Latest News for: China financier

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China's economic advance gives hope to the developing world

China.dot.org 25 Jun 2021
A 2019 report by Switzerland-based financial services company Credit Suisse Group said that China was this century's champion in wealth creation and the figures it cites are truly amazing. Having successfully cushioned the impact of the global financial crisis of 2008-2009, ...
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BRICS could be the world’s economic beacon

Asiatimes 25 Jun 2021
As the most populous of the five nations, China and India are also blessed with an abundance of human capital ... Lack of financial and economic muscles and determination to contain China might be the reason the G7 invited India, Australia, South Korea and South Africa to the 2021 meeting in the UK, hoping to turn it into a G11.
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Darco Water flags whistleblower report relating to China-based unit

Straits Times 25 Jun 2021
According to the whistleblower, the company's executive chairman had instructed WHKD's head of finance to modify certain key financial figures for its FY2019 financial statements, which in turn were submitted to a bank in China that has extended banking facilities to WHKD.
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CX Daily: China’s Bond Market Gets a Reprieve in WMP Overhaul

Caixin Online 25 Jun 2021
The city’s treasury and financial services bureau are working with local regulators and market development bodies to formulate a blueprint to complement the needs of China's economic and financial development and to meet the needs of international investors, Lam said in a video message at the event.
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Chinese Banks Stockpile Record $1 Trillion of Foreign Currencies

Caixin Online 25 Jun 2021
China’s resilient economy and strengthening currency have attracted record foreign purchases of bonds and stocks over the past year, while surging demand for goods needed to ride out the pandemic meant exporters brought back more dollars ... Dollar borrowing costs in China are lower than the rates in the U.S.
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Kazakhstan, US attract crypto-miners from China

Asiatimes 25 Jun 2021
When a prefecture in northwestern China’s Xinjiang region ordered a halt on cryptocurrency mining projects this month, Chris Zhu scrambled to move clients’ machines southward, spending over a week to reassemble in Sichuan ... Energy, financial concerns. Analysts have pointed to financial risks and energy goals as reasons behind China’s crypto clampdown.
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6 global mega banks prepare to introduce new platform of international remittance giant SWIFT

OBN 25 Jun 2021
SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a non-profit corporation that provides a communication network that enables international remittances between banks ... Bank of China BNY Mellon BNP Paribas City Deutsche Bank Standard Chartered Bank. Bank of China is one of the four major commercial banks in China.
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Why It Will Be Hard for China to Clamp Down on Bitcoin

Barrons 25 Jun 2021
The People’s Republic of China ... China first barred financial institutions from handling crypto in 2013, when it decided that Bitcoin lacked “real meaning.” In 2017 it closed crypto exchanges and outlawed “initial coin offerings,” sales of stock compensated by Bitcoin ... Bitcoin is one area where China does not want to lead the world.
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Asia-Pacific Shares Rise Accross the Board Led by Materials Jump Following US Infrastructure Deal

FX Empire 25 Jun 2021
In China, the benchmark Shanghai Index settled at 3607.56, up 40.91 or +1.15% and in Australia, the S&P/ASX 200 Index finished at 7308.00, up 32.70 or +0.45% ... China Stocks Post Weekly Gain on Financials Boost. China stocks jumped on Friday to snap three straight weekly losses, powered by gains in heavyweight financial firms.
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Opinion: Why China Can’t, and Shouldn’t, Control the Yuan Exchange Rate (Part 2)

Caixin Online 25 Jun 2021
Trading outside China’s borders ... If these countries’ currencies adopt the RMB as their anchor, pegging their exchange rates to it, this will not only help defuse the exchange rate risks involved in investment and trade between China and their own market subjects, but also benefit overall economic and financial stability for those countries.
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Schmidt to branch out into custom-made furniture sector

China Daily 25 Jun 2021
Gan has seen huge growth potential in the booming China market, saying an increasing group of middle-class people is willing to pay to live a high-end life ... According to the financial report by Suofeiya Home Collection Co Ltd, Schmidt Kitchens gained 1.21 billion yuan in revenue in China last year, up 42.26 percent year-on-year.
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Asia stays calm amid US inflation jitters

Asiatimes 25 Jun 2021
Whereas the Fed “taper tantrum” of 2013 was a financial earthquake of sorts, such chatter in 2021 is proving less seismic ... Three, a belief Asia’s fortunes are now hitched more to China than the US ... In the 12 years since the 2008-2009 global financial crisis, China became the second-largest economy and biggest trading nation on earth.
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Is BTC Taking Hold in the Developing World? El Salvador, Paraguay & Beyond

Finance Magnates 25 Jun 2021
However, the Chinese government stepped out in front of this theory in December of 2020, when Zhou Xiaochuan, the former Governor of the People’s Bank of China, said at the Shanghai Financial Forum that “If you are willing to use it, the yuan can be used for trade and investmentwe don’t have an ambition to replace existing currencies.”.
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China remains largest bond market in emerging East Asia: ADB

China Daily 25 Jun 2021
MANILA - China continues to have the largest local currency bond market in emerging East Asia, comprising 77.8 percent of the region's bonds outstanding, according to the latest issue of the Asian Development Bank (ADB) report released on Friday.
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US defence spending to match China leading to ‘intense policy debates’

The Daily Telegraph Australia 25 Jun 2021
US Studies Centre CEO Simon Jackman says “intense policy debates” are ongoing between defence officials to determine how the superpower financially supports its ambition to “meet and match” China ... give voice to its stated ambition to meet and match China.

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