According to information obtained by the Russian newspaper Kommersant, the Bank of China has decided to suspend cooperation with Russian banks on the US sanctions list, known as the SDN (Specially …
Tagged By financials
Hong Kong’s US$8 billion government fund inks deal with Beijing biotech start-up as city aims for tech hub status
The Hong Kong Investment Corporation (HKIC), a government-owned fund that manages HK$62 billion (US$8 billion) in assets, has struck a deal with a biotechnology firm started by Chinese internet giant …
China’s public budget expenditure grows by 3.4 percent in first 5 month
(MENAFN) China’s Ministry of Finance has reported a 3.4 percent year-on-year increase in general public budget spending, totaling 10.8359 trillion yuan (approximately 1.52 trillion U.S. dollars) …
China’s Bank halts yuan deals with sanctioned Russian banks
The Bank of China has decided to suspend cooperation with Russian banks that are on the US sanctions list, SDN (Specially Designated Nationals List, a list of entities developed by the Office of …
China’s insurance assets surge to $32t
The industry represents only 7% of China’s total financial assets. The total assets of China’s insurance sector increased by 15.8% year-on-year (YoY) to $31.54t (CNY32.86t) as of March this year, data …
China’s general public budget spending up 3.4% in Jan-May
BEIJING — China’s general public budget spending expanded 3.4 percent year-on-year to 10.8359 trillion yuan ($1.52 trillion) in the first five months of 2024, the Ministry of Finance said Monday.
China’s general public budget spending up 3.4% in Jan-May
BEIJING — China’s general public budget spending expanded 3.4 percent year-on-year to 10.8359 trillion yuan ($1.52 trillion) in the first five months of 2024, the Ministry of Finance said Monday.
China’s Fiscal Income Drops at Quickest Pace in More Than a Year
(Bloomberg) — China’s fiscal revenue shrank at the fastest pace in … according to Bloomberg calculations based on data from the Ministry of Finance. The combined spending under the two accounts …
China Development Bank ups loan support for green projects
[Photo/Xinhua] BEIJING — The China Development Bank, a major policy bank in the country, has strengthened financial support for the green and low-carbon industries. The bank issued over 200 billion …
Don’t expect drastic economic reforms at China’s party conclave: Analysts
“Instead, China needs bold measures to boost business confidence and to resolve the liquidity/debt crisis in local public finance and the property sector,” said Professor Zhu, who is from the China …
China to create fund to rescue financial companies
BEIJING — The Chinese government plans to set up a rescue fund for embattled financial institutions, aiming to prevent a financial crisis triggered by the real estate market slump. Unlike similar …
Cash is leaving China again, pressuring yuan
A sliding yuan and extensive outflows of cash from the mainland into Hong Kong show China’s domestic investors are shelving expectations for any immediate recovery in their home markets and fleeing to …
Will China’s third plenum bring a solution to its local fiscal woes as debts snowball?
A fiscal gulf exists between China’s central and local governments, and it is seen as a hurdle to healthy and sustainable development ahead of the third plenum.
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