BEIJING, May 30 (Xinhua) -- China's insurance sector has raised 16.6 trillion yuan (about 2.33 trillion U.S. dollars) for the real economy by the end of the first quarter (Q1), the country's banking and insurance regulator said. … [Read more...] about China’s insurance sector raises 16.6 trn yuan for real economy
China export and credit insurance corp
MUMBAI: India's cotton exports could rise to 4.7 million bales in 2019/20, up 12 per cent from the previous estimate, as a fall in the value of the rupee to a record low made shipments competitive, a trade body forecast. Higher exports by the world's biggest cotton producer could put pressure on global prices, which are trading near their highest level in more than two months. Indian exports could also limit shipments from rivals such as the United States, Brazil and Australia to key Asian buyers such as China, Bangladesh and Vietnam. The rupee's fall has made Indian cotton the cheapest in the world and attractive for Asian buyers, Atul Ganatra, president of the Cotton Association of India (CAI) said. Indian cotton was sold at around 62 cents per pound on a cost and freight basis (C&F) to Asian buyers such as Bangladesh, while the supplies from the United States were available at around 70 cents, Ganatra said on Monday. The South Asian country exported 4.2 million bales in … [Read more...] about Weak rupee leads Indian trade body to lift cotton export estimate
Goldman, which has spent years lobbying for control of its onshore business, won approval this year. Chief Executive Officer David Solomon has pledged to infuse its mainland business with hundreds of millions of dollars in new capital as the bank plans to embark on a hiring spree to double its workforce to 600 and ramp up a wide variety of businesses. … [Read more...] about Wall Street has billions to lose in China from rising strain
HONG KONG: Bankers and investors fear China's push to impose national security laws on Hong Kong threaten the city's future as an international financial centre. If it gets to that stage, Beijing's move will come at a cost for China's economy. WHY DOES CHINA NEED HONG KONG AS IT IS? China still has extensive capital controls and often intervenes in its financial markets and banking system. Hong Kong is one of the world's most open economies and one of the biggest channels for equity and debt financing. The size of Hong Kong's economy may only be the equivalent of 2.7% of mainland China's, down from 18.4% in 1997 when it reverted to Chinese rule, but the territory punches above its weight due to world-class financial and legal systems. As a gateway between China and the West, Hong Kong attracts global capital for China more efficiently than its other cities. HOW IS THAT CHANGING? Under the 'one country, two systems' formula agreed as part of Britain's handover of the territory … [Read more...] about How important is Hong Kong to China as a free finance hub?
New Delhi took longer to reject Trump’s mediation offer on China in contrast. There was a view in certain quarters in the Indian foreign policy establishment that the offer of help, though dead on arrival, would irk China, which has responded with prickly no-thank-you. “We are capable of properly resolving the issues between us through dialogue and consultation. We do not need the intervention of a third party,” a spokesperson told reporters in Beijing. “Between China and India we have existing border-related mechanisms and communication channels.” … [Read more...] about Trump defends India-China mediation offer as effort to address PM Modi’s ‘mood’