Three of China’s largest state-owned banks have agreed to invest billions of yuan into a government-managed fund aimed at channelling liquidity to small enterprises and agricultural companies, as Beijing tries to balance deleveraging in certain sectors of the economy with bolstering economic growth. Industrial and Commercial Bank of China, Bank of China, and Agricultural Bank […]
Category: Brief
Despite no signs from the White House of easing trade tensions with Beijing, the US Senate has passed a substantial bill to cut tariffs on hundreds of consumer and industrial imports from China. The house unanimously passed a bill that would significantly lower trade barriers on around 1,660 products shipped into the US, nearly half […]
The People’s Bank of China plans to ease one of its capital requirements for banks in a further attempt to encourage lending, sources told Bloomberg. In a notice sent to several banks on Wednesday, the central bank said that the so-called “structural parameter” in the Macro-Prudential Assessment of balance sheets will be eased by 0.5%, […]
Shared office space provider WeWork’s China subsidiary has hit a valuation of $5 billion after receiving fresh investment from a number of high-profile backers, the Financial Times reports. The $500 million funding round included investments from Japanese investment firm SoftBank and its Vision Fund, Singaporean sovereign wealth fund Temasek, as well as private equity firms Trustbridge Partners […]
Shares in Chinese group-buying site Pinduoduo soared following the company’s initial public offering in New York on Thursday, with investors showing strong demand for the company many believe could be poised to rival e-commerce giants JD.com and Alibaba. The company, sometimes described as China’s answer to Groupon, priced at the top of its range at […]