BEIJING, May 5 (Xinhua) — China Development Bank (CDB) said it had issued 104 billion yuan (about 14.63 billion U.S. dollars) in loans during the first quarter of 2024, in an effort to bolster the…
Tagged By financials
Does China’s oil-for-infrastructure lending model in Africa need a rethink?
Chinese resource-backed loans were a lifeline for African economies but fluctuating commodity prices exposed a hidden danger.
Agricultural Bank of China enhances financial services in rural areas
BEIJING, May 4 (Xinhua) — More than half of Agricultural Bank of China’s branches were located in county-level regions as of the end of 2023, amid the bank’s broader efforts in improving financial …
China launches Chang’e 6 lunar probe, revving up space race with U.S.
The first-of-its-kind mission aims to bring back samples from the far side of the moon and is the latest step in a rapidly advancing Chinese space program.
China boyfriend in hot water after giving girlfriend US$97,000 in fake cash to buy flat to keep future in-laws happy
A man in China who was under pressure from his girlfriend’s parents to buy her a flat, filled a suitcase with bank training coupons, which she took to the police thinking he had been conned.
In Graphics | Chinese debt trap: These nations owe Beijing big time
Beijing has set aside over $1 trillion to emerging nations as part of its ambitious Belt and Road Initiative. While India has constantly warned about the ‘dangers of unsustainable financing’ and count …
Solomon Islands ‘locks in’ China ties with another pro-Beijing leader as bilateral security pact still rankles
Manele would likely adopt “a more cautious approach” towards Beijing due to concerns over sovereignty and transparency, Bozzato added. In 2022, Honiara secured a US$66 million loan from China to …
China’s green loans see record-breaking quarterly surge in Q1: central bank
BEIJING, May 3 (Xinhua) — China’s green loans logged an increase of 3.7 trillion yuan (about 520.66 billion U.S. dollars) in the first quarter of 2024 (Q1), hitting an all-time high, the country’s …
Hong Kong stocks gain 4.7% on the week led by technology, banking sectors; China policy support hopes swirl
Banking shares extended gains, with China Construction Bank rising 0.8 per cent and Industrial and Commercial Bank of China 1 per cent higher. Insurance stocks also rose, with AIA jumping 3.4 per cent …
S. Korea, Japan, China agree to create new financing facility against regional crises
South Korea, China and Japan agreed Friday to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing …
China wants ‘patient capital’ to fund its tech drive. Will slow and steady win the race?
In an official communique, China’s Politburo said ‘patient capital’ is expected to pitch in as the country moves towards a tech-driven growth model, showing a much-needed focus on the long term, …
StanChart Q1 profit beats estimates as income boost outweighs China woes
By Selena Li and Lawrence White HONG KONG/LONDON (Reuters) -Standard Chartered PLC beat forecasts on Thursday with a 5.5% rise in its first-quarter pretax profit, as the income boost from higher …
Hong Kong stocks rise led by gains in banking, insurance sectors with tailwind from China’s recent policy support moves
The Hong Kong Monetary Authority (HKMA) left its base rate unchanged at 5.75 per cent, hours after the Fed kept interest rates steady HSBC, the city’s biggest bank, rose as much as 3.3 per cent…
