BEIJING/WASHINGTON (Reuters) – China has pledged to end market-distorting subsidies for its domestic industries but offered no details on how it would achieve that goal, according to three people fami… ( read original story …)
Tagged By financials
China’s Ant Financial acquires int’l payment firm WorldFirst
LONDON, Feb. 14 (Xinhua) — Ant Financial, an Alibaba affiliate, announced on Thursday it has taken over UK-based international payments group WorldFirst, marking the most significant foreign fintech … ( read original story …)
Rising household debt in China could threaten growth and financial stability, Fed economists warn
Household debt in China has been rising over the last decade. It could pose risks to growth and financial stability, according to economists at the Federal Reserve Bank of New York. Beyond the … (…
How China’s JPMorgan Wannabe Became a $34 Billion Debt Risk
… supposed to be China’s answer to JPMorgan Chase & Co. But less than five years after China Minsheng Investment Group Corp. outlined plans to become a financial colossus, the company has instead tu… (…
China poses most significant strategic threat to United States, say Pentagon, Senators
“China represents the greatest long-term strategic threat to a Free and Open Indo-Pacific and to the United States,” said US Indo-Pacific Command chief Adm Philips Davidson, while testifying before th… ( read original story …)
China launches inspection of bond default risk
China’s state planning agency will investigate corporate bond issuers’ ability to repay maturing notes, a sign of Beijing’s concern about financial risks amid a slowing economy and tight liquidity tha… ( read original story …)
China, HK stocks gain on respite from trade woes
China’s blue-chip CSI300 index rose 1 percent to 3,364.73, its highest point since Sept. 28, 2018. ** CSI300’s financial sector sub-index rose 0.8 percent, the consumer staples sector edged up 0.2 per… ( read original…
Hong Kong to allow extradition of criminals to China for first time
He added that anyone who transferred through Hong Kong airport, a major international hub, would be at risk of extradition to China under the amendment. He said the case of Meng Wanzhou, the chief fin……
Financial products keeping step with surging demand
Financial firms have also set lending caps to prevent defaults. Half of the borrowers have a spending limit of 2,000 yuan or below. China’s consumer finance market is projected to grow to $1.6 trillio… (…
China’s Huawei soft power push raises hard questions
The cheery corporate message contrasts with the standoff over the arrest of Huawei Chief Financial Officer Meng Wanzhou on a U.S. warrant. In what looks like retaliation, China detained two Canadians … ( read original…
Trump pick for World Bank chief spent years criticizing its mission
If confirmed to run the bank, Malpass would seek to reduce lending to middle … of the state in China’s economy and has participated in ongoing trade talks with Beijing. But he was forced into…
Mnuchin in Beijing for crunch US-China trade talks
Mnuchin appeared at a Beijing hotel a couple of days ahead of scheduled high … President Donald Trump’s nominee to lead the World Bank, in negotiations set for Thursday and Friday. China’s delegatio… ( read…
US, China envoys hold last talks before March 1 deadline
Beijing has tried to deflect pressure by emphasizing China’s growth as an export market. It has announced a series of changes over the past year to open finance and other fields, including allowing fu… (…
