China has approved Standard Bank Group and the Industrial and Commercial Bank of China (ICBC) to operate Africa’s first Renminbi (RMB) clearing hub, a move expected to make trade and payments between …
Tagged By finance
China sets overnight reverse repo rate steady at 1.25%, sources say
China’s central bank conducted an overnight reverse repo operation on Wednesday by setting the borrowing cost at 1.25%, unchanged from the previous such operation in late June, people with …
ASML Stock Keeps Sliding On China’s Latest Chip Advance — Why BofA Calls Selloff An ‘Overreaction’ And Sees Over 70% Upside
The brokerage says China’s progress in DUV lithography poses only a limited financial risk and sees the recent selloff as a buying opportunity.
China’s New Phase of Financial Statecraft and RMB Internationalisation
China’s latest push to internationalize the renminbi is driven less by ambitions to challenge the U.S. dollar’s global dominance than by efforts to build a more resilient financial system that reduces …
China targets offshore trusts with new tax rules
Personal income tax will be charged on gains in asset values – such as shares and real estate – when these assets are first placed into offshore trusts.
China’s state banks set to profit from early CXMT equity bets amid national tech drive
CCB holds the largest CXMT stake among the five banks at 1.714 per cent while BoC owns the smallest position at 0.38 per cent In line with Beijing’s goal of tech self sufficiency, Chinese investors…
Africa’s largest bank helps China reshape cross-border payments with $1.2 billion in transactions
Standard Bank, Africa’s largest bank by assets, has processed more than CNY8 billion ($1.2 billion) through China’s Cross-Border Interbank Payment System (CIPS), highlighting the growing role of the …
China’s Fang Xinghai Probe Pushes Finance Cases to Over 400
China’s investigation into former securities regulator Fang Xinghai has pushed the number of financial-sector officials and executives ensnared in the country’s anti-corruption campaign to more than …
China’s Fang Xinghai Probe Puts Finance Discipline Cases at 400
China’s investigation into former securities regulator Fang Xinghai has pushed the number of financial-sector officials and executives ensnared in the country’s anti-corruption campaign to more than …
China’s PBOC to conduct overnight reverse repos, inject a total of 2.1 trillion yuan
SHANGHAI, July 24 (Reuters) – China’s central bank said on Friday it would conduct overnight reverse repo operations via the open market from July 29 to 31 and on August 3 to better meet short-term…
OpenLux: How Luxembourg became China’s financial gateway to Europe
Beijing has used Luxembourg to invest tens of billions of euros on a massive scale. By acquiring leading technology companies and strategic real estate, it has woven a network that challenges European …
China’s Central Bank Adds CNY800 Billion Net Liquidity in July, Ending Four-Month Drain
The People’s Bank of China has added a net CNY800 billion (USD118.12 billion) of liquidity into the market this month, ending four straight months of net withdrawals. The bank carried out a CNY500 …
China places former deputy of top financial regulator under investigation
Fang Xinghai, former vice-chairman of the China Securities Regulatory Commission, is undergoing a disciplinary probe, according to state media reports China has placed one of its top former financial …
