The draft regulation from the People’s Bank of China will be finalised after feedback is received by late August. Photo: Bloomberg

China’s central bank issues draft rules on financial holding companies in move to rein in risk

  • Firms with two types of financial business must apply for licence within six months of regulation taking effect and have US$726 million registered capital
  • People’s Bank of China says ‘regulatory vacuum has led to risk accumulation and exposure’
Topic |   China economy

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The draft regulation from the People’s Bank of China will be finalised after feedback is received by late August. Photo: Bloomberg
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Chinese Vice-Premier Liu He will meet US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer. Photo: Reuters

China, Donald Trump keep expectations low ahead of trade talks in Shanghai

  • Next round of negotiations – the first since early May – will be held at symbolic venue for bilateral relationship, the Xijiao State Guest Hotel
  • Chinese state media does not expect any big breakthrough this week, and US president says Beijing could hold out on a deal until after 2020 election
Topic |   US-China trade war

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Chinese Vice-Premier Liu He will meet US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer. Photo: Reuters
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