout southern China is stressing power networks and farmland as extreme weather continues to exact a deadly toll in the world’s second-biggest economy. Most Read …
Shouldn’t the world thank China for producing too much stuff?
Overcapacity could be said to characterise Swiss exports of financial services, French exports of champagne and US exports of civil aircraft. Yet overcapacity has become a negative buzzword solely …
Saudi Fund’s Multibillion-Dollar Bank Deals Deepen China Push
Saudi Arabia’s wealth fund signed preliminary agreements worth as much as $50 billion with six Chinese financial institutions, in the latest example of the kingdom’s deepening ties with Beijing. The …
China eyes yachts, esports and ‘low-altitude flying’ to boost consumer spending
Tourists gather at a hot air balloon festival on July 29 in Zhangye, China. Kong Linsheng—VCG via Getty Images China’s government on Saturday laid out its priorities to spur consumer spending as weak …
China’s financial regulator slaps fines on 17 banks over irregularities
China’s banking and financial regulator has imposed fines of more than 17 million yuan ($2.37 million) on 17 banks for breaching regulations on loan management products and lending, a latest move to …
China issues plan to boost household consumption
China’s State Council released directives to boost household consumption including sectors like child and elder care, and food and beverage. Authoriti …
To revive the economy, China wants consumers to buy better stuff
China is different. In the world’s second-biggest economy, inflation is too low, investment is excessive and interest rates are falling. The government’s most urgent economic task is to encourage …
World’s biggest lithium producer urges state help to compete with China
The world’s largest lithium producer, Albemarle, has urged governments to intervene to loosen Chinese dominance of the market for the minerals that power electric cars.
China investigates executives of state-owned energy and finance companies
Four current and former senior executives of China’s state-owned enterprises in sectors including finance and energy have been placed under investigation for alleged corruption. They are Zuo Zuqing, …
Hong Kong signs agreement with People’s Bank of China to enhance Faster Payment System
The Hong Kong Monetary Authority (HKMA) has signed an agreement with the Chinese central bank to promote cross-border linkages for the Faster Payment System (FPS), creating a framework for …
Former Global Times top editor Hu Xijin goes dark on social media after now-deleted article on China’s economic strategy
At the heart of the matter is a now-deleted article by Mr Hu, weighing in on the outcomes of the recent third plenum. He had written that the omission of a phrase long enshrining the…
China Rejects $1 Trillion Housing Rescue Plan Proposed by IMF
In its annual review of the world’s second-largest economy published Friday, the IMF urged China to use “one-off” fiscal resources …
