BEIJING, Sept 13 (Reuters) – China removed central bank official Xu Hongcai from the position of vice finance minister, the human resources ministry said in a statement on Wednesday. Xu is a member of the…
Tagged By finance
China’s central bank conducts 65-bln-yuan reverse repos
BEIJING, Sept. 13 (Xinhua) — China’s central bank conducted 65 billion yuan (about 9.04 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.8 percent Wednesday. The move aims to …
China’s Local Governments Are So Cash-Strapped They Use Police to Raise Revenue
Local authorities are imposing larger fines and seizing assets to help boost their coffers. In some cases, police have gone after alleged offenders hundreds of miles away.
China’s growth is buried under great wall of debt
Where is Wen Jiabao when you need him? China’s former premier is remembered for his decision to unleash a huge state spending plan after the 2008 financial crisis. Today’s leaders wish they could …
Ex-Chairman of Top China Insurer Given Suspended Death Sentence
China sentenced the former head of the nation’s largest life insurer to death with a two-year reprieve, as President Xi Jinping’s crackdown on corruption in the financial industry continues. Wang Bin, …
L’Oreal cut to sell as Deutsche Bank flags China risks
Shares of European luxury goods groups pressured the French stock-market on Tuesday after L’Oreal was downgraded by Deutsche Bank.
China growth optimism slumps back to ‘lockdown lows’; big stimulus unlikely, says BofA survey
China’s central bank and financial regulator recently issued notices to ease some borrowing rules to aid homebuyers, including lowering the existing mortgage rate for first-home buyers and the down …
Walter Isaacson’s new Elon Musk biography is already taking off in China
BEIJING — Walter Isaacson’s new biography of Elon Musk hit the Chinese market Tuesday, several hours ahead of the U.S. release due to a time difference that puts Beijing 12 hours ahead of New York.
China aims to increase supply of high-end electronic devices
China aims to increase the supply of high-end electronic devices to boost consumption and bolster the economy, according to a plan jointly issued by the …
China’s central bank to scrutinise bulk dollar purchases – sources
The central bank has warned some lenders of their huge dollar purchases on behalf of their corporate clients, according one of the other sources.
China Stock Traders Load Up on Leverage With New Rule Relaxation
Leveraged China equity positions saw their biggest daily increase in over three years on Monday as new rules took effect that lower the deposit ratio for high-risk trades including short sales.Most …
China is likely headed for a full-blown financial crisis as its economy is due for wilder swings, market expert says
“In this scenario, the next big step for China is a full-blown financial crisis,” Sharma wrote. Amid a growing list of headwinds sweeping through China’s economy, its property market is a leading …
‘Contagion’: Inside China’s $4.5 trillion ‘shadow’ banking crisis
It’s one of China’s largest trusts, responsible for $136 billion of client investments. In total, China’s shadow banking sector manages about $4.5 trillion. “The risk of contagion is high because …
