China Specialist Correspondent
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Sep 22, 2011

China ex-minister says BRICS euro fund unfeasible

BEIJING, Sept 22 (Reuters) – Brazil’s proposal that large
emerging economies jointly provide new funds to help ease the
crisis in the euro zone is not feasible, Wei Jianguo, a former
Chinese vice commerce minister, told Reuters on Thursday.

South Africa’s Finance Minister Pravin Gordhan said earlier
that BRICS countries, namely Brazil, Russia, India, China and
South Africa, will talk about the idea at Thursday’s Washington
meeting of emerging economies.

Aug 12, 2011

China delays retirement of senior state banker: sources

BEIJING (Reuters) – Chinese President Hu Jintao has delayed the retirement of China Development Bank’s (CDB) chairman, sources said, suggesting that Beijing wants to keep a steady hand at the helm of the country’s most powerful policy bank at a time of rising economic risks and global market volatility.

In its policy role, state-owned CDB provides loans to China’s largest infrastructure projects and offers financial aid for China’s industrial giants to internationalize.

Aug 8, 2011

Behind the bluster, China reprices U.S. risk

BEIJING (Reuters) – Chinese editorials flaying Washington for fiscal recklessness over its debt dramatics and downgrade mask a growing unease in Beijing: a fear that China’s own economic policies are shifting too slowly.

Interviews with a dozen high-ranking Chinese officials and government economists revealed frustration with China’s self-imposed fetters to the U.S. dollar and louder calls for a change, but no clear short-term plan to break free.

Aug 8, 2011

China should stand pat on U.S. debt – ex lawmaker

BEIJING (Reuters) – China should sit tight on its U.S. Treasuries investment and adopt a “no buy, no sell” strategy, former top Chinese parliamentary official Cheng Siwei said on Monday as Asian stocks tumbled on a historic downgrade of U.S. debt rating.

Taking aim at how China should invest its $3.2 trillion in foreign exchange reserves, the world’s largest, Cheng said China should use future reserves to buy other bonds and to make foreign direct investments.

Aug 8, 2011

Analysis: Behind the bluster, China reprices U.S. risk

BEIJING (Reuters) – Chinese editorials flaying Washington for fiscal recklessness over its debt dramatics and downgrade mask a growing unease in Beijing: a fear that China’s own economic policies are shifting too slowly.

Interviews with a dozen high-ranking Chinese officials and government economists revealed frustration with China’s self-imposed fetters to the U.S. dollar and louder calls for a change, but no clear short-term plan to break free.

Aug 3, 2011

China considers new regulator for state financial sector

BEIJING, Aug 3 (Reuters) – China is considering a proposal
to create a ministerial-level body to manage its state-owned
banks and non-bank financial enterprises, two sources with
knowledge of the plan said, a move that would strengthen
Beijing’s grip on its lenders.

China’s motivations for the move weren’t clear, but the step
could help the government tighten its control over the financial
sector at a time when worries about local debt obligations are
intensifying.

Aug 3, 2011

Exclusive: China mulls new regulator for state financial sector

BEIJING (Reuters) – China is considering a proposal to create a ministerial-level body to manage its state-owned banks and non-bank financial enterprises, two sources with knowledge of the plan said, a move that would strengthen Beijing’s grip on its lenders.

China’s motivations for the move weren’t clear, but the step could help the government tighten its control over the financial sector at a time when worries about local debt obligations are intensifying.

Aug 3, 2011

Exclusive – China considers new regulator for financial sector

BEIJING (Reuters) – China is considering a proposal to create a ministerial-level body to manage its state-owned banks and non-bank financial enterprises, two sources with knowledge of the plan said, a move that would strengthen Beijing’s grip on its lenders.

China’s motivations for the move weren’t clear, but the step could help the government tighten its control over the financial sector at a time when worries about local debt obligations are intensifying.

Jul 27, 2011

China boosts naval power with carrier program: sources

BEIJING (Reuters) – China is building two aircraft carriers as part of a military modernization program that is causing concern among other Asian countries, sources said on Wednesday.

President Hu Jintao has made the navy a keystone of China’s defense upgrade, and the carriers will be among the most visible signs of its rising military prowess.

Jul 27, 2011

Exclusive – China boosts naval presence with carrier programme

BEIJING (Reuters) – China is building two indigenous aircraft carriers as part of a broad modernisation programme that has rattled nerves regionally, sources said on Wednesday, as the government confirmed it was refitting an old Soviet carrier for training.

China is ramping up military spending as the United States discusses cutting its defence budget, though the Washington still far outspends China on security and is much more technologically advanced.

    • About Benjamin

      "Ben is based in Beijing and covers China regulatory news. He is an ethnic Chinese born and raised in the Philippines, and spent 13 years in Beijing and 15 years in Taipei. He joined Reuters in 1991, serving as Beijing bureau chief from August 2008 to August 2010 and Taipei bureau chief from February 2000 to December 2002."
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