57 h. ago After 10 years, AIIB welcomes new leadership – and fresh US challenges

Back to April 2016, at the Qingfeng steamed bun restaurant in Beijing’s bustling Xicheng district, Jin Liqun lunched with the Asia editor of the Financial Times to introduce himself and China’s newly created Asian Infrastructure Investment Bank (AIIB). Beijing’s decision to establish a development bank reflected in part a deep frustration with the reluctance of the world’s leading economies to give China (and other leading developing economies) more influence in Bretton Woods institutions such...

Politics

57 h. ago Having funded Asian infrastructure for a decade, what next for the AIIB?

Back to April 2016, at the Qingfeng steamed bun restaurant in Beijing’s bustling Xicheng district, Jin Liqun lunched with the Asia editor of the Financial Times to introduce himself and China’s newly created Asian Infrastructure Investment Bank (AIIB). Beijing’s decision to establish a development bank reflected in part a deep frustration with the reluctance of the world’s leading economies to give China (and other leading developing economies) more influence in Bretton Woods institutions such...

Politics

63 h. ago UnionPay and Bank of China Indonesia Showcase SplendorPlus Debit Card Privileges in Jakarta and Medan Roadshows

UnionPay and Bank of China Indonesia Showcase SplendorPlus Debit Card Privileges in Jakarta and Medan Roadshows  Yahoo Finance

Economics

67 h. ago China’s 100K TPS blockchain, Japan’s Minna Bank eyes Solana: Asia Express

China’s 100K TPS blockchain, Japan’s Minna Bank eyes Solana: Asia Express  Cointelegraph

Politics

4 d. ago BYD and Geely bank on big discounts, Xpeng’s ‘super AI’ SUV : 7 EV reads

We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. BYD, Geely bank on big discounts to set record car sales, dent smaller rivals China’s leading electric vehicle (EV) makers from BYD to Geely Auto sustained their strong sales last month as big price cuts lured new buyers, helping boost their market share and heaping pressure on...

Politics

5 d. ago Hong Kong is vital link to world, where China anchors its trust, John Lee says

Hong Kong is a vital link that the world can rely on for security and development under the shifting geopolitical landscape as it connects the globe with China’s growth certainty and investible stability, the city leader has said. “Hong Kong is the ‘superconnector’ and ‘super value-adder’ that links the world with opportunities from China’s growth certainties. A link you can always bank on,” Chief Executive John Lee Ka-chiu said in a keynote speech at the South China Morning Post’s China...

Politics

5 d. ago Hong Kong vital link to world, where China anchors its trust, John Lee says

Hong Kong is a vital link that the world can rely on for security and development under the shifting geopolitical landscape as it connects the globe with China’s growth certainty and investible stability, the city leader has said. “Hong Kong is the ‘superconnector’ and ‘super value-adder’ that links the world with opportunities from China’s growth certainties. A link you can always bank on,” Chief Executive John Lee Ka-chiu said in a keynote speech at the South China Morning Post’s China...

Politics

5 d. ago Hong Kong is vital link to world, where China anchors its trust: John Lee

Hong Kong is a vital link that the world can rely on for security and development amid a shifting geopolitical landscape, as it connects the globe with China’s growth certainty and investible stability, the city’s leader has said. “Hong Kong is the ‘superconnector’ and ‘super value-adder’ that links the world with opportunities from China’s growth certainties. A link you can always bank on,” Chief Executive John Lee Ka-chiu said in a keynote speech at the South China Morning Post’s China...

Politics

5 d. ago Chinese power bank maker suspends production after recall, aviation ban

One of China’s biggest portable power bank makers has suspended production for at least six months and closed its stores on major Chinese e-commerce platforms after a massive recall of its products and the decision by the country’s civil aviation authority to ban unlicensed power banks on flights. Shenzhen-based Romoss Technology, which sells its products in dozens of countries around the world, notified its employees that the company would suspend operations for six months starting on Monday,...

