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China’s Property Crisis: Why It’s So Hard for Beijing to Fix

China’s stock market was plunging and its currency was teetering. The head of the central bank, fielding questions at a rare news conference, said that China would make it easier […]




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China Central Bank Cuts Key Interest Rate on Bank Lending

Stocks in China tumbled and the currency weakened on Monday after the country’s central bank announced a smaller-than-expected cut in a key interest rate.Many investors and economists had been expecting […]







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With ‘Zero Covid’ Behind It, China’s Economy Starts to Recover

China’s consumers, while wary of big-ticket purchases like cars or apartments, are spending again. Many factories are still running below capacity, but exports are strengthening. Even as construction of new […]




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To Rein in China’s Banks, Xi Uses Familiar Playbook

To a man with a hammer, a renowned psychologist once posited, everything looks like a nail.For most of his decade in power, Xi Jinping, China’s leader, has usually arrived at […]




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Shock Waves Hit the Global Economy, Posing Grave Risk to Europe

Russia’s invasion of Ukraine and the continuing effects of the pandemic have hobbled countries around the globe, but the relentless series of crises has hit Europe the hardest, causing the […]




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Ant is changing how consumers borrow money from its app

In December 2020, Beijing laid out a guideline for Ant Group to “rectify” its business after calling off its IPO, which could have been the largest initial public offering in […]




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Ant Group Announces Overhaul as China Tightens Its Grip

China’s fast-moving campaign to curb the power of internet giants has hit its latest mark: Ant Group, the fintech sister company of the e-commerce behemoth Alibaba.Ant announced on Monday that […]




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China’s Stronger Currency Could Be a Fig Leaf for Biden

HONG KONG — China’s economy has come roaring back from the depths of the coronavirus pandemic, and its currency has joined the ride.The currency, known variously as the yuan or […]




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Ant Group’s I.P.O. Is Halted by Shanghai Stock Exchange

Ant Group challenged China’s state-dominated banking system by bringing easy-to-use payments, borrowing and investing to hundreds of millions of smartphones across the country. On Tuesday, Chinese officialdom reminded the company […]