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Fons Tuinstra
8,912 followers -
President China Speakers Bureau, new media advisor
President China Speakers Bureau, new media advisor

8,912 followers
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China moves to defuse local government debt bomb - SCMP

China’s Finance Ministry is investigating possible irregularities in the ways several local governments have obtained loans, as part of ­wider efforts to keep borrowing in check and avoid widespread ­defaults.
According to a notice seen by the South China Morning Post, the ministry last month asked provincial governments in Inner Mongolia, Shandong, Henan, Chongqing and Sichuan to address the irregularities.
The notice was copied to the Ministry of Commerce and the China Banking Regulatory Commission, asking the two bodies to pay special attention to the institutions involved.

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China Said to Mull Curbs on Private Bonds Sold by Property Firms - Bloomberg

One of China’s bond regulators is considering curbing property developers’ private note sales, people familiar with the matter said.

The Securities Association of China, which operates under the China Securities Regulatory Commission, is seeking opinions on the restrictions under consideration. Builders that aren’t qualified to sell public bonds regulated by the CSRC will be added to the association’s list of companies banned from issuing securities in private placements. Two calls to the general office of SAC went unanswered.

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China Said to Probe Speculation in Commodity Futures Rally - Bloomberg

China’s top economic planner is investigating whether speculation has distorted commodity futures prices, due to concerns that the recent rally will drive inflation higher, according to people with knowledge of the matter.

The National Development & Reform Commission this month questioned futures brokers on whether distortion had occurred, said the people, who asked not to be identified because the information is confidential. The agency is worried over the potential impact on producer and consumer prices, they said.

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China's Big Banks Pay Price Abroad for Neglecting Fight Against Money Laundering - Caixin

At their annual meeting in February, People’s Bank of China officials pledged a tougher fight against money laundering.
A few days later, the China Banking Regulatory Commission complemented that pledge by urging Chinese banks with overseas operations to intensify the battle against money laundering and terrorism financing.
Behind this clarion call by Beijing’s bank supervisors was an unnerving realization that some of the nation’s biggest banks had left themselves vulnerable to anti-money-laundering sweeps by regulators abroad.

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Former China Resources chairman stands trial for corruption - SCMP

Former China Resources Group chairman Charley Song Lin, who was once the top executive of Beijing’s state-owned enterprises in Hong Kong, stood trial Monday on corruption charges.
Song is one of the most senior Hong Kong-based SOE bosses to be prosecuted by mainland authorities since 1997.

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Hundreds arrested in China crackdown on "underground banks" - SCMP

China’s police authority said it busted more than 380 “underground banks” last year, involving over 900 billion yuan (US$131 billion) as the authorities attempt to stem an exodus of cash flowing out of the country.
The Ministry of Public Security said in a statement on its website on Sunday that more than 800 suspects involved in money laundering were arrested and it found that illegal banking operations were “rampant” across the country, helped by the emergence of internet finance and new online payment methods.

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Labor: China's massive challenge - Ben Cavender

Rising wages has already put China in the same cost-league as Portugal and South-Africa, forcing manufacturers to low-wage countries. But that is only one challenge for a major shift in the labor market, says business analyst Ben Cavender to CNBC.

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Why most startups should avoid China - William Bao Bean

It sounds odd to hear from the managing director if the Chinaccelator in Shanghai, but William Bao Bean sees it as a success when startups decide to avoid the China market and explore other markets. "Interestingly enough, the greatest help that Chinaccelerator can give to start-ups considering China is convincing them otherwise," he tells Inc-ASEAN.

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China's new top-planner did not perform well - Victor Shih

Amid the reshuffle of China's top-officials, He Lifeng will take the helm at the powerful National Development and Reform Commission. But some senior analysts doubted his skills as a planner. Just look at his work in Tianjin, says political analist Victor Shih in AP.

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IPO-hungry tech firms might jump the queue in China - Paul Gillis

Financial authorities in Beijing are playing with the idea to give tech firms a faster-track IPO in China, says accounting professor Paul Gillis at his weblog. Taking away some of the cumbersome restrictions for IPO's in China might lead to the expected ban of variable interest entity or VIE's, a side-track allowing Chinese firms to list in the US, he suggests.
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