Tag Archives: china

China becomes world’s second largest stock market, overtaking Japan

China stock market

The capitalization of the Chinese stock market increased 33 percent in 2014 reaching $4.48 trillion, which makes the market second only to the US. Japan’s stock market declined 3.2 percent to $4.46 trillion in 2013, according to Bloomberg analysts. The Chinese market surge came hot on the heels of allowing foreign investors unprecedented access to mainland shares through the merger ... Read More »

China opens up $4.2 trillion stock market

Chinese stock exchange Hong Kong

The Chinese mainland is now open for business, at least in terms of its $4.2 trillion capital market. The Shanghai and Hong Kong stock exchanges are now linked giving foreign investors access to the tightly-controlled Chinese capital markets. Stock Connect debuted on November 17, and for the first time, stocks on both markets can be traded freely, a major step ... Read More »

China hoarding gold to challenge the US dollar

China gold dragon

In a world filled with fiat currencies, how important is gold‘s role in the financial system? Proponents often view the precious metal as a hedge against economic chaos, while critics typically claim gold is hardly more than an unproductive rock. Interestingly, some countries appear to believe gold is quite important, and one former Fed chair explains why. Alan Greenspan, who ... Read More »

US trade deficit with China hits record high

China imports

Americans bought record amounts of goods from China in September, pushing the trade gap between the world’s largest economies to a historic high, according to U.S. Commerce Department data published Tuesday. September imports from the Asian giant hit $44.9 billion, up nearly 13% on the month, as the U.S. economy gained steam. The import and trade gap numbers—unadjusted for inflation and exchange rates–are the largest ... Read More »

China passes law to protect whistleblowers who expose corruption

Whistleblower China

Chinese authorities have said, for the first time, that whistleblowers will receive legal protection amid the country’s ongoing fight against corruption. The Supreme People’s Procuratorate, the country’s top prosecuting body, said in a Tuesday statement that new regulations outline legal rights for those exposing corruption and other malpractice. It urged people to file their reports via official channels and do ... Read More »

China, 20 others launch World Bank rival in Asia

China AIIB World Bank rival Asia

China has launched the $100 billion Asia Infrastructure Investment Bank (AIIB). Australia, Indonesia and South Korea were absent following hidden pressure from Washington concerned about the new challenge to the World Bank and Asian Development Bank. The memorandum of understanding was signed on Friday in Beijing. The development bank was proposed a year ago by Chinese President Xi Jinping, and ... Read More »

China wants to strengthen military ties with Iran

Iran and China military alliance

China wants to strengthen its military ties with Iran, the nation’s Defense Minister said today, confirming Beijing’s commitment to expand diplomatic and political connections with Tehran despite concerns over the Islamic Republic’s nuclear program. The Defense Minister of the People’s Republic of China Chang Wanquan said that the two nations’ militaries have practiced “good cooperation on mutual visits, personnel training, ... Read More »

China’s central bank to inject $81b stimulus into top 5 banks

Chinese central bank

China‘s central bank is injecting 500 billion yuan ($81 billion) into the country’s five major state-owned banks as it moves to counter slower-than-expected growth in the world’s No. 2 economy, according to a senior Chinese banking executive. The move contributed to a rise in Asian markets early Wednesday, but falls short of a more sweeping effort, such as an interest-rate ... Read More »

Russia & China sign currency swap deal worth $25 billion

Yuan China

The central banks of China and Russia have signed a 3-year ruble-yuan currency swap deal up to $25 billion, in order to boost trade using national currencies and lessen dependence on the dollar and euro. On Monday, China’s Central Bank announced the 150 billion yuan (815 billion ruble) currency swap between the Russian ruble and Chinese yuan. In terms of ... Read More »

Air pollution in China reaches hazardous levels

China Beijing pollution smog

Beijing raised its pollution alert from yellow to orange, the second highest, Friday as pollution levels reached 20 times recommended limits. By 4pm Friday the Air Quality index in Beijing reached 470, with anything over 300 considered severe pollution, while in neighboring Hebei province Dangerous PM2.5 particles climbed above 500 micrograms per cubic meter, forcing the Chinese authorities to issue ... Read More »