Search Results for: China
Bank of China faces daily fine in US
December 2nd, 2015
The Bank of China will face a daily fine in the US unless it complies with a court request to give details of customers accused of selling fake goods. The bank was held in contempt of court in Manhattan ...
Asia shares fall on China caution, yuan jumpy ahead of IMF decision
November 30th, 2015
Asian shares fell on Monday as Chinese stocks extended last week’s sharp losses, while the yuan bounced in volatile trade hours ahead of an IMF decision on whether to promote it to a basket of global reserve currencies. MSCI’s ...
China Shares Fall Sharply as Regulators Investigate Brokers
November 27th, 2015
Chinese officials have ramped up scrutiny of the securities industry Chinese authorities’ investigations into two major Chinese brokerages over suspected violations drove shares in Shanghai sharply lower Friday. The Shanghai Composite Index fell 4.6% to 3468.13, wiping out most ...
ECB and the People’s Bank of China successfully test bilateral currency swap arrangement
November 27th, 2015
The European Central Bank (ECB) and the People’s Bank China (PBC) successfully test their bilateral currency swap arrangement The tests serve to confirm operational readiness and are not a precursor to activation of a swap Swap arrangement contributes to ...
Stocks Fall on China Selloff as Yuan Weakens; Commodities Slump
November 27th, 2015
Brokerages lead losses in Chinese shares on government probes Traders holding on to December Fed bets while ECB seen easing A selloff in Chinese stocks spread across Asia as falling industrial profits and a deepening probe of the financial ...
CS is first of post-2007 ventures to win China brokerage approval
November 26th, 2015
CS is first of post-2007 ventures to win approval China gradually loosens rules for foreign players Licence limited to Qianhai area (Recasts, adds context on China reforms) Credit Suisse Group AG said on Thursday its investment banking joint venture in ...
China Said to Ease Control on Brokers’ Proprietary Trading
November 25th, 2015
Regulator issued notice scrapping net long rule, people say CSRC cancels rules as stock market stabilizes after slump China has canceled a rule requiring brokerages to hold daily net long positions in their proprietary trading accounts as the nation’s ...
Apple Seeks to Launch Apple Pay in China by February
November 24th, 2015
Tech giant has paved way by striking deals with big four state-run banks, but regulatory hurdles may remain Apple Inc. seeks by early February to launch its new Apple Pay electronic-payment service in China—a vibrant but fiercely competitive market ...
China busts largest underground banking case
November 23rd, 2015
Police in east China‘s Zhejiang Province have busted the country’s largest underground banking case, which involved transactions totalling 410 billion yuan (64 bln U.S. dollars), the Ministry of Public Security said Thursday. A total of 100 suspects from eight ...
China Has a $1.2 Trillion Ponzi Finance Problem
November 20th, 2015
Some 45% of new debt will be used to pay interest: Hua Chuang `Ponzi’ finance was seen by Hyman Minsky as unsustainable Chinese borrowers are taking on record amounts of debt to repay interest on their existing obligations, raising ...
