JPMorgan Chase & Co.’s China head said its expansion in the country is taking longer than expected, as the US bank races to take advantage of China’s $60 trillion financial sector.
Tagged By financials
US Treasury Seeks China Engagement Even as It Sharpens Its Economic Tools
The US Treasury Department is seeking engagement with China while also sharpening the economic tools needed to counter what it sees as national security challenges, according to two officials, …
China’s push for trade in yuan has downsides for Gulf states
The United States closely monitored the Gulf’s appetite for trade in yuan. In February 2023, the dollar accounted for 84.3% of the world’s trade finance, down from 86.8% a year earlier. Meanwhile, the …
China Billionaire’s Fosun Gets S&P Ratings Boost After Cutting Debt By $3 Billion; Stock Rises
Among its recent disposals, Shanghai Yuyuan Tourist Mart, a retail subsidiary of Fosun International, agreed to sell 80% of its ownership in diamond-related investment arm Alpha Yu to a fund …
Elon Musk Meets Chinese Finance Minister in Beijing
Tesla’s Elon Musk met China’s foreign minister Qin Gang in Beijing on Tuesday, the Chinese ministry said in a statement. Qin Gang told Elon Musk China was “committed to creating a better …
TikTok Creators’ Financial Info, Social Security Numbers Have Been Stored In China
TikTok has stored the most sensitive financial data of its biggest stars — those in its “Creator Fund” — on servers in China.
China Central Bank Makes Massive Central Bank Bills Swap
The People’s Bank of China implemented the fifth Central Bank Bills Swap (CBS) operation in 2023 on Monday May 29, 2023. The amount of CBS was 5 billion yuan, with a duration of 3 months.…
UPDATE 1-New Development Bank issues $1.2 billion of panda bonds
The New Development Bank issued 8.5 billion yuan ($1.23 billion) worth of panda bonds in China’s interbank bond market on Monday to mobilise resources for financing sustainable development projects, …
New Development Bank issues 8.5-bln-yuan bond on China Interbank Bond Market
The New Development Bank (NDB) has issued an RMB-denominated bond of 8.5 billion yuan (about 1.2 billion U.S. dollars) on the China Interbank Bond Market, the bank announced on Monday night. It is the …
China’s GF in talks to buy 20% stake in asset manager Value Partners – sources
Chinese investment bank GF Securities is in final talks to acquire a 20% stake in Hong Kong-listed asset manager Value Partners, sources familiar with the matter said. GF Holdings (Hong Kong), the …
China continues to deepen all-round cooperation with NDB: spokesperson
A Chinese foreign ministry spokesperson on Monday said that China stands ready to continue to deepen all-round cooperation with the New Development Bank (NDB) and support it in growing stronger.
US long-only funds have sold $6 bln in China ADRs this year
U.S.-domiciled long-only funds have unwound more than $6 billion in U.S.-listed China stocks this year, Morgan Stanley research shows, as China’s fading recovery outlook and widening geopolitical …
One of China’s biggest cities is so cash-strapped it’s calling in debts
It urged them to pay their overdue debts as soon as possible. The debtors or guarantors include state or privately owned companies, government departments and think tanks, according to official media …