China to shut out the 'zombies' and aid promising firms

China to shut out the 'zombies' and aid promising firms

(ATF) Regulators overseeing China's banking and insurance sectors plan to focus help for temporarily distressed but promising companies while preventing 'zombie companies' from 'free-riding' the economic system. The China Banking and Insurance Regulatory Commission (CBIRC) held an online mid-year work seminar to discuss disciplinary inspection and supervision and arrange key ...

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China bids to eliminate illegal debt hidden in govt system

China plan to eliminate illegal debt hidden in govt system

(ATF) The magazine "China Finance" has published a speech by Minister of Finance Liu Kun to the heads of all national finance bureaus. Liu Kun said that since last year, joint efforts with financial departments at all levels helped to achieve 'certain results' in managing local government debt. So the ...

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Flooding caused by climate change breaks traditional cycle

Flooding caused by climate change breaks traditional cycle

(ATF) China traditionally breaks the annual solar cycle into 24 periods. Usually uncannily correct, this year climate change and an El Nino weather pattern in the Pacific has thrown the system into disorder. June 22 in the beginning of Dashu – the time of year when the duration of the ...

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US-China spat rattles the world

US-China spat rattles the world

(ATF) China’s retaliatory move ordering the United States to shut its consulate in Chengdu city days after it was asked to close its consulate in Houston could be more damaging than a trade war to the global economy, reeling from a pandemic that is still spreading. Financial markets panicked, the ...

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Jobless and desperate: the reality for many post-lockdown

Jobless and desperate: the reality for many post-lockdown

Many workers' lives have been abruptly upended by the coronavirus pandemic, as job losses in tourism, air travel, food and drink or other industries hit those both on fixed contracts and in the informal sector. From employees making a comfortable living, to others just scraping by, people around the world ...

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China to transfer $286 billion directly to struggling ‘grassroots’

China to transfer 2-trillion yuan directly to struggling ‘grassroots’  

(ATF) China’s central government has announced an additional 2 trillion yuan (US$286.2 billion) of direct “grassroots funding” – to deal with the coronavirus, natural disasters and other problems, such as likely impending food shortages. The Ministry of Finance issued a document to strengthen supervision of this funding. This is to ...

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China’s central bank signals economy strengthening

China’s central bank signals economy strengthening

(ATF) China’s central bank continued to pump cash into the banking system via reverse repos Monday. And in a sign that policymakers think the economy is recovering strongly, they kept the nation’s benchmark lending rate steady for the third straight month. The People's Bank of China (PBoC) injected 100 bln ...

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