Customers at four rural banks in Henan province and one in neighbouring Anhui have been cut off from their savings since April, leading to protests and promises from authorities that some of the money …
Tagged By financials
China’s Central Bank Says 93% of Financial Institutions Are ‘Safe’ After Henan Scandal Erupts in Violence
China’s central bank has issued an assurance that despite a recent scandal of local lenders in Henan province freezing withdrawals, 93% of the more than 4,000 financial institutions it reviewed late …
Significant economic slowdown as China battles COVID
The economic slowdown in China means that the three major economic regions of … Speaking after a meeting this week with the Japanese finance minister Shunichi Suzuki, where the rapid fall of the yen …
China’s Finance Ministry Imposes Its First Cross-Border Administrative Penalty
Three years after authorities in Malaysia tipped off their Chinese counterparts about a financial fraud at the China unit of listed Malaysian company Lambo Group, China’s finance ministry imposed the …
China’s banking-crisis victims promised money, but outcry as ‘it doesn’t solve underlying problem’
Chinese authorities will start repaying some victims of one of the nation’s biggest ever financial scandals later this week after hundreds of savers took to the streets at the weekend in protest, but …
Commentary: Is China stumbling into its own mortgage crisis?
A rapidly spreading protest — borrowers refusing to make mortgage payments on unfinished homes — threatens to rattle the Chinese financial system, says Bloomberg’s Shuli Ren.
China’s growth slumps sharply after Covid lockdowns – economy shrinks 2.6% in second quarter, and experts warns officials could be hiding worst
It comes as the global economy faces a period of turmoil. The eurozone is in chaos and US experts fear for the global economy.
China has been paying close attention to difficulties in Sri Lanka: FM spokesperson
BEIJING – As a friendly neighbor, China has been paying close attention to difficulties and challenges Sri Lanka faces and, whenever possible, has always provided support to Sri Lanka’s socioeconomic …
It’s in China’s interest to restructure Sri Lanka’s debt: Yellen
Amid the ongoing financial crisis in island nation US Treasury Secretary Janet Yellen has said that China is a very important creditor of Sri Lanka and it wo …
China urges banks to tighten screws on Internet loans
A man rides an electric bike past the China Banking and Insurance Regulatory Commission (CBIRC) building in Beijing, China February 14, 2019. Picture taken February 14, 2019. REUTERS/Stringer ATTENTI …
Didi’s digital payments unit fined by China’s central bank
BEIJING, July 15 (Reuters) – Didi’s digital payments unit was fined 4.27 million yuan ($632,170) on Friday by China’s central bank for a dozen rule violations, amid an effort by the ride-hailing …
Aluminum Prices: Is China Turning On The Stimulus Taps?
However, a Financial Times Unhedged post quotes Bloomberg’s report that China’s Ministry of Finance is considering allowing local governments to sell Rmb1.5tn ($220bn) of special bonds in the …
Beijing’s Assurances On Mortgage Protests Fail To Convince Investors
Shares in Chinese property developers extended losses, even after the banking watchdog vowed to strengthen coordination with other regulators to “guarantee the delivery of homes” and at least 10 banks …