Chinese banks dispose of $467 billion soured assets
BEIJING (Reuters) – China’s banking sector disposed of 3.02 trillion yuan ($466.6 billion) in non-performing assets in 2020, its top banking and insurance watchdog said on Friday, up more than 50% from a year ago. The non-performing loan ratio of … Continue reading Chinese banks dispose of $467 billion soured assets
Financial investors unsettled by disappearance of Jack Ma
NEW YORK/BOSTON/HONG KONG – Billionaire Jack Ma’s 50-second video reappearance has done little to resolve Alibaba Group’s troubled relationship with regulators that is making some investors hesitate about owning the Chinese e-commerce giant’s stock. Relief at Ma’s first public appearance … Continue reading Financial investors unsettled by disappearance of Jack Ma
China approves Cisco’s $4.5 billion Acacia deal
SHANGHAI – Cisco Systems Inc’s purchase of Acacia Communications Inc has been approved by China’s antitrust regulator on condition that the companies ensure fair competition, the watchdog said on Tuesday. The State Administration for Market Regulation’s (SAMR) green light brings … Continue reading China approves Cisco’s $4.5 billion Acacia deal
Tesla delivering new model Y to Chinese customers
BEIJING/SHANGHAI – Tesla Inc said on Monday it has started delivering its Shanghai-made Model Y sports utility vehicles to customers in China. A representative for the U.S. automaker made the comment in response to a query from Reuters. The company … Continue reading Tesla delivering new model Y to Chinese customers
China: “New COVID-19 outbreak imported”
SHANGHAI – China’s recent COVID-19 outbreaks in the northeast have come from travelers entering the country or contaminated frozen food imports, the National Health Commission (NHC) said on Saturday. NHC Minister Ma Xiaowei made the comments at a government meeting, … Continue reading China: “New COVID-19 outbreak imported”