US and Chinese officials have been holding talks for several weeks in the run up to the meeting between Presidents Donald Trump and Xi Jinping in Buenos Aires on Saturday, sources from both countries told the Wall Street Journal. However, it remains unclear whether substantial progress has been made in the discussions. Details of what the […]
Category: Brief
Bloomberg reports that China is preparing to launch a large-scale purge of the $176 billion peer-to-peer lending market, closing small- and medium-sized firms that the government considers to be a threat to financial and social stability. Citing unnamed sources with knowledge of the matter, Bloomberg says that Beijing has become alarmed at the sharp rise in defaults in […]
Draft rules published by China’s banking regulator lay out new opportunities for foreign banks to do business on the mainland, including how to operate parallel incorporated subsidiaries and branches, Caixin reports. The announcement substantiates promises made a year ago by Beijing and reiterated in April that China would step up market access for international lenders. […]
A regular monitoring report of G20 trade policies has found that US restrictions have affected $369 billion of Chinese goods – almost $90 billion more than the commonly cited figure. The Global Trade Alert, authored by two University of St Gallen academics and quoted by Reuters, said that media reports stating that $278 billion of […]
The Chinese government has fined Didi Chuxing and launched a wider crackdown on the ride-hailing industry after the murder of two female passengers by male drivers earlier this year, Reuters reports. China’s Ministry of Transport singled out Didi Chuxing, the world’s second-largest ride-hailing firm after Uber with more than 30 million passengers per day, for its violation […]