China has drafted rules banning banks from evading lending limits by structuring loans to other financial institutions so that they can be recorded as asset sales, two people with knowledge of the matter said. The regulations drawn up by the China Banking Regulatory Commission impose restrictions on lenders’ interbank business by banning borrowers from using [...]
A war of words between Japan and China over a territorial dispute escalated Monday, with each country summoning the other’s ambassador and Japanese Prime Minister Shinzo Abe calling a newly declared Chinese maritime air defense zone dangerous and unenforceable. Abe told a parliamentary session that the zone alters the state of affairs in the East [...]
Asia’s top oil refiner Sinopec (0386.HK)(600028.SS) has cut production for at least two of its refineries in China’s eastern Shandong province after the pipeline blast which killed 55 people on Friday, industry sources said. The adjustments are part of a juggling of oil refining operations across its plants after the disaster, which has sparked a [...]
China declared an air defense identification zone in the East China Sea amid a territorial dispute with Japan, warning its armed forces will take “defensive emergency measures” if aircraft fail to comply. A map, details of the zone’s coordinates and rules governing the area were posted on the Ministry of Defense’s website today, along with [...]
China’s local government debt is at a controllable level although risks are increasing in some areas and projects due to a lack of transparency, a finance ministry official at a think tank was quoted as saying by the official People’s Daily. Jia Kang, head of the Research Institute of Fiscal Science, said in comments published [...]
China and India’s success in weakening the latest global warming agreement created friction with other developing nations that are seeking to step up the fight against climate change. The two countries insisted on single-word changes for a deal at a United Nations conference involving 190 nations on Nov. 23. Instead of making “commitments” to roll [...]
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