A standoff between Chinese President Xi Jinping and US Vice-President Mike Pence at the Asia Pacific Economic Cooperation (Apec) summit last week highlighted the growing rivalry between the two countries, and dampened hopes of an agreement when President Donald Trump meets with Xi at the G20 summit later this month. The members of Apec failed […]
Category: Brief
The country’s Rmb 18.3 trillion ($2.64 trillion) local government bond market will now be open to retail investors, including wealthy individuals, as authorities continue to push for greater lending and a wider range of opportunities for investors, Caixin reports. The People’s Bank of China announced the move in a joint statement with the Ministry of […]
Bank of China has become the first of the “big four” Chinese state-owned commercial banks to confirm that it will create an independent unit to invest funds raised from selling wealth management products, Caixin reports. The new subsidiary, Bank of China Wealth Management Co, will manage an initial $1.4 billion in capital and will focus on raising […]
Hikvision, which makes the facial recognition cameras used to monitor the movement of Muslim citizens in China’s Xinjiang region, may face a ban on doing business with US suppliers – a key source of its technology. The company is one of the world’s largest CCTV companies, but most of the core components underpinning its signature […]
The newly-elected president of the Maldives said that the country’s recent borrowing spree from Chinese lenders has left state finances in a “precarious” situation, while other creditor nations are also feeling squeezed following heavy investment led by Beijing, Reuters reports. “The damage done due to projects conducted only for political reasons, and at a loss, are huge,” […]