Chinese state-run asset manager Huarong has been instructed by the country’s combined banking and insurance regulator (CBIRC) to return to its primary remit of controlling non-performing assets, the company said in a statement over the weekend, following the start of an anti-corruption probe into Huarong’s chairman earlier in the week. According to the statement, vice-chairman […]
Category: Brief
The US has agreed to negotiations with China at the World Trade Organization (WTO) regarding the two sides’ ongoing trade tensions, filings at the WTO show. China requested talks with the US under the WTO dispute settlement mechanism earlier this month, according to Caixin Global. But the two sides are yet to begin negotiations, Chinese Commerce […]
The US Treasury Department is still considering the possibility of using an obscure 1977 law granting the president emergency powers in event of an “unusual or extraordinary threat” to block Chinese investment in sensitive industries, Bloomberg reports. Heath Tarbert, an assistant secretary in the Treasury international affairs office, confirmed that the agency is reviewing the possibility of […]
IMF chief Christine Lagarde weighed in on the ongoing US-China trade dispute on Thursday, warning of the secondary impacts of protectionist measures on global confidence and investment, Reuters reports. Although the direct impact may appear manageable in the short term, the real threat lies in the “erosion of confidence” that stunts global investment and growth. Speaking […]
Petrobras is in the final stages of negotiations with China National Petroleum Corp. on a deal that would swap Chinese investment in a Brazilian oil refinery for crude oil imports, sources told Reuters. This would be China’s first oil refinery operation in either South or North America. From the deal, China is expected to receive […]