News by tag: China

10.11.2017

China opens financial sector to foreign control

China’s financial services sector will be almost entirely open to foreign players in the next five years, China’s deputy finance minister Zhu Guangyao said on Friday. The new rules, unveiled at a government briefing on Friday, will give global financial companies unprecedented access to the world’s second-largest economy. Today’s announcement follows statements by Chinese authorities on Thursday that restrictions in the country’s banking and financial sector would soon be eased, as Chinese leader Xi Jinping met with US President Trump as part of Trump’s Asia visit.

 
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09.11.2017

Trump's tour in China adds $250 billion trade agreements

U.S. companies, from chip giant Qualcomm to aircraft maker Boeing, announced a slew of deals on Thursday during U.S. President Donald Trump's visit to Beijing. The deals could be valued as much as $250 billion, though some have been long in the pipeline and many are non-binding. The signing ceremony was carried out in the presence of US President Donald Trump and his Chinese counterpart Xi Jinping. Being the world’s biggest developing economy and developed economy, China and the United States are highly complementary rather than competitive, Xi said when meeting with business delegates from both countries.

 
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26.10.2017

China comes back on the market bond after 13 years

China will issue 2 billion U.S. dollars worth of dollar-denominated sovereign bonds on Thursday, China's Ministry of Finance (MOF) said here on Wednesday. China will issue the sovereign bonds in the Hong Kong Special Administrative Region (HKSAR), including 1 billion U.S. dollars of five-year bonds and 1 billion U.S. dollars of 10-year bonds.

 
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18.10.2017

Volkswagen targets emerging markets

Volkswagen has become one of the world’s biggest carmakers with a full range of makes and models, including highly engineered vehicles that compete with the world’s best. Now it is returning to its roots with a simpler people’s car, only this time the people are the teeming billions in China, India and other emerging markets. Volkswagen India's automotive offerings are actually over delivering for the Indian market, according to Steffen Knapp, director of passenger cars, Volkswagen India. As told to the Economic Times (ET), the company will now be looking to develop more region-specific offerings from sub brand Skoda Auto.

 
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28.09.2017

China change the rule: electric cars quota from 2019

China will require automakers to comply with a cap-and-trade auto emission rule starting from 2019, the Ministry of Industry and Information Technology announced on Thursday. Car companies with annual sales of more than 30,000 vehicles would have to meet a quota of 10 percent being New Energy Vehicles (NEV's), meaning all-electric battery vehicles or plug-in hybrids, it said in a statement.

 
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20.09.2017

Deutsche Bank warned where the next financial crisis could happen

Deutsche Bank analysts have warned China could be at the centre of the next financial crisis. Research by the bank’s strategists Jim Reid, Nick Burns, Sukanto Chanda and Craig Nicol found China still needs to reposition its economy "from manufacturing to services and investment to consumption.”

 
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15.09.2017

Big Chinese Bitcoin platform to shut down end-September

BTC China, one of the China’s largest Bitcoin exchange platform, announced in a Tweet on Thursday that it will shut down Bitcoin trading within China by the 30th of September. The move comes after Chinese regulators banned fundraising through Initial Coin Offerings (ICO) on September 4th citing concerns over financial fraud and speculation.

 
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12.09.2017

China worries Bitcoin's world with a ban's project

Chinese authorities are preparing to shut down the country’s bitcoin exchanges, according to people familiar with the matter, reflecting a growing unease with the virtual currency and its recent surge in value, as  multiple Monday reports wrote. 

 
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11.09.2017

Alibaba to open its first physical shopping mall

China’s e-commerce behemoth Alibaba Group is reportedly set to open its first brick-and-mortar department store in its hometown Hangzhou next April. The space, called “More Mall,” symbolizes the “New Retail” concept, which has long been advocated by the company. According to reports in the Chinese media, the new mall will occupy 40,000 square meters of space across five floors. It will curate brands that already have an established presence on Alibaba’s two major online platforms: Tmall and Taobao Marketplace.

 
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08.09.2017

Chinese ICO ban blows on the Bitcoin market

Several Chinese cryptocurrency exchanges have delisted markets in a bid to comply with China’s recent clarifications on the legality of ICOs. Yunbi, Dahonguo, and Yuanbao have issued statements addressing the central bank’s new regulations, moving to delist markets that facilitate the trade of tokens issued via initial coin offering.

 
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