Monthly Archives: October 2019

Profits of China’s Big Five banks hold up despite lending rate squeeze

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China’s Big Five banks have posted stable to stronger profit growth for the third quarter, thus far defying top bankers’ expectations of a difficult second half after a government push to cut lending rates.The country’s central bank unveiled a key interest rate reform in August to help steer borrowing costs lower for companies and support
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Mainlanders in Hong Kong worry as anti-China sentiment swells

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As anti-government protests simmer in Hong Kong, some demonstrators are increasingly focusing their anger on mainland Chinese in the city, hurling abuse and, in some cases, beating them.More than one million mainland Chinese live and work in Hong Kong, according to official figures, many of them in the city’s bustling finance industry that serves as
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China’s Huawei sees 480 million households worldwide with 5G access by 2025

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China’s Huawei Technologies expects around 480 million households worldwide will have access to fifth-generation (5G) broadband service by 2025, the chief executive of its Brazilian telecoms operations said on Tuesday.Speaking at a major telecoms event in Sao Paulo, Derrick Sun, of Huawei Brasil, noted the company sees more than 70 countries allocating spectrum to 5G
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China passes cryptography law as gears up for digital currency

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China’s largely rubber stamp parliament has passed a new law on cryptography as the country gears up to launch its own digital currency, state media reported late on Saturday.China’s central bank set up a research team in 2014 to explore launching its own digital currency to cut the costs of circulating traditional paper money and
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