China lays out contrasting vision for financial system, rejects ‘predatory’ Western outlook

China lays out contrasting vision for financial system, rejects ‘predatory’ Western outlook

The commission also had strong words for the consequences it found that theory has wrought. “Under the capitalist ideology and social system, finance capital reveals its monopolistic, predatory and vulnerable nature,” it said. “It not only creates a huge gap between rich and poor, but also triggers recurring economic and financial crises.” To control those…

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China banks, Hong Kong, local govt financing vehicles

China banks, Hong Kong, local govt financing vehicles

A pedestrian walks pass a branch of Industrial & Commercial Bank of China (ICBC) in Fuzhou, Fujian province of China. VCG | Getty Images Moody’s Investors Service cut its outlook for eight Chinese banks to negative from stable on Wednesday, following an identical downgrade to China’s government credit ratings a day earlier. The ratings agency…

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Love cover: China couple sue insurance firm for refusing to honour policy with US,400 payout for decision to live happily ever after

Love cover: China couple sue insurance firm for refusing to honour policy with US$1,400 payout for decision to live happily ever after

The policy stipulated that if the couple married between three and 10 years after the policy was purchased, specifically between March 2021 and March 2028, they would receive a payout of 9,995 yuan. However, after the couple tied the knot on December 1, 2022, and submitted the required claim documents, the insurance company refused to…

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