Economists have wondered for months whether China’s property meltdown would trigger a financial crisis. The consensus so far has been that it won’t. But perhaps the financial crisis has been here all …
Tagged By financials
Here’s what Wall Street expects from China Merchants Bank’s earnings
China Merchants Bank presents Q3 figures on October 27.Analysts expect earnings per share of CNY 1.48.Watch China Merchants Bank stock price in
China’s Property Crisis: A Test of Beijing’s Economic Acumen
China’s property market, a once red-hot engine of economic growth, is now teetering on the brink of a severe crisis. A crisis that threatens to derail the country’s recovery from the pandemic-induced …
China’s Communist party beefs up new financial regulator to tighten control
The Central Financial Commission, which President Xi Jinping announced in March, will serve as the de facto watchdog, planner and decision maker for China’s $61tn financial sector, weakening the power …
StanChart shares slump on almost $1 billion China hit
StanChart shares fell 12% in London on Thursday before trading was briefly halted, after it announced its profit unexpectedly plunged by a third due to a nearly $1 billion combined hit from its …
China Construction Bank Profits Gain on Lower Credit Losses
China Construction Bank Corp. posted a 2.6% increase in its third-quarter profit, as it managed to offset a margin slide with lower credit impairments. Net income rose to 88.1 billion yuan ($12 billion) from 85.9…
Standard Chartered shares plunge as bank misses analysts’ forecasts following $900 million China hit
Shares in the London lender fell 11% after Standard Chartered posted a 54% drop in its statutory pre-tax profits for the third quarter of 2023
Economic Watch: China’s new govn’t bonds to lay foundation for economic well-being in Q4, next year
BEIJING, Oct. 26 (Xinhua) — China’s additional 1-trillion-yuan (about 139.3 billion U.S. dollars) government bonds to be issued in the fourth quarter could expand effective demand and help put …
StanChart profit slumps on China real estate and banking losses
Standard Chartered said today its pre-tax profit dropped 33% in the third quarter of the year, far beyond analyst estimates, after taking a nearly $1 billion hit from exposure to China’s banking and troubled real…
China Appoints Technocrat Lan Foan as New Finance Minister Amid Fiscal Stimulus Push
As the global financial landscape continues its unpredictable dance, China has placed its fiscal future in the hands of a new leader, Lan Foan. A technocrat with scant experience in central government …
Xi Jinping Is Looking for Someone to Blame for China’s Property Bust
With China’s property bust threatening to sink the country’s economic recovery, Xi Jinping is looking for someone to blame.After putting the billionaire founder of Evergrande, a heavily indebted …
China’s Communist Party Establishes Central Financial Commission: A Power Play in the Financial Sector
In an era marked by financial giants and bloated economies, China’s Communist Party has taken a bold step towards the regulation of its financial sector, a behemoth worth $61tn. The establishment of …
China rushes to swap Western tech with domestic options as U.S. cracks down
China has spent heavily on replacing computer equipment … equipment doubled to 235 from 119 in the 12 months after September 2022, according to a finance ministry database seen by Reuters. In the same period,…
