China's outstanding green loans currently exceed 22 trillion yuan, accounting for about 10% of the country's total loan balance, People's Bank of China Governor Yi Gang said on Wednesday. Separately, China's green bonds have hit more than 2.5 trillion yuan, Yi said at the Boao Forum in southern China's Hainan province.
China is creating a policy environment to promote green and low-carbon development, Zhao Chenxin, deputy director of the National Development and Reform Commission, told the Boao Forum in the southern Chinese province of Hainan on Wednesday. China has set so-called "dual carbon" goals, which aim to peak carbon dioxide emissions by 2030 and achieve carbon neutrality before 2060.
Hong Kong stocks surged in early morning trade on Wednesday, boosted by a jump in Alibaba's (BABA) shares following the internet giant's split-up and listing plan. Alibaba Group (BABA) is planning to split into six units and explore fundraisings or listings for most of them, in a major revamp as China vows to ease a sweeping regulatory crackdown and support its private enterprises.
China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building "Belt and Road" infrastructure, a study published on Tuesday showed.
The European Union has agreed to allow retaliation against countries that put undue economic pressure on EU members to change their policies, such as the trade restrictions the bloc says China has imposed on Lithuania. Representatives of the European Parliament and the Council, the grouping of EU countries, reached a provisional deal on the anti-coercion instrument early on Tuesday.
China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building "Belt & Road" infrastructure, according to a study published Tuesday.
Alibaba founder Jack Ma has returned to China, ending a more than year-long stay overseas that was viewed by industry as reflecting the sober mood of China's private businesses and troubled policymakers trying to spur the economy. The return of China's best-known entrepreneur may help to quell the concerns of the country's private-sector businesses after a bruising two-year regulatory crackdown.
* MSCI EM stocks index headed for 1% gain in Q1. * Geopolitical tensions also weigh on mood. * Cbank meetings from Colombia, Thailand, Hungary eyed during week. * Brazil's Lula cancels trip to China due to pneumonia. By Shreyashi Sanyal.
Alibaba (BABA) founder Jack Ma has returned to China, ending a stay overseas of more than a year that industry viewed as reflecting the sober mood of its private businesses, and which sources said eventually spurred the new premier to reach out. The return of China's best-known entrepreneur may help to quell the concerns of its private sector after a bruising two-year regulatory crackdown.
* China Jan-Feb industrial profits -22.9% y/y vs -4.0% for 2022. * Recovery far from on solid footing, demand and cost woes persist. The slump in Chinese industrial firms' profits deepened in the first two months of 2023, weighed by lacklustre demand and stubbornly high costs as the world's second-largest economy struggled to fully shake the long-term effects of COVID.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
PDF’s require Adobe® Reader® and will open in a new window.
Log In Required
Line of Credit Log In Required