Articles by Kevin Yao

China Will Not Impose Sanctions on Russia for Ukraine Invasion

BEIJING — China will not join in sanctions on Russia that have been led by the West, the country’s banking regulator said on Wednesday, adding that he believed the impact of the measures on China would be limited. China, which …

As Economic Costs of Coronavirus Mount, China Accuses U.S. of Overreacting

The economic and diplomatic costs of China’s coronavirus epidemic mounted on Monday with investors knocking $400 billion off the value of stocks and the government accusing the United States of over-reacting to the outbreak and whipping up panic. The number …

China to End Limits on Foreign Ownership in Financial Sector One Year Early

China will end ownership limits for foreign investors in its financial sector in 2020, a year earlier than scheduled, to show the world it will keep opening up its markets, Premier Li Keqiang said on Tuesday. China will also further …

China Pledges Expanded Market Access for Foreign Investors in Banking, Insurance

China will sharply expand market access for foreign banks and securities and insurance companies, especially in its financial services sector, Premier Li Keqiang said on Thursday, as senior U.S. officials arrived in Beijing for more trade talks. The government will …

China to Raise Foreign Ownership Limit in Financial Services by Year-End

China laid out a clearer timetable on Wednesday for opening its financial sector to more foreign investment by the end of 2018, as Beijing looks to fend off growing criticism from the United States and others that it unfairly limits …

China’s Xi Maintains Commitment to Open Economy, Insurance Industry

Chinese President Xi Jinping promised on Tuesday to open the country’s economy further and lower import tariffs on products including cars, in a speech seen as an attempt to defuse an escalating trade dispute with the United States. While most …

China Unveils Plans to Allow More Foreign Financial Services Investments

China unveiled plans on Friday to allow more foreign investment in banking, insurance, securities and credit-rating firms, as part of a wider opening up of the world’s second-largest economy. The moves could ease some frustration among foreign firms over their …

IMF Head Sees Global Economy on Recovery Path, but Risks Remain

The global economy has stepped back from the brink of danger and signs of stabilization are emerging from the euro zone and the United States, but high debt levels in developed markets and rising oil prices are key risks ahead, …

IMF Head Warns World Economy Risks a ‘Lost Decade’

The head of the International Monetary Fund warned on Wednesday that Europe’s debt crisis risked plunging the global economy into a “lost decade” and said it was up to rich nations to shoulder the burden of restoring growth and confidence. …