China’s central bank has revealed that it is co-operating with the European Union to converge green investment taxonomies across the two markets, aiming to implement a jointly recognised classification system for the environmental credentials for businesses by the end of this year. Yi Gang, the governor of the People’s Bank of China, said at the China Development Forum in March that the primary goal of the central bank over the next five years was to implement and standardise a green finance system in the country in co-ordination with global partners.
Kenya is terminating its contract with Chinese-owned Africa Star Railway Operation Company (Afristar) for the operation of the Standard Gauge Railway, a move expected to save the country more than US$120 million in annual fees.
It’s time for mainland China money to make a bigger splash in the world, starting with Hong Kong, after restraints put on Chinese foreign investment in the last half-decade.
Getting a loan from one of China’s two largest policy banks is significantly more difficult than it was just a couple of years ago. According to data from Boston University’s Global Development Policy Center, lending by the China Development Bank and the China Exim Bank plunged 94% from $75 billion in 2016 to just $4 billion in 2019.
Some of the world’s biggest sovereign wealth funds and public pension funds are getting caught in the escalating tensions over technology between the United States and China, a Reuters analysis of their filings data and public disclosures show.
China’s big state-owned firms are likely to face growing pressure to make payments on their debt this year as Beijing moves to tighten credit growth, government researchers and analysts said.
China’s target of achieving carbon neutrality by 2060 might at first sight seem extraordinarily – perhaps ludicrously – ambitious, given the country’s status as the world’s biggest emitter of CO2, a by-product of the vast industrial complex which is the foundation of the country’s fast-track economic success.
Top mutual fund firm Vanguard Group has sold its stakes in certain Chinese securities to comply with a United States ban on Americans from investing in companies it deems to have links with China’s military.
China’s transformation into the world’s manufacturing powerhouse has been remarkable. When it joined the World Trade Organization (WTO) in 2001, it was a minor player on the global manufacturing stage. But after years of reforming its economy around producing goods for export, its formal entrance to the WTO helped its output soar. In the years since, it has offered itself up as the world’s low-cost factory, making labor-intensive products such as textiles, toys, clothes, footwear, and furniture for companies, and ultimately consumers, around the globe.