China’s largest banks are warning of a hit to profitability and asset quality this year as they comply with government orders to extend low-cost loans to companies affected by the coronavirus outbreak, reported the Financial Times. Since the outbreak of coronavirus in January, Beijing has ordered the country’s banks to step up their assistance to the national […]
Category: Law & Regulation
China’s local authorities will be allowed to pump up sales of special-purpose bonds (SPBs) this year to bolster the government’s firepower in supporting the economy as it struggles to recover from the coronavirus outbreak. They are also being urged to speed up the issuance of the early quotas they have already been allocated, reported Caixin. The […]
Chinese regulators on Friday gave Goldman Sachs and Morgan Stanley permission to take majority control of their local securities joint ventures, a sign that China will continue to open its financial markets despite the disruption caused by the coronavirus outbreak, reported the Financial Times. The Wall Street banks, two of the earliest foreign movers in […]
China will ban most foreigners from entering the country starting at midnight on Friday in an effort to block the spread of the coronavirus through imported cases, reported the South China Morning Post. Entry visas issued to foreigners will be suspended as an “interim measure”, according to a statement late Thursday by the country’s foreign […]
China’s largest food and drink fair, which was postponed due to the coronavirus outbreak, has been rescheduled for late May, highlighting further optimism over the containment of the pandemic, reported the South China Morning Post. The twice-yearly China Food and Drinks Fair, originally scheduled for March 26-28, will now take place from May 21-23 in […]