Bank of China has become the first of the “big four” Chinese state-owned commercial banks to confirm that it will create an independent unit to invest funds raised from selling wealth management products, Caixin reports. The new subsidiary, Bank of China Wealth Management Co, will manage an initial $1.4 billion in capital and will focus on raising […]
Category: Investment
The newly-elected president of the Maldives said that the country’s recent borrowing spree from Chinese lenders has left state finances in a “precarious” situation, while other creditor nations are also feeling squeezed following heavy investment led by Beijing, Reuters reports. “The damage done due to projects conducted only for political reasons, and at a loss, are huge,” […]
It’s still two weeks away, but it seems like it’s tomorrow in terms of the significance of the G20 meeting coming up at the end of the month and the possible meeting between Trump and Xi that may result in a possible truce or not in the trade war. It’s a risk to place a […]
China’s commerce ministry will support private firms looking to invest in international markets, the South China Morning Post reports. The move suggests that the government is softening its stance on outbound investment after forcing several high-profile firms to rein in overseas spending. “We will guide private businesses to venture abroad in an orderly manner and to […]
Chinese economic data released yesterday showed that key metrics such as industrial output and investment beat expectations last month, but retail sales fell to a five-month low as the economy continues to face pressures on demand. Industrial output grew 5.9% in October, according to the National Bureau of Statistics, surpassing estimates from a Reuters poll […]