A bank manager working at a branch of state-owned Industrial and Commercial Bank of China (ICBC) was recently sentenced to life in prison for setting up a scheme that enabled him to steal 250 million yuan (about $40 million) in deposits. The depositors are finding it almost impossible to get their money back as the…
US Security Requires Ending China’s Monopoly on Rare Earths: Experts
The United States will not be able to hold a competitive advantage or protect its national security as long as China maintains its dominance in rare earths production, according to experts. Washingon must also do a better job of educating professionals for careers in the mining sector, three experts told EpochTV’s “China Insider” program. The three…
China’s Bank of Communications Boss Warns of Tough Year Ahead
SHANGHAI—The president of China’s Bank of Communications Co. Ltd. (BoCom), on Friday warned it will be difficult for the lender to deliver satisfactory earnings this year. “This year has been the most complex year in my nearly 30 years in this business,” bank president Liu Jun told a news conference following BoCom’s annual results. Liu…
World Chinese Mining Operations Embroiled in Disputes and Losses
For over a decade, Chinese companies have played an increasing role in international mining investment, spending billions of dollars buying out foreign mines worldwide. However, Chinese mining firms have recently been facing disputes in the host countries over payments, environmental protests by locals, or government policy changes. These ongoing disputes have cost the companies dearly….
China Sees ‘Unprecedented’ Cash Outflows After Russian Attack on Ukraine: IIF
High-frequency data detected unprecedented cash flows out of China following Russia’s invasion of Ukraine, flagging a decreased confidence of investors amid geopolitical conflict and uncertainty. A “very unusual” shift emerged to global capital flows in emerging markets in late February, as China saw investors pull out of from its market while the rest holds up,…
China’s Economy Hits a Wall
News Analysis While the Chinese Communist Party (CCP) predicted 5.5 percent economic growth in 2022, the indicators say that Beijing is under the illusion of wishful thinking. COVID-19, a failing property market, sanctions from the Uyghur genocide, secondary sanctions from the Russian invasion, Xi Jinping’s reforms, and regulatory crackdowns are hitting China’s economy and leading…
Chinese Industrial Giants to List in Switzerland as Chinese Stocks Face Delisting Pressure in US
Since Chinese companies listed on the U.S. stock exchange face increasing pressure of being delisted, some are now considering listing on the SIX Swiss Exchange through Global Depository Receipts (GDR), bank certificates listing shares in two or more countries. Two Chinese manufacturing giants, Sany Heavy Industry and Lepu Medical Technology, have recently announced plans to…
China Real Estate Stocks Climb ‘Extraordinarily’ Amid Debt Defaults Crisis
China property shares rose dramatically after China proposed countermeasures to prevent risks in the debt-ridden real estate sector at the latest financial stability meeting. The scale of capital invested in the stock market was an extraordinary sign, Chinese media said. According to Chinese financial media Times Weekly on March 18, it seems that a financial…
China Real Estate Stocks Climb Amid Debt Defaults Crisis
China property shares rose dramatically after China proposed countermeasures to prevent risks in the debt-ridden real estate sector at the latest financial stability meeting. The scale of capital invested in the stock market was an extraordinary sign, Chinese media said. According to Chinese financial media Times Weekly on March 18, it seems that a financial…
China Warned Not to Help Russia Evade Sanctions, Obtain Semiconductors: Biden Administration
The Biden administration warned China on March 23 not to help Russia evade Western sanctions over its invasion of Ukraine, saying G7 countries will soon announce a unified initiative to prevent “systematic sanctions busting.” All countries will be held to the same requirements, U.S. officials said, although China has been receiving special attention after Beijing…
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