By Kimberley Kao China Citic Bank’s net profit rose 7.9% in 2023, even as its top line fell. The China-based lender posted net profit of 67.02 billion …
Tagged By finance
Xi’s Corruption Crackdown Targets China’s Embattled Finance Sector
The Chinese president says he will root out deep-seated malfeasance in the finance, banking and state-owned sectors despite fears over the delicate state of the economy.
China is weighing measures to prop up its stock markets, could reportedly mobilize $278 billion
China is weighing a rescue package backed by offshore money to stave off a slump in its struggling stock markets, according to Bloomberg News.
China’s financial hub Shanghai targets around 5% GDP growth for 2024
SHANGHAI – China’s financial hub Shanghai has set its regional gross domestic product (GDP) growth target at about 5 percent for 2024, according to the annual session of the municipal people’s …
China Weighs Stock Market Rescue Package Backed by $278 Billion
Chinese authorities are considering a package of measures to stabilize the slumping stock market, according to people familiar with the matter, after earlier attempts to restore investor confidence …
China weighs stock market rescue package backed by two trillion yuan
CHINESE authorities are considering a package of measures to stabilise the slumping stock market, according to sources familiar with the matter, after earlier attempts to restore investor confidence …
China considers stock market rescue package worth $278 billion: Report
Chinese authorities are considering measures to stabilize the slumping stock market, including mobilizing 2 trillion yuan ($278 billion) from offshore accounts of state-owned enterprises and investing …
China’s Economy: Navigating the Catch-22 Dilemma and Investment Opportunities
As Michael Pettis, a finance professor at Peking University, aptly describes, “If the economy does badly, confidence is weak. If confidence is weak, spending is low. If spending is low, the economy …
Xi’s Corruption Crackdown Targets Embattled Finance Sector
Since rising to power a decade ago, Xi has waged a constant campaign against deep-seated graft that has led to the punishment of at least 4.7 million officials, according to a 2022 report by the…
Xi Jinping’s crackdown on official corruption has ripped through a secretive missile force, the Communist Party elite, the national football team, and now risks hammering a …
Since rising to power a decade ago, Xi has waged a constant campaign against deep-seated graft that has led to the punishment of at least 4.7 million officials, according to a 2022 report by the…
World’s Largest Bank To Pay $32,400,000 for Violating Bank Secrecy Act, Backdating Documents and Exposing Confidential Information
The Federal Reserve and New York Department of Financial Services (DFS) just announced a multi million-dollar settlement with a Beijing-based banking giant.
‘It’s really bad’: China strategist warns of deflation and rock-bottom consumer confidence
The world’s second-largest economy has faced a slower-than-expected recovery in 2023 after exiting Covid-19 restrictions.
China’s Premier Orders More Measures to Arrest Stock Rout
China’s Premier Li Qiang asked authorities to take more “forceful” measures to stabilize his country’s slumping stock market and investor confidence, after the mainland’s benchmark CSI 300 Index hit a …
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