China’s local governments are growing increasingly reliant on money transferred from Beijing to pay for public services, as a drop in tax revenue and jump in Covid Zero costs pushed them further into …
Tagged By finance
China’s New Premier Promises Support for Private Sector
The National People’s Congress has come to a close, with a leadership change putting loyalists to President Xi Jinping in control.
From Data To Finance, China Introduces Structural Reforms
Chinese lawmakers have announced sweeping structural reforms to the country’s top regulatory bodies, from finance to big data.
Silicon Valley Bank collapse hits startups as far away as China
U.S. regulators shut down Silicon Valley Bank on Friday in the country’s second-biggest banking failure. The bank was popular with tech startups, including those based in China and backed by U.S.
China’s Economic Base Is Shrinking, And Dramatically So
It further promises to compound economic ill effects by raising debt levels in this already debt-heavy economy. And there is little Beijing can do to mitigate these unwelcome implications. The crucial …
U.S. banking regulators move to avert financial panic
After a weekend of speculation and anxiety following the collapse of Silicon Valley Bank, federal banking regulators on Sunday night determined that FDIC insurance funds will be used to protect …
China’s new premier tries to reassure private sector amid widespread concerns about future
China’s new premier has tried to reassure the private sector in his debut press conference, as concerns grew about the country’s future policy direction with the introduction of a new cabinet loyal to …
After SVB failure, US acts to shore up banking system confidence
A man puts a sign on the door of the Silicon Valley Bank as an onlooker watches at the bank’s headquarters in Santa Clara, California, U.S. March 10, 2023. REUTERS/Nathan Frandino …
China central bank punts its succession problem
President Xi Jinping is readying a rejig of the financial bureaucracy, having already replaced members of the country’s dwindling reform camp – namely Premier Li Keqiang, economic tsar Liu He and …
Favoring continuity, China reappoints Yi Gang as central bank governor
China on Sunday reappointed Yi Gang as head of the central bank in an effort to reassure entrepreneurs and financial markets by showing continuity at the top while other economic officials change …
Beijing banks on continuity
Opting for continuity in these critical economic roles suggests an emphasis on credibility and stability,” said Mattie Bekink, China director at the Economist Intelligence Corporate Network. “It is …
Beijing retains its central bank chief in surprising move
China yesterday retained its central bank governor in a surprise move, as the country appointed a Cabinet focused on fighting economic headwinds. At a meeting of the Chinese National People’s Congress …
‘Steady Hand’: China Surprisingly Retains Central Bank Chief
Yi Gang attends a news conference on China’s economic development ahead of the 70th anniversary of its founding, in Beijing, China September 24, 2019. REUTERS/Florence Lo Reuters BEIJING (Reuters) – …
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