The bank channelled funds through affiliates and mass employee investors to pass off private funds as public, China’s top auditor says.
Tagged By financials
A Look At Beijing Shougang LanzaTech Technology (SEHK:2553) Valuation After An 11.39% One Day Share Price Drop
Why Beijing Shougang LanzaTech Technology is drawing attention now Beijing Shougang LanzaTech Technology (SEHK:2553) has come onto investors’ radar after a sharp 11.39% single day share price drop, …
China’s top auditor says major state banks have committed tax evasion or lending violations
BEIJING, June 25 (Reuters) – China’s top audit body has identified some of the country’s biggest state-owned financial institutions as having evaded tax or having lax loan oversight, underscoring …
China central bank to add tool to better manage short-term liquidity
SHANGHAI/BEIJING, June 25 (Reuters) – China’s central bank said it will debut overnight lending next week, offering reverse-repos to banks and brokers as it deepens control over what have been …
China State Banks Called Out for Tax Evasion, Improper Loans
China’s top auditor flagged several of the nation’s largest state-backed financial institutions for tax evasion and improper lending as Beijing seeks to rein in financial risks.
Island turns ecosystem into financial asset
According to the certification, in 2020, the island generated 6,248 short tons of carbon dioxide equivalent from energy use, agriculture and waste treatment, while its forests absorbed 7,717 short …
China plans tougher sanctions on fraudulent auditors – report
The new ruling is expected to increase the maximum fine for issuing false audit reports to as much as ten-times the unlawful gains.
China finance ministry sells 10-year debt at 1.71% yield as borrowing costs stay pinned to the floor
China’s finance ministry auctioned 10-year bonds at 1.7116% yield as record sovereign debt issuance continues, signaling aggressive fiscal stimulus efforts.
A change of pace at China’s central bank
China tends to do things in a rush. One exception is monetary policy. Unlike most central banks, which set an overnight interest rate, the People’s Bank of China sets a rate for a leisurely seven…
Analysis-China’s African tariff removals, trade surge spur yuan adoption
Surging Chinese trade with Africa and lifting of tariffs for most countries on the continent look set to boost yuan use, aiding Beijing’s bid to build …
Why Wall Street banks and foreign borrowers are rushing to tap China’s cheap money
Foreign governments, Wall Street banks and multinational companies are flocking to China’s panda bond market.
China central bank’s deepening control on short-term rates sparks debate over policy focus
SHANGHAI, June 17 (Reuters) – China’s central bank announced on Wednesday it was deepening control over short-term money markets and tying overnight money borrowing costs more closely to its benchmark …
China makes new push to take yuan global, vows vigilance against financial risks
SHANGHAI, June 17 (Reuters) – China announced fresh measures on Wednesday to promote the global use of the yuan and unveiled plans to better manage domestic money market liquidity. Pan Gongsheng, …
