News
The government in Beijing wants to establish the renminbi as a global reserve currency. While the Chinese currency is becoming increasingly popular for trade and financial transactions, it has so far been unable to pose much of a threat to the US dollar. There is simply a lack of confidence in the Chinese financial system, according to Arvind Subramanian and Josh Felman.
By Ning Wang
The entire financial arm of the Alibaba Group will be regulated like a financial house in the future. Not without reason: Ant Financial already originates more than a fifth of consumer loans in China. With Ant's classification as a financial holding company, the company must also adjust its capitalization. A measure to mitigate credit risks.
By
Chinese video app Tiktok's biggest competitor is going public in Hong Kong on Friday. The company is expected to reach a market valuation of $60 billion at the start of trading. Although Kuaishou's business is growing rapidly, the startup is struggling with several problems. International expansion has been slow. Recent tighter laws in China are also slowing Kuaishou down.
By Redaktion Table
