Saudi Arabia’s sovereign wealth fund PIF has signed six memorandums of understanding (MoUs) worth a total of $50 billion with leading Chinese financial institutions, the fund said in a statement on …
Tagged By financials
China-Russia Trade Faces Hurdles As Global Banks Return 80% Of Yuan Transfers, Delaying Payments By 6 Months Amid US Sanctions
The complications started in December when the U.S. implemented secondary sanctions aimed at financial institutions assisting Russia in evading sanctions. This led to global banks, from China to the U …
Panda bond push: Pakistan gets 5 bids from China to shore up finances
Panda Bonds are onshore renminbi-denominated bonds issued in the People’s Republic of China by non-Chinese entities and serve as a capital-raising platform for foreign countries or companies targeting …
Former vice president of Chinese policy bank expelled from Communist Party, Xinhua says
The former vice president of China Development Bank, Li Jiping, has been expelled from the Communist Party for suspected severe violations of discipline and laws, state news agency Xinhua reported on …
Volkswagen CEO: China is open for discussion on tariffs
Volkswagen’s chief executive said China and Europe should build tariff systems that reward those who invest in domestic car production, adding that the Chinese ministers he recently met in Beijing …
China holds back on more stimulus, citing necessary ‘pain’
China is not planning additional stimulus for the second half of the year, according to officials from the economic planning agency and finance ministry.
China’s Wealth Management Market to Grow Slower in Second Half; Yields to Stay Low, Insiders Say
However, although the growth of the wealth management market peaked in July, it is likely to slow in the second half. July was a big month for the wealth management market, but it will slow…
China to issue 30 billion yuan of book-entry discount T-bonds
China Ministry of Finance said Thursday that it will auction 30 billion yuan about 421 billion US dollars worth of book-entry discount treasury b …
Beijing to introduce travel pass for foreign visitors
For starters, the Beijing Pass will enhance the convenience of subway travel for foreign visitors, who will be able to use their international bank cards to purchase the pass at the city’s seven …
Woman shreds cash into over 100,000 pieces; China bank restores it in 22 days to return to needy family
The family needed to put money together – quite literally – and this bank in China managed to accomplish just that. Bank employees in Kunming, China worked overtime for 22 days to restore sliced up…
China Market Update: Policymakers Finally Listen To Chants Of ‘Jia You’
Asian equities had a strong night led higher by Mainland China, Hong Kong, and Japan while Taiwan underperformed.
China’s cash-strapped small banks face limitations amid shake-up, with no easy fix
Beijing has called for consolidation of China’s indebted and feeble local banks, with the central Henan province announcing its consolidation plans on Sunday.
China Aims to Boost Economy by Empowering Low- and Middle-Income Earners
China focuses on empowering low- and middle-income earners to boost economic growth, as the Politburo prioritizes wage increases and consumer spending. These measures are part of efforts to achieve a …
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