Mr Wang is part of a generation of young consumers who have rejected the thrifty habits of their elders and become used to spending with borrowed money. Outstanding consumer loans — used for vehicle purchases, holidays, household renovations and...
While the United States is reeling from the revelation that political consultancy Cambridge Analytica harvested data from over 87 million Facebook accounts, China’s biggest tech companies and regulators are confronting a wave of of their own...
The capital-raising comes ahead of a widely expected initial public offering.
Alibaba and Ford signed a deal to form a partnership last year that would see both companies working together on new technological opportunities.
The “Social Credit System” is designed to monitor and rate citizens and companies in China and to guide their behavior. “It is a wide-reaching project that touches on almost all aspects of everyday life,” the authors Mareike Ohlberg, Bertram Lang...
Troubled by huge debts run up by big state companies and politically connected local governments, China is taking steps instead to go after the little guys.
The Chinese Party-state is building a social credit system for collecting information about all of its citizens by police, courts, and other institutions. This enables the government to reach into society to a degree unprecedented...
This book is about the growth of shadow banking in China and the rise of China’s free markets. Shadow Banking refers to capital that is distributed outside the formal banking system, including everything from Mom and Pop lending shops to online credit to giant state owned banks called Trusts. They have grown from a fraction of the economy 10 years ago to nearly half of all China’s annual 25 trillion renminbi (U.S.$4.1 trillion) in lending in the economy today.
In 2016, the People's Bank of China got a reprieve from the U.S. Federal Reserve. This year it needs no such help.
China's millennials - roughly those aged between 18 and 35 - are embracing debt like never before
Premier Li Keqiang recently launched a new era for banking in China by ceremonially pressing the "confirm" button for a 35,000 yuan loan issued to a Shenzhen truck driver.
Li's gesture on January 4 on behalf of Shenzhen Qianhai WeBank was...
Visa and MasterCard executives eager to expand in China were thrilled recently when Premier Li Keqiang seemed to suggest that a door would open to them for bank card yuan business in the country.
But they had read Li wrong: The premier's...
The biggest of China's some 85,000 property developers are the only ones likely to benefit from this credit loosening. Authorities have been trying to streamline the number of companies as part of economic overhauls.
Few would dispute that Chinese society suffers from a serious trust problem. After surviving crafty scams and shoddy products for...
Citibank fund transfer delays sparks concern over a possible nation-wide liquidity shortage.
One of China's biggest “shadow banks” raises Rmb3bn from investors, which was backed by a coal mine which later collapsed.
Can China slow credit growth and money supply without causing slumps in real-estate and business?
China's annual consumer inflation rate rose to a seven-month high of 3.1 percent in September as poor weather drove up food prices, limiting the scope for the central bank to maneuver to support the economy even as exports showed a surprise...
Foreign investors that specialise in buying up distressed debt are queuing outside the industry's door, but bankers say China's reluctance to pay the price of a privately funded clean-up means that door probably won't open....
At a time when much of the world is mired in economic torpor, China still enjoys enviable growth rates. Yet there’s no question that its economy is growing more slowly these days.
Local government debt is now so unwieldy in China that some desperate city governments, such as that of western Ordos, have turned to the private sector for help to pay their employees.
A rare peek into the actions of China’s leaders in a month when a Chinese cash crunch spooked global investors shows a leadership falling short in its struggle to redirect China's economy and also faltering in its efforts to convey its...
China’s blueprint for economic reform is finally taking shape. The government has appointed a taskforce to draft the plans, ahead of the third plenary meeting of the 18th Central Committee. With the country’s economy at the crossroads, these...
If any institutions fit the classic definition of shadow banking in China, it’s trust companies. Trust companies take money from institutional investors and individuals and make loans and investments to a wide variety of projects....
The current turmoil in global financial markets, which began with the American subprime crisis in 2007, has put market liberalism in a bad light.
But it was the socialization of risk—not private free markets—that precipitated the crisis....
Substantial effort has been devoted to reforming China's banking system in recent years. The authorities recapitalized three large state-owned banks, introduced new governance structures, and brought in foreign strategic investors. However, it...
