A report issued by one of China’s four national asset managers China Orient Asset Management Co. suggests that the country’s banks have likely understated their levels of risky debt, with nonperforming loans (NPLs) set to increase further this year. For the last five quarters, commercial banks’ NPL ratio has been a steady 1.74%, a figure […]
Category: Brief
The US and UK have both taken action to limit the influence of major Chinese telecommunications equipment firm ZTE Corp., on the grounds of national-security concerns. The US Commerce Department has invoked a 7-year export ban on ZTE due to the Chinese company’s alleged violation of a deal made last year following allegations of trade […]
US President Donald Trump accused China and Russia of currency manipulation in a tweet on Monday, in an unexpected move that seemed to disagree with the stance of other government offices. “Russia and China are playing the Currency Devaluation game as the US keeps raising interest rates. Not acceptable!,” Trump said in the tweet. He […]
US chip manufacturer Qualcomm will send its second refiling of its antitrust application to the Chinese Ministry of Commerce as early as Monday next week, sources told Reuters, in a desperate attempt to stop its deal with NXP Semiconductors from falling through. Qualcomm withdrew its previous application on Saturday only four days before the Ministry […]
Chinese e-commerce giant JD.com has agreed to buy one third of Allianz China for RMB536.6 million ($85.4 million), Caixin Global reports, as part of a wider fundraising initiative by the German Insurer’s China subsidiary. According to a company filing made by Allianz on Monday, JD.com will become Allianz China’s second largest shareholder after the parent […]