China’s financial regulators have announced plans to give banks more means of raising capital, as the government’s crackdown on the shadow banking sector has endangered banks’ ability to maintain their required cash reserves, Caixin Global reports. The move suggests that the government’s financial deleveraging drive is having significant effects, with banks taking responsibility for assets […]
Category: Brief
More than 260,000 organizations will begin paying a new tax on various forms of environmental pollution in April, as China pushes forward its “high-quality development” agenda, the People’s Daily reports. The Environment Protection Tax Law came into effect on Jan 1. Under the new law, enterprises and public organizations must pay fees based on the […]
Chinese auto company Geely is ramping up its push to develop a flying car by beginning a drive to recruit more technicians to work for its subsidiary in charge of the group’s airborne vehicles projects, Caixin Global reports. Geely Terrafugia is hiring several more technicians with experience in telecommunications and aircraft engineering, according to job […]
The U.S. Commerce Department has introduced new tariffs on aluminium foil imported from China, Bloomberg reports, having found that such products were receiving state subsidies to be sold below fair market value in the U.S. The tariffs will range from 49% to 106% as punishment for dumping onto the U.S. market, with an additional 17-81% […]
European Union member states taking part in Chinese-led infrastructure projects must make sure that they do not allow this engagement with China to undermine Europe’s common foreign policy stance toward the Asian superpower, German Chancellor Angela Merkel has warned. Merkel made the remark at a joint news conference with Serbian President Aleksandar Vucic. According to Reuters, […]