Six held in Spain court probe into ICBC bank

A Spanish judge has ruled that six executives of China’s state- owned ICBC bank in Madrid should be detained pending a judicial probe into suspected money laundering and tax fraud, a court statement

Top securities regulator steps down amid turmoil

China’s top securities regulator will step down following months of turmoil in Chinese stock markets that have battered faith in Beijing’s economic management. The departure of Xiao Gang, a legal expert with

Debt seen rising through 2019, peaking at 283 percent of GDP

  China’s ratio of debt to its economic size is seen climbing for at least another four years, underscoring the risks facing policy makers as they strive to prevent a deeper

Xi’s probes spur sleuthing by risk consultants as defaults rise

Chinese President Xi Jinping’s anti-graft drive is fueling demand for risk consulting among investors in the nation’s corporate debt after defaults tied to probes. That’s buoying business for consultancy Kroll. “If

Beijing says ICBC bank to help Spanish police in fraud probe

China says its state-owned ICBC bank will cooperate with Spanish authorities investigating it in a money laundering and tax fraud probe that has led to the arrest of five directors. Chinese

Apple Pay launches in China where e-payments widely used

Apple Inc. launched its smartphone-based payment system in China where the electronic payments market is already dominated by an arm of e-commerce giant Alibaba. Apple said “Apple Pay” could be used

Obama opposes bill to rename Chinese Embassy address

The Obama administration said that the president would veto legislation to rename the area in front of the Chinese Embassy in Washington after a prominent Chinese political prisoner. State Department

South China Sea | Obama, SE Asian leaders seek resolution to maritime disputes

  President Barack Obama and the leaders of Southeast Asia called yesterday for peaceful resolution of the region’s maritime disputes as they concluded a summit in California. Obama told a news

Vietnamese gather to commemorate border war with China

More than 100 people gathered in Hanoi yesterday to commemorate the anniversary of the start of Vietnam’s brief but bloody border war with China. Thirty seven years ago, 600,000 Chinese troops

South China Sea | Foreign minister Wang downplays missile deployment reports

Foreign Minister Wang Yi yesterday sought to downplay reports that China had positioned anti-aircraft missiles on a disputed South China Sea island, accusing the media of hyping the issue and

Chinese ship to leave Australia to search for Flight 370

The first Chinese ship to search for the Malaysian airliner that vanished almost two years ago is due to depart Australia today for the southern Indian Ocean equipped with state- of-the-art

Views on China | Chinese thirst for wine has Chile raising a glass

Between a sharp economic downturn and corruption scandals, Chileans haven’t had a lot to celebrate lately. So when Chilean authorities announced that China had become the country’s biggest buyer of

China turns on taps and loosens screws in bid to support growth

China is stepping up support for the economy by ramping up spending and considering new measures to boost bank lending. The nation’s chief planning agency is making more money available to

‘Tombstone’ | Beijing forbids Great Famine author from taking Harvard prize

A former journalist with China’s official news agency says he has been blocked from traveling to the United States to accept a Harvard University prize for a 2008 book uncovering

2 Uighur suspects in Bangkok bombing plead innocent

  Two Uighur Muslims from China pleaded innocent yesterday to carrying out the deadly bombing of a Bangkok landmark last year, with one man’s lawyer saying his client claims to have

EU steel workers protest against cheap Chinese imports

Steel company managers joined thousands of their employees from across the European Union to protest yesterday against the import of cheap Chinese products and to warn the 28-nation bloc not

Tianjin moves 10 chemical plants after explosion review

The Tianjin Binhai New Area suffered one of China’s worst industrial accidents in August when a warehouse storing combustible chemicals exploded less than one kilometer away from apartments — the

HSBC to keep HQ in London, decides against move to Hong Kong

Britain’s biggest bank is staying put. HSBC Holdings plc said it will keep its headquarters in London, ending a 10-month process in which one of the world’s largest financial companies considered

Economy | China’s trade tumbles in January

China’s trade tumbled in January, in a possible fresh sign of the weakness confronting the world’s No. 2 economy. Exports fell 11.2 percent to USD177.5 billion, a sharp deterioration from the

First Chinese train arrives in Tehran to revive Silk Road

Iran’s state TV says the first Chinese commercial train has arrived in Tehran to revive the Silk Road — an ancient network of trade routes running through Asia. Yesterday’s report quotes

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