China

Featured China

China Development Bank vice-president detained in corruption probe

China’s top anti-corruption agency has detained a senior banker from a leading policy bank for investigation, it said. The Communist Party’s Central Commission for Discipline Inspection (CCDI) said on Thursday that He Xingxiang, vice-president of China Development Bank (CDB) and a member of its party committee, was under… Read More

China role in Afghanistan to face organised crime cartels, rampant corruption

China’s meetings in July with Taliban leaders who now look set to rule in Afghanistan generated speculation that Chinese investment and influence would flow into the country after the departure of the US and its allies. However, if China – as Afghanistan’s wealthiest and most powerful neighbour –… Read More

Australia, Malaysia, Singapore and South Africa launch cenbank digital currency scheme

Central banks in Australia, Singapore, Malaysia and South Africa will conduct a cross border payments trial using different central bank digital currencies (CBDC) to assess if this allows transactions to be settled more cheaply and easily, the banks said on Thursday. Many governments and central banks around the world are… Read More
1st September 2021
Senior Beijing officials have warned against imposing sanctions on China and expressed confidence in Hong Kong’s future as an international financial hub under the country’s economic expansion. China’s commerce minister Wang Wentao, and Liu Guangyuan, commissioner of the Chinese foreign ministry’s Hong Kong office, speaking at the sixth Belt and… Read More
31st August 2021
Six Chinese banks weren’t liable for a potential $150 million in sanctions for failing to freeze the assets of hundreds of Nike counterfeiters, the 2nd U.S. Circuit Court of Appeals ruled Monday. Next Investments LLC, which bought the rights to the $1.8 billion default award from Nike Inc, had failed… Read More
30th August 2021
A former senior inspector at China’s top anti-corruption agency has been charged with accepting 460 million yuan (US$71 million) in bribes. Dong Hong, who until 2018 was deputy leader of the central inspection team of the Central Commission for Discipline Inspection (CCDI) – the… Read More
26th August 2021
President Xi’s crackdown on China’s billionaires has ensnared the most senior party official in a city that fuelled the country’s tech boom. Hangzhou is one of the country’s richest cities and home to the ecommerce giant Alibaba. When Xi announced his goal of “common prosperity” he said he expected wealthy… Read More
25th August 2021
Weak cooperation between U.S. and Chinese authorities is hindering efforts to curb increasingly sophisticated forms of fentanyl trafficking, according to a U.S. congressional advisory report reviewed by Reuters. The report by the U.S.-China Economic and Security Review Commission, due to be published on Tuesday, said U.S. authorities have found that… Read More
23rd August 2021
Beijing is likely to draft a more refined and targeted anti-sanctions law for Hong Kong that could list exemptions for selected multinational corporations instead of adopting the blunt approach of just imposing its own powerful legislation, analysts have said. Explaining the central government’s surprising decision on Friday to… Read More
20th August 2021
China’s top legislative body postponed a vote on a proposal to impose an anti-sanctions law on Hong Kong, delaying a move that could put global firms in the cross-hairs of a conflict between the world’s two largest economies. The National People’s Congress Standing Committee ended a closed-door session… Read More
18th August 2021
Hong Kong must start developing its own defence system against foreign sanctions in coordination with the central government when China’s top legislative body approves a new law for the city on Friday, according to a senior pro-Beijing politician. The National People’s Congress (NPC) Standing Committee on Tuesday declared the legislative… Read More
17th August 2021
Hong Kong’s anti-sanctions law will allow “ambiguity” ensuring flexibility in how penalties are imposed and keep any disruption to the city’s operations as a global financial hub to a minimum, government insiders have told the Post. While lawyers who specialise in regulatory affairs warned of damage to investor confidence, one… Read More
17th August 2021
The Meng Wanzhou extradition hearings began its final week of scheduled court dates this morning, as defence lawyer Mark Sandler tore into U.S. allegations that the Huawei Technologies CFO misled HSBC into violation sanctions against Iran. The defence continued an apparent change in strategy started last week – a focus… Read More