HONG KONG, July 10 (Reuters) – China’s Ministry of Finance is conducting more rigorous checks of work done by the Big Four auditing firms for local companies, three people with knowledge of the matter …
Tagged By financials
China’s banking turmoil: 40 banks vanish as crisis deepens
The Chinese banking sector is facing a severe crisis. In just one week, 40 banks disappeared, and the collapse of Jiangxi Bank has further deepened the sector’s problems. Experts warn that the …
How Xi Can Shock the World With Big-Bang Moves at China Plenum
China has the firepower to end its housing crisis at a high-stakes policy meeting, including with a “big-bang solution” that involves pumping money like the Federal Reserve. But it’s unlikely to pull …
China dials up scrutiny of Big Four audit firms after Evergrande probe, sources say
China’s Ministry of Finance’s scrutiny is mainly focused on Deloitte, EY, PwC, KPMG and their audits of some financial firms as well as highly leveraged companies.
China Watchdog to Tighten Stock Trading Rules to Boost Oversight
Meanwhile, China Securities Finance Corp., the country’s biggest stocks lending provider, will suspend its securities lending business starting July 11, with outstanding contracts to be settled by the …
Finance is No Longer the Darling Career in Xi Jinping’s New Economic Order
In tandem with these measures, Beijing has introduced salary caps for financial professionals … The dream of a lucrative and stable career in finance has turned into a challenging and uncertain …
China eases onshore bond collateral control for Swap Connect
A senior official from the People’s Bank of China (PBOC) says the bank will allow overseas investors to use onshore bonds issued by the Ministry of Finance and China policy banks as margin collateral for…
Beijing to probe EU trade barriers after bloc’s crackdown on Chinese subsidies
“[This is] a normal move in trade negotiations, and it’s likely a response from Beijing after recent talks with Brussels over tariffs on electric vehicles,” said Ding Shuang, chief economist for …
Exclusive: China dials up scrutiny of Big Four audit firms after Evergrande probe, sources say
HONG KONG, July 10 (Reuters) – China’s Ministry of Finance is conducting more rigorous checks of work done by the Big Four auditing firms for local companies, three people with knowledge of the matter …
China’s central bank is stuck in a policy dilemma
At least traders now know for sure where the People’s Bank of China stands. The Central bank said on Monday that it would start intervening in short-term debt markets, a week after revealing it was…
Beijing logs 8.3 million border entry, exit trips in H1
Beijing’s border inspection agency logged nearly 8.3 million entry and exit trips in the first half of this year, up 185% from the same period last year. The increase has been attributed to the summer…
China’s CPI inflation at three-month low in June, spurring economic stimulus talks
China’s consumer price inflation slowed to a three-month low in June, while producer prices remained in deflationary territory.
China’s financial sector jobs seen losing their lustre as salaries tumble amid crackdown
Deep and widespread pay cuts have hit China’s financial sector as Beijing seeks an honest and trustworthy, righteous pursuit of profits to support the economy.
