Reuters Asia

(Reuters) – A senior official at the People’s Bank of China said on Saturday the collapse of Silicon Valley Bank (SVB) showed how rapid monetary policy shifts were having spillover effects, state-owned newspaper Shanghai Securities News reported. Xuan Changneng, a deputy governor at the People’s Bank of China told the Global Asset Management Forum in …

China’s central bank warns SVB failure shows impact of rapid global rate hikes- state media Read More »

SHANGHAI (Reuters) – China will encourage foreign capital to participate in its financial markets and may allow foreign-funded financial institutions to go public in the country when “conditions are ripe”, local media quoted a former finance minister as saying on Saturday. Such moves would be in line with the country’s opening up of its financial …

Beijing may allow foreign financial firms to list in China – ex-finance minister Read More »

SHANGHAI (Reuters) – China’s central bank made a “timely” move by pumping liquidity into the banking system to respond to rising pressures in the domestic banking industry and growing risks abroad, a state-owned Chinese newspaper said on Saturday. The central bank on Friday reduced the amount of cash banks must hold as reserves for the …

China cuts reserve ratio given domestic pressures, overseas risks – state media Read More »

BEIJING (Reuters) -China has fined auditing firm Deloitte 211.9 million yuan ($30.8 million) for failing to perform its duty in assessing the asset quality of China Huarong Asset Management Co Ltd, the finance ministry said on its website on Friday. Deloitte’s Beijing operations also will be suspended for three months, the ministry said in a …

China fines Deloitte $31 million for auditing negligence Read More »

SHANGHAI (Reuters) -Baidu and Pony.ai said on Friday they have won permits to provide fully driverless ride-hailing services in the Chinese capital of Beijing. Baidu’s Apollo service will deploy 10 fully autonomous vehicles in a technology park developed by the government of Beijing, the Chinese ride-hailing giant said in a statement. The permit marks a …

Baidu, Pony.ai win permits to offer driverless robotaxi services in Beijing Read More »

By Stephen Nellis and Krystal Hu (Reuters) -Huawei Technologies Co Ltd has replaced more than 13,000 parts in its products that were hit by U.S. trade sanctions, the Chinese tech giant’s founder said, according to a speech transcript posted on Friday by a Chinese university. According to the transcript of the February speech posted by …

Huawei has replaced thousands of U.S.-banned parts in its products, founder says Read More »

By Allison Lampert MONTREAL (Reuters) -The United Nations aviation council on Friday voted to hear a case against Russia over the 2014 downing of Malaysia Airlines Flight MH17, the foreign ministers of Australia and the Netherlands said. Australia and the Netherlands initiated the action over MH17 last year at the International Civil Aviation Organization (ICAO). …

U.N. aviation council votes to hear MH17 case against Russia Read More »