china

China Unlocks Billions in Loans for Residential Development – Whitelist Strategy Revealed!

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BEIJING, China – Chinese banks have recently approved over $17 billion in loans as part of a government “whitelist” project aimed at boosting the country’s housing market. The approval of these loans comes as China’s state banks have earmarked more than $8 billion to support property projects. The move is seen as an effort to stimulate the real estate market and provide a policy boost. BANKCOMM, a major Chinese bank, has also approved credit lines …

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Chinese Bank Hit Hard in 80% Profit Drop Due to Commercial Property: HSBC’s Struggles in China, Explained

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LONDON – HSBC, a UK-based banking conglomerate that primarily operates in Asia, saw an 80% drop in pre-tax profits in the last three months of 2023. This significant decline was attributed to a $3 billion charge on the value of its stake in a Chinese bank and further write-downs on commercial real estate. The bank’s profits for the fourth quarter shrank to $1 billion from $5 billion the previous year. While the full-year pre-tax profits …

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China Writedown Threatens HSBC’s Record Profit- Click Here for More!

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Hong Kong, China – HSBC, one of the largest banking institutions in the world, reported a $3 billion writedown in China, affecting its annual profits. This news comes as the bank announces its record annual profit for the year 2023, falling short of analysts’ estimates. The drastic drop in profits is due to a significant charge related to its operations in China, which has caused the bank’s shares to tumble. The bank’s pre-tax profits saw …

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Stocks Waver and US Futures Decline with Worries Over China – Nvidia Earnings May Be a Turning Point

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LONDON (AP) European stock markets showed uncertainty, and U.S. equity futures declined due to ongoing concerns about China’s economic outlook. The persistent worry over China’s economy had a global impact on markets, overshadowing some positive corporate news and earnings. Futures for the S&P 500 and Nasdaq 100 were indicating a down day on Wall Street after Monday’s public holiday. One of the major concerns for investors was the anticipated earnings report from Nvidia Corp., with …

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“China Stocks” Struggle After New Year Holiday, but Upbeat Data May Turn the Tables

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Investors in Beijing, China are keeping a close eye on the stock market as it struggles following the reopening after the Chinese New Year holiday. The markets have shown some signs of rising, with tourism stocks being boosted by positive holiday travel data. On the other hand, shares in Hong Kong are falling. The lunar new year holiday led to subdued activity in Chinese equities, according to financial reports. However, data from South China Morning …

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Volkswagen and BASF Considering Cutting Ties to China After Slave Labor Allegations and Customs Delays

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Frankfurt, Germany – Volkswagen and BASF, two major companies with ties to Xinjiang, China, are re-evaluating their relationships amidst concerns about forced labor in the region. The decision comes in response to allegations of Chinese slave labor affecting the production of several luxury car brands, including VW’s Audi, Porsche, and Bentley vehicles. The U.S. customs have blocked Volkswagen cars over a part sourced from China, raising further concerns about the extent of the issue. The …

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China c.bank holds key policy rate as Fed’s shadow looms – Full Coverage

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BEIJING, China – The People’s Bank of China has opted to keep its key policy rate unchanged, a decision made under the shadow of the Federal Reserve’s recent actions in the United States. The move comes as the global economy continues to navigate through uncertain times, with central banks around the world closely monitoring and adjusting their policies in response. The unchanged policy rate in China suggests a cautious approach by the central bank, as …

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Hugo Awards Censorship Scandal: Shortlisted Authors Excluded Over China Concerns Revealed in Shocking Leaked Emails

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HONG KONG – The prestigious literary award, the Hugo Awards, faced controversy last year after excluding several authors from the shortlists due to concerns over their work or public comments being offensive to China, as leaked emails revealed. Among the authors excluded were Neil Gaiman, R.F. Kuang, Xiran Jay Zhao, and Paul Weimer, despite earning enough votes to be finalists. The concerns stemmed from the fact that the Hugo Awards were held in China for …

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Argentina’s Controversial Asia Tour: China Friendlies vs. Nigeria and Ivory Coast in Jeopardy Due to Messi’s Ongoing Dispute

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BEIJING, China – Argentina’s upcoming friendlies in China against Nigeria and Ivory Coast may be relocated due to the ongoing controversy surrounding Lionel Messi’s absence during a recent visit to Hong Kong. The Argentina Football Association (AFA) had planned for the national team to play in Hangzhou against Nigeria and in Beijing against Ivory Coast during the March FIFA window. However, the fallout from Messi’s failure to appear in Hong Kong has led to discussions …

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Market Slump in China: Japanese Stocks Up, Chinese Equities in Hong Kong Slump for Third Straight Day

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Hong Kong, China – Chinese stocks in Hong Kong experienced a third consecutive day of decline as many markets in the region were closed for public holidays, including the mainland. Meanwhile, Japanese stocks saw a slight increase. The Nikkei 225 index in Japan rose by 0.3%, although it had previously shown gains of up to 1.2%. On the other hand, the Hang Seng China Enterprises Index dropped by 1%. The MSCI Asia Pacific Index is …

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