Four months after the State Council, China’s cabinet, unveiled a nine-point document aimed at restoring investors’ confidence and attracting long-term funds, the market is back in a downward spiral after a relief rally. There are telltale signs of investors shunning stocks: turnover on the Shanghai and Shenzhen exchanges has plunged to a four-year low, the
Foreign investors have pulled a record £12bn out of China in an economic blow for President Xi Jinping. Fears over the future of the world’s second largest economy meant foreign investors withdrew $14.8bn (£11.6bn) between April and June, data from the State Administration of Foreign Exchange shows. It was only the second time more foreign money
In a commencement speech that unexpectedly went viral, Professor Li Feng of the Shanghai Advanced Institute of Finance (SAIF) told graduates that financial workers should not be ashamed of their careers. His words resonated deeply, underscoring a growing sentiment in China: the golden age of high-flying financial careers is fading. The speech’s viral spread highlighted
China plans to cap the annual salaries of financial workers at around 3 million yuan (US$412,460), as the government doubles down on its campaign to eradicate extravagance and hedonism from the industry and narrow the wealth gap amid a persistent downturn in economic growth, according to people familiar with the matter. The limit will be
On April 23-24, 42 diplomats from 29 embassies, including 20 African ambassadors in China, met at a retreat in Beijing to work on setting the FOCAC agenda. The retreat was jointly organised by Beijing-based consultancy Development Reimagined and the African Union representative office in China. Attendees went over commitments that were made at the last
(File) Bangladesh’s Prime Minister Sheikh Hasina, left, shakes hands with Chinese President Xi Jinping as she arrives for a meeting at the Diaoyutai State Guesthouse in Beijing, on 5 July, 2019. AP According to reports in the Bangladesh media, the Prime Minister’s Office has approved seeking over 36 billion yuan, approximately $5 billion, as a