Beijing has cracked down on insurance and financial giant Anbang, taking control of the conglomerate and prosecuting the firm’s head. Wu Xiaohui, who was already detained by authorities last June, is to face prosecution for…
Tagged By financials
Anbang seizure shows China’s resolve for financial stability
BEIJING/SHANGHAI — China’s de-facto takeover of Anbang Insurance Group shows the government will take any steps necessary to stave off shocks to the financial system, suggesting even tougher times await financial conglomerates with massive overseas…
Pakistan back on terror financing watchlist as China stays silent
NEW DELHI: China stayed neutral as Pakistan was put back on an international terrorism financing “grey list”, three years after it was removed from that list. As the plenary meeting of the Financial Action Task…
China’s central bank continues to inject liquidity into market
BEIJING, Feb. 23 (Xinhua) — The People’s Bank of China, the country’s central bank, pumped 230 billion yuan (about 36 billion U.S. dollars) into the financial system through open market operations Friday. The operations will…
World Bank : Promoting a More Inclusive and Sustainable Development for China
BEIJING, February 22, 2018-China can achieve more inclusive and sustainable development with coordinated reforms across a broad range of areas that maximize development impact and address its development challenges, says the World Bank Group’s new…
Russia’s central bank gold hoard is now bigger than China’s
Russia has overtaken China as the fifth-biggest sovereign holder of gold, allowing it to diversify its foreign currency holdings amid a deepening rift with the U.S. The Bank of Russia in January increased its holdings…
Recent Surge In Chinese Bank Credit Reflects Necessary Crackdown On Shadow Banking
In addition, large-scale, sustainable growth does not appear to be on the horizon as China continues to struggle with high levels of debt and insufficient reform. Shadow banking has retrenched somewhat due to increased regulatory…
China tries to bring order to sprawling online finance sector
SHANGHAI — China’s 1.2 trillion yuan ($189 billion) internet finance industry has reached a turning point as regulators tighten regulations after one too many cases of bankruptcy and fraud. Some analysts are predicting a shakeout…
Xi picks team of problem solvers to head China’s economic portfolios
His team will comprise economic technocrats drawn from China’s banking and financial system, appointed to various senior positions to oversee the country’s central bank, lenders, as well as the stockbroking and insurance industries. While the…
Islamic Development Bank to join forces with China-led AIIB
The largest development organisation in the Muslim world, the Islamic Development Bank, is set to ramp up its fundraising activities and form a partnership with the China-led Asian Infrastructure Investment Bank to address a yawning…
China’s Brics-Plus partnership could transform global trade
China, South Africa (Brics) is becoming the glue for new inter-regional trade alliances. However, despite the creation of a common New Development Bank by the Brics, and other initiatives to boost economic ties between members,…
China Exports Hold Up as Commodities, Base Effects Boost Imports
Economist Takeaways “High imports are related to base effects and rising commodities prices, which may give a lift to domestic inflation this year,” said Liao Qun, chief economist at China Citic Bank International Ltd. in…
MARKET BUZZ: Tencent, China Banks Lift Hong Kong’s HSI
HONG KONG (Feb 21) — Hang Seng up 0.7% at 31,094.98, led by mainland lenders and Tencent. China Construction Bank, Bank of China and Industrial & Commercial Bank of China rise by at least 1.2%…
