PwC, KPMG China audits are flawed: PCAOB
CFO Dive
MAY 11, 2023
success in overcoming opposition from Beijing to the inspection of audits of China-based companies listed on U.S. The PCAOB findings follow U.S. stock exchanges.
China 
PCAOB fines 2 PwC firms in China over test cheating
CFO Dive
DECEMBER 4, 2023
auditing watchdog secured last year to inspect China-based auditing firms. The enforcements are among the first three stemming from access the U.S.
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China: House Divided | AIER
CFO News Room
JANUARY 31, 2023
There have been claims that China’s enormous economic growth and widely shared prosperity are the result of turning to capitalism. I think this is not true; China is not capitalist. So, is China Capitalist? Which brings me back to the question posed at the outset: Is China capitalist?
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China Evergrande ordered to liquidate by Hong Kong court
CFO News
JANUARY 28, 2024
China Evergrande Group, the world's most-indebted property developer, was ordered to be liquidated by a Hong Kong court. trillion yuan ($333 billion) of liabilities, Evergrande is a prominent symbol of China's real estate crisis. The wind-up could result in management being replaced and address some of the company's issues.
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Coke Goes Big on Olympics Sponsorship in China. At Home, Not So Much.
CFO News Room
FEBRUARY 2, 2022
It counts China as its third-largest market after the U.S. Here is a look at the company’s business dealings in China and its Olympic plans as the 2022 Winter Olympics are set to begin in Beijing this week. Coke Deepens China Ties. China Mengniu Dairy Co. Congressional-Executive Commission on China, Rep.
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Apple Makes Plans to Move Production Out of China
CFO News Room
DECEMBER 3, 2022
has accelerated plans to shift some of its production outside China, long the dominant country in the supply chain that built the world’s most valuable company, say people involved in the discussions. In recent weeks, Apple Inc. Turmoil at a place called iPhone City helped propel Apple’s shift.
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China Cracks Down on IPOs
Corporate Finance
JULY 22, 2021
exchange listed China-based companies totaling $2.1 China has already launched an investigation into ride-hailing app Didi. The IPO market has been hot this year, with more than 200 offerings raising over $70 billion. Of these IPOs, 30 were Chines companies, making 248 U.S. trillion in market value.
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How CFOs must deal with China's economic slump
Future CFO
DECEMBER 7, 2023
China is currently facing an economic slowdown following the pandemic, which have raised concerns among ratings agencies that led to a downgrade in the country’s debt outlook. In dealing with this situation, considering how big of a market China is, CFOs must consider the following practices: 1.Enhanced
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Tesla woos China customers with cheaper cars after Musk defers India visit
CFO News
APRIL 21, 2024
has reduced vehicle prices in China amidst stiff competition. Tesla had earlier introduced incentives in China to attract consumers, countering competition from BYD. Musk meanwhile deferred his India visit, which was aimed to tap into a new market amid declining sales and stock prices.
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Shadow credit in China to remain subdued: Moody’s
Future CFO
SEPTEMBER 25, 2023
Shadow credit in China is expected to remain subdued, said Moody’s recently. China's credit growth was a mixed picture in August, although there were early signs of recovery, suggesting that monetary and fiscal stimuli were gaining traction, the credit rating agency said. in Q2 2023 from 41.6% at the end of 2022. It fell to 39.2%
China Drafts Updates To Commercial Bank Regulations
PYMNTS
OCTOBER 16, 2020
As it aims to bolster methods of market exit and risk disposal for institutions that loan money, the central bank of China introduced a draft of updates to legislation applicable to commercial banks, Reuters reported. Runs on small financial institutions (FIs) in China have been on the uptick as of last year.
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CFOs in China to play more diverse roles in sustainability
Future CFO
MAY 10, 2022
CFOs in China are expected to play broader roles when it comes to sustainability, as a result of the country’s green finance market expansion and the increasing demand for corporate carbon emissions audit, said Deloitte recently when releasing results of its China CFO Survey.
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China's Q1 GDP grows 5.3% y/y, well above forecast
CFO News
APRIL 15, 2024
growth in China's economy for the first quarter of the year comes as a positive surprise for analysts and policymakers alike. The stronger-than-expected 5.3% This growth figure surpasses the 4.6% expansion that was anticipated by analysts, indicating resilience in the face of challenges such as the ongoing property crisis.
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Capital Flight: Foreign Investors Exit China
Global Finance
APRIL 6, 2022
Are they seeing China in a new light? The Russian invasion of Ukraine caused international investors to pause for thought on where their international investments reside.
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Report: $50B In Cryptocurrency Moved Out Of China
PYMNTS
AUGUST 21, 2020
More than $50 billion of cryptocurrency was transferred from virtual wallets in China to other parts of the world last year, a potential violation of the nation’s strict limits on how much money can be sent abroad, according to a new report.
