Wealth Management Connect and The Long-Awaited Southbound China-Hong Kong Bond Connect Schemes natlawreview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from natlawreview.com Daily Mail and Mail on Sunday newspapers.
SHANGHAI Foreign investors’ holdings of Chinese government bonds (CGBs) touched a record high in July, official data showed, and rose at the fastest monthly…
A fireworks show lit up the Chinese capital’s sky as the Communist Party of China held a ceremony at the National Stadium on Monday to celebrate its 100th anniversary. The show was one of several events planned to commemorate the founding of one of the largest political parties in the world, which has ruled China since 1949Jun 29, 2021 04:42 PM
China facilitates interbank borrowing in foreign currencies Toggle share menu
Advertisement
China facilitates interbank borrowing in foreign currencies China witnessed on Monday its first interbank borrowings in foreign currencies using foreign currency-denominated negotiable certificate of deposits (NCDs) as collateral, the Shanghai Clearing House said.
FILE PHOTO: Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken February 10, 2020. REUTERS/Dado Ruvic/Illustration
17 May 2021 07:55PM Share this content
Bookmark
SHANGHAI: China witnessed on Monday its first interbank borrowings in foreign currencies using foreign currency-denominated negotiable certificate of deposits (NCDs) as collateral, the Shanghai Clearing House said.
The completion of such repurchase agreements by six Chinese banks marks a broadening of the types of collateral eligible for foreign-currency interbank lending, t
BusinessWorld
April 29, 2021 | 3:26 pm
Huawei Technologies Co.’s revenue shrank for a second straight quarter after U.S. sanctions devastated the embattled Chinese tech giant’s smartphone business.
Huawei reported a 17% decline in sales to 152.2 billion yuan ($23 billion) in the first three months of this year, the company said in a statement. That follows a 11% decline in revenue for the three months ended December. Its profit margin rose 3.8 percentage points to 11.1%, which translates into net income of 16.9 billion yuan, as the company trimmed costs and received a $600 million patent license fee.
“2021 remains a challenging year for Huawei, but it also marks the start of a clear strategy for the company’s future,” rotating Chairman Eric Xu said in the statement Wednesday. “Huawei will continue to focus on technological innovation and investing in R&D to ensure supply continuity under sanctions.”