Tags: china

Xi Jinping takes centre stage

In the coming weeks, two major events will again focus the international spotlight on China as it projects its power on the world stage. Next week, President Xi Jinping (習近平) is expected to hold an informal summit with US President Donald Trump in Florida, the first time the two world leaders will meet face-to-face, according […]

Chinese worry about wealth gap

China may have the second-highest number of billionaires after the US but the world’s second- largest economy should worry about the growing divide between the rich and the poor, Chinese experts have warned. The Communist Party government in China should closely monitor the country’s wealth gap and focus on poverty relief, experts said, as China […]

‘Don’t depend on us’ – China’s government

A major factor behind the soaring growth of risky wealth-management products in China is that investors typically think the government stands behind them. Lately, nervous regulators have been emphasising that this isn’t so. But they’ll have to do a lot more to change expectations in a state-dominated economy. Wealth-management products are short-term, high-yielding investments that […]

China’s politicians amass huge wealth

The fortunes of the richest 100 members of China’s parliament and its advisory body – all dollar billionaires – grew about 64 percent in the four years since Xi Jinping rose to power, according to data from an organisation tracking wealth in China. Xi has overseen a crackdown on corruption and decadence, and made the […]

Chinese buy Cheesegrater

The “Cheesegrater”, the tallest building in the City of London, has been sold to a Chinese property tycoon for £1.15bn, the second biggest ever sale of a UK building. The developer behind the 224-metre tower, British Land, and its joint venture partner Oxford Properties, the global property arm of a Canadian pension fund, have sold […]

Shadow banking in China

Chinese banks had more than 26 trillion yuan ($3.8 trillion) of wealth-management products held off their balance sheets at the end of December, a 30 percent increase from a year earlier, according to the central bank. The expansion of this form of shadow banking, with money eventually being diverted to quasi-loans and bonds, outpaced the […]

China ups ante on shipping

China is to revise its 1984 Maritime Traffic Safety Law, which would allow the relevant authorities to bar some foreign ships from passing through Chinese territorial waters, state media said. The announcment is a test of US resolve in the South China Sea amid reports that the American state department is in considerable disarray, a […]

China’s debt stays top concern

Debt levels in China are high now, and the country could be drowning in debt by 2018, Goldman Sachs wealth manager Sharmin Mossavar-Rahmani says. A major risk to U.S. markets is looming, and it’s bigger than headlines and President Donald Trump’s tweets, Goldman Sachs’ Sharmin Mossavar-Rahmani told CNBC on Wednesday. The threat is the Chinese […]

China trumps US in Pacific deal

John Brinkley, a Forbes contributor, points out the benefit to China from Trump’s TPP move: ‘Well, he’s done it. President Trump has withdrawn the United States from the Trans-Pacific Partnership. “The Trans-Pacific Partnership is another disaster done and pushed by special interests who want to rape our country, just a continuing rape of our country,” […]

Question mark over Chinese data

China’s economy grew by 6.7% in 2016, compared with 6.9% a year earlier, according to official data, marking its slowest growth since 1990. The figure is in line with Beijing’s growth target of between 6.5% and 7%. But the data comes days after the leader of one Chinese province admitted GDP data was faked for […]