GoTo commits to the Alibaba Cloud, and Alibaba promises not to sell its stake Chinese tech giant Alibaba showed it’s not just Meta, Google and Amazon that can use their financial heft to buy a…
Tagged By finance
China fines PwC over illegal audit service for Evergrande
CHINA’S Ministry of Finance (MOF) and the China Securities Regulatory Commission (CSRC) on Friday announced ‘maximum’ penalties on global auditing firm PricewaterCoopers (PwC) over its failure to …
How China’s ‘Shein village’ grabbed the fast fashion supply chain
Thousands of factories depend on the retailer but rivals are putting pressure on a model based on speed and thin margins …
Bank of China supports start-ups, SMEs in Hengqin to diversify Macau-area economy
BOC has supported start-ups and SMEs in Hengqin as part of the country’s effort to diversify Macau’s economy, a senior executive said. Bank of China has supported the expansion of start-ups and small- …
Cash-strapped Sri Lanka eyes China development
Sri Lanka’s economic collapse was partly blamed on struggling high-debt Chinese mega-projects, but candidates in Saturday’s presidential election are banking on at least one of them to buck the trend.
China’s Central Bank Delays One-Year Loan Operation Again
(Bloomberg) — China’s central bank announced it will inject one-year liquidity to domestic lenders on Sept. 25, marking another delay amid a broad overhaul of its policy toolkit. Most Read from …
Beijing subway enables payment by foreign bank cards
Beijing has upgraded more than 20,000 pieces of equipment at subway stations to facilitate the new payment initiative, which was announced at the 2024 China International Fair for Trade in Services, …
Beijing’s top diplomat in Hong Kong to address British Chamber of Commerce in first keynote speech
Cui Jianchun will ‘share the spirit’ of the Communist Party’s third plenary session of the 20th Central Committee and its ‘implications for international business in Hong Kong’.
Why China is seeking greater presence in Africa – the strategy behind its financial deals
China’s relationship with Africa is set to deepen. At a summit in Beijing in early September, China’s president, Xi Jinping, pledged to deliver US$51 billion (£39 billion) in loans, investment and aid …
China’s yuan will never replace America’s dollar
The Chinese yuan is not going to replace the US dollar. Let’s get that out of the way straight up. Russia and China’s attempts to push their currencies onto the global stage sure is impressive,…
Is Beijing about to ‘play the Ryukyu card’ over Tokyo’s stand on Taiwan?
Chinese academics are calling for new emphasis on Ryukyu, linking the ancient kingdom that is now Japan’s southernmost prefecture of Okinawa with China’s national security. Observers say the push …
In the High-Stakes Bet Against US Dollar China’s Banks May Face Significant Losses
In the ongoing competition between China and the United States, a new front has emerged, centered around the US dollar. China is betting big on the fall of the US dollar, using its banks as…
PwC China stops work on $210m campus as Evergrande crisis mounts
A lavish training institute on the tropical island of Hainan is under review as the firm reels from fallout from its audits of the failed property developer.
