Only a week ago, Zhongzhi Enterprise Group Co. attracted little notice within China and was almost unheard of everywhere else. Now, the secretive shadow banking giant has become the latest symbol of financial fragility in an $18 trillion economy where …
A new Chinese financial watchdog will help bridge regulatory gaps but analysts and investors say the agency will consolidate power at the top and could introduce more state and party intervention. In a major shake-up, China will set up the …
China will set up a new financial regulatory body consolidating oversight, which analysts said was aimed at closing loopholes with multiple agencies monitoring different aspects of trillions of dollars’ worth of its financial services industry. The government will also set …
China on Wednesday published revised rules designed to strengthen financial firms’ ability to combat money laundering. The revised rules, which regulates how financial institutions conduct due diligence on clients, and store their identity and trading data, will also bring China …
BEIJING — Chinese financial watchdogs on Thursday summoned 13 internet platforms engaged in finance business, including heavyweights Tencent and ByteDance, to order them to strengthen compliance with regulations, the central bank said. The move by the four regulators is part …
China’s top financial regulator dismissed claims the nation is distorting its economy through “state monopoly capitalism” as pressure grows on China to align more with global trade rules. Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said …
China issued new rules on Sunday to regulate financial holding companies, in its latest move to prevent systematic risks to the nation’s vast financial sector. The new rules were set to stem loopholes in supervision and regulation systems, as a …
President Donald Trump and Chinese Vice Premier Liu He signed an economic and trade agreement that promises to increase the agricultural and other goods and services China will buy from the U.S. by $200 billion. For its part, the U.S. …
China’s big bang opening of its $45 trillion financial industry begins in earnest next year — a step-by-step affair that’s unfolding just as economic strains threaten the promised windfall luring in global firms. Starting with its insurance and futures markets, …
China’s finance ministry said on Wednesday it will make it harder for ownership changes to be made to financial institutions that could lead to the government relinquishing control, in a bid to prevent the loss of state assets. Effective Dec. …
