China’s top banking regulator issued assurances that Hong Kong’s linked exchange-rate system is stable and the city’s unique strength as an international financial center will not be weakened under Beijing’s pending new national security law for the special administrative region, reported Caixin. The China Banking and Insurance Regulatory Commission (CBIRC) said Thursday that Hong Kong’s […]
Category: Brief
BYD will supply batteries for a Ford Motor hybrid vehicle, as the Chinese automaker bets on batteries as a new revenue source, according to government documents. The move comes amid a contraction in China’s new energy vehicle market, reported Caixin. The batteries will be used in one of Ford’s plug-in hybrid models, for which Ford’s China venture with Changan Automobile is […]
China Vanke Co Ltd said on Thursday it planned to sell HK$7.89 billion ($1.02 billion) worth of H-shares to raise capital to repay overseas debt financing and for development of domestic residential properties, reported Reuters. The Chinese property developer plans to sell 315.89 million new H-shares, representing 2.72% of the enlarged total issued share capital, […]
The extradition hearings in Canada for Huawei executive Meng Wanzhou, wanted on fraud charges in the United States, are set to continue until 2021, after Covid-19 threw scheduling for the complicated case into disarray, reported the South China Morning Post. At a hearing in Vancouver’s Supreme Court on Wednesday, Meng’s defence and the Canadian government lawyers representing US […]
China said on Thursday that it will allow more foreign carriers to fly into the mainland, shortly after Washington barred Chinese passenger carriers from flying to the United States citing Beijing’s restrictions on American airlines, reported Reuters. The Civil Aviation Administration of China (CAAC) said in a statement that qualifying foreign carriers currently barred from […]