Veteran banker Zhu Hexin has been named as the new communist party chief of China s foreign-exchange regulator, succeeding Pan Gongsheng, who heads up the country s central bank. Zhu was also. -November 24, 2023 at 02:24 am EST
- MarketScreener
Zhu Hexin’s political pedigree is a bit different than some of his predecessors, starting with a factory job and working his way to the upper echelon of Chinese finance.
By Rebecca Feng China s Zhongzhi Enterprise Group has at least $31 billion more liabilities than assets and now faces significant going concern risks, it said in a letter to investors this. -November 23, 2023 at 05:46 am EST
- MarketScreener
Prudential’s CEO Anil Wadhwani, who is the first global head in 175-year history of the British insurer to be based in Hong Kong, vows to continue to use Hong Kong as centre for its expansion in Asia and Africa after he witnesses strong growth in the city in post-Covid-era.
China Huarong Asset Management returned almost $2 billion to Citic Group through an investment, in a sign of closer ties after the financial conglomerate led a bailout of the bad debt manager two years ago, reports Caixin. Huarong agreed to buy a 5% stake in Citic for HK$13.6 billion ($1.7 billion) from another one of…