Economics

6 d. ago Exclusive: China's central bank asks financial institutions about dollar weakness, sources say

Exclusive: China's central bank asks financial institutions about dollar weakness, sources say  Reuters

Economics

8 d. ago ‘Brics bank’ blasts West ahead of leaders’ summit, China mute on tariffs

Brazilian President Luiz Inacio Lula da Silva and New Development Bank (NDB) president Dilma Rousseff accused the United States, its allies and the Western-dominated financial order on Friday of weaponising tariffs and sanctions. They also used the opening of the Brics bank’s annual meeting to call for new models of development and cooperation across the Global South. Speaking before finance ministers and governors from Brics nations and new members in Rio de Janeiro, Lula said the NDB was proof...

Politics

1 week ago China’s power bank crackdown: 6 preflight answers for wary travellers

China’s aviation authorities have imposed an emergency ban on air passengers’ carrying substandard power banks, catching many travellers off guard. The safety precaution, which went into effect on June 28, two days after being announced by the Civil Aviation Administration of China (CAAC), has triggered questions and concerns. Here are six points that people travelling to and within China need to know – from which power banks are still allowed, to what can be done with ineligible ones at the...

Events

1 week ago Explainer | China’s power bank crackdown: 6 preflight answers for wary travellers

Explainer | China’s power bank crackdown: 6 preflight answers for wary travellers  South China Morning Post

Events

1 week ago Economist Huang Yiping floats Hong Kong as stablecoin staging ground

Issuing a stablecoin pegged to the offshore yuan in Hong Kong may be more feasible than in mainland China due to the latter’s capital controls, a central bank adviser has said. The comments from Huang Yiping, also dean of Peking University’s National School of Development, came as worries arise in Beijing’s policy circles that Washington could gain an upper hand through the cryptocurrency offshoot as a means of consolidating US dollar dominance. “As China’s capital account is not fully...

Politics

1 week ago China’s central bank seeks European lenders’ advice on low interest rates

China’s central bank seeks European lenders’ advice on low interest rates  Financial Times

Politics

1 week ago The world is going all in on stablecoins. Is China’s digital yuan any different?

When South Korea reportedly halted its digital currency pilot programme this week in favour of stablecoins – cryptocurrencies pegged to a reference asset, typically a fiat currency – it sent shock waves through central banks across the world. It also left China – a pioneer in central bank-backed digital currencies with its digital yuan, or e-CNY – with an important question to answer, namely whether it should continue to explore such digital assets or revisit the possibility of adopting the...

Politics

1 week ago China’s aviation power bank ban catches travellers off guard

An emergency ban on some power banks imposed by China’s aviation regulator over the weekend caught travellers off guard, many of whom arrived at airports only to be told that such portable devices could not be taken onto their flights. The Civil Aviation Administration of China (CAAC) began enforcing the strict ban on lithium-based power banks over safety risks on Saturday, two days after issuing the notice. The ban applies to devices without proper safety and quality certifications or those...

Politics

1 week ago China’s emergency power bank ban catches domestic fliers off guard

An emergency ban on some power banks imposed by China’s aviation regulator over the weekend caught travellers off guard, many of whom arrived at airports only to be told that such portable devices could not be taken onto their flights. The Civil Aviation Administration of China (CAAC) began enforcing the strict ban on lithium-based power banks over safety risks on Saturday, two days after issuing the notice. The ban applies to devices without proper safety and quality certifications or those...

Politics

1 week ago BYD, Geely bank on big discounts to set record car sales, dent smaller rivals

China’s leading electric vehicle (EV) makers from BYD to Geely Auto sustained their strong sales last month as big price cuts lured new buyers, helping boost their market share and heaping pressure on smaller, unprofitable rivals. BYD, the world’s largest EV builder, delivered 382,585 vehicles in June for its best month this year, the Shenzhen-based company said in a filing on Tuesday. While deliveries were little changed from May, they jumped 12 per cent from a year earlier. Geely, China’s...

Economics

1 week ago Why China’s yuan is forecast to keep strengthening against the US dollar

Market optimism for the Chinese currency continues to rise, with analysts projecting the yuan to appreciate further against the US dollar amid a stronger-than-expected domestic economy and growing concerns over US debt sustainability. On Tuesday, the People’s Bank of China set its daily reference rate at 7.1534 per US dollar – strengthening from Monday’s 7.1656, and the strongest level since early November. In June, the onshore yuan appreciated by 0.41 per cent against the greenback, bringing...

Politics