WASHINGTON — U.S. Treasury Secretary Scott Bessent traded policy complaints with Chinese Vice Premier He Lifeng on Friday, with Bessent telling Beijing to do more to curb fentanyl trafficking and rebalance its economy, and He voicing concerns about President Donald Trump’s new tariffs, the two governments said. The top economic officials from the world’s two…
Chinese state news agency Xinhua said it would deepen cooperation with Japan’s Kyodo News as Beijing aimed to create a “favourable public opinion environment” for Sino-Japanese ties. Xinhua’s president Fu Hua met his Kyodo counterpart Toru Mizutani in Tokyo on Monday. Fu said Beijing was willing to “further strengthen exchanges and cooperation” between China’s official…
On November 19, two major events unfolded simultaneously in Hong Kong which highlighted the paradox of this once-great but now-confused city as it tries to navigate between socialism and capitalism in an era of great uncertainty. On Hong Kong Island, the Monetary Authority hosted about 300 global and regional financial leaders, including top executives from…
Hong Kong is a key beneficiary of mainland China’s high household savings rate. A spillover of capital into Hong Kong from the mainland’s overflowing reservoir of household savings could provide much-needed relief for Hong Kong, which is struggling with protracted economic and geopolitical uncertainties. While the mainland is subjected to capital controls, Hong Kong is…
Alibaba Group Holding raised US$5 billion from a multi-tranche dual-currency bond offering, the Chinese e-commerce giant said on Wednesday, an initiative that looks to enhance Hong Kong’s role as an international financial centre. The company’s latest bond offering reflects efforts by the mainland and Hong Kong to bolster the city’s financial standing, including its function…
China’s Vice-Premier He Lifeng, the government’s top man on the financial industry, is scheduled to lead a delegation of senior bankers and officials to Hong Kong next week for the third annual conference of global financiers, according to sources familiar with the plans. He is expected to lead a contingent comprising the heads of China’s…
President Xi Jinping has issued a slew of economic-centric instructions in the past week, at a time all eyes are watching Beijing’s stimulus package aimed at shoring up China’s economy. The latest message from Xi was conveyed on Sunday in the northeastern city of Tianjin during an event to celebrate the 40th anniversary of China’s…