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Mediabrands Greater China appoints CFO
Future CFO
FEBRUARY 14, 2023
Mediabrands Greater China announced recently the appointment of Crystal Zhang as CFO. She also had professional experiences from Dentsu Aegis network and WPP group in China, providing senior financial leadership including M&A and integration. Based in Shanghai, China, Zhang will report to Tharmaindran, CFO Mediabrands APAC.
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India seeks to attract $100 billion a year in FDI as it woos investors looking beyond China
CFO News
APRIL 5, 2024
India sets ambitious goal to attract $100 billion annually in foreign direct investment, aiming to diversify away from China. Rajesh Kumar Singh, secretary in the Department for Promotion of Industry and Internal Trade, expressed confidence in achieving the target over the next five years, citing a positive trend and potential for growth.
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IPOs in China to maintain pace, HK to see rebound in 2024: Deloitte
Future CFO
JANUARY 2, 2024
IPOs in China are expected to maintain its pace in 2024 while the Hong Kong market would rebound when US interest rate hikes end and funds redirect to Asia, said Deloitte China recently. This would represent a 27% drop in the number of IPOs in China and a 40% decline in funds raised. billion versus 424 IPOs raising RMB586.8
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China and Hong Kong IPOs to accelerate if two things happen
Future CFO
APRIL 12, 2022
China and Hong Kong IPOs will accelerate if the pandemic situation in China improves and the Russia-Ukraine War subsides in Q2 2022, said the Capital Market Services Group of Deloitte China recently. Return listings of China concept stocks will be the key theme, with IPOs from TMT, LSHC, and ESG companies the spotlights.
'China slows, India grows': S&P pegs 7% GDP growth for India by 2026
CFO News
NOVEMBER 28, 2023
S&P Global Ratings forecasts India's GDP to reach 7% by 2026, surpassing China's expected 4.6% The report, titled 'China Slows India Grows,' envisions a shift in Asia-Pacific's growth engine from China to South and Southeast Asia. S&P projects China's GDP to slow to 4.6% in 2024, India's to expand at 6.4%
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China Suspected In Surge Of US Cyberattacks
PYMNTS
MARCH 25, 2020
cybersecurity firm FireEye said it suspects China is behind a surge in cyberspying that began in January, just when the coronavirus was starting to seriously spread outside of China, according to a report by Reuters. and China, and more recent conflicts over the coronavirus outbreak. The attacks began on Jan.
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India far from replacing China as global growth engine: HSBC
CFO News
OCTOBER 13, 2023
HSBC Holdings has stated that India's recent economic gains are unlikely to surpass China as the main growth engine of the world economy in the near future. HSBC expects the gap between the two economies to widen, reaching $17.5 trillion by 2028.
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China-Based IPOs Raised $11.7 Billion In 2020
PYMNTS
DECEMBER 18, 2020
billion, despite a tumultuous year in China-U.S. and China over trade and security issues. China and the U.S. regulators, a move that would put the firms into conflict with secrecy laws in China. The issue, which has been fast-tracked since August, centers around the refusal from China to let U.S. auditing rules.
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China Pumps Up The ‘Panda Bond’ Market
Global Finance
JANUARY 22, 2023
With interest rates rising in the West, China hopes its falling interest rates will attract multinationals to its domestic bond market.
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Moody’s: Global growth forecasts slip with Russia-Ukraine war, China lockdowns
Future CFO
MAY 31, 2022
Global growth forecasts for 2022 and 2023 are lower as Russia's invasion of Ukraine and pandemic lockdowns in China add to supply shocks and stoke inflation, said Moody’s recently. The post Moody’s: Global growth forecasts slip with Russia-Ukraine war, China lockdowns appeared first on FutureCFO. Advanced economies will expand 2.6%
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Marriott appoints new CFO for APAC excluding China
Future CFO
AUGUST 22, 2023
Marriott International announced recently the appointment of Christina Chan as CFO, Asia Pacific (excluding China). More People Moves stories The post Marriott appoints new CFO for APAC excluding China appeared first on FutureCFO.
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Wall Street snubs China for India in a historic markets shift
CFO News
FEBRUARY 5, 2024
China, on the other hand, is grappling with chronic economic woes and a widening rift with the Western-led order. India, the world’s fastest-growing major economy, has vastly expanded infrastructure under Prime Minister Narendra Modi in his bid to lure global capital and supply lines away from Beijing.
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5G Network Rollout Delayed In China, Flights Canceled Due To Coronavirus
PYMNTS
FEBRUARY 21, 2020
We have the latest news on the economic impact of the coronavirus from airlines canceling flights to the delay of the rollout of next-generation 5G networks and merchants reopening stores in China. And, in brick-and-mortar news, Uniqlo operator Fast Retailing has reportedly reopened roughly 100 retail locations in China as of last week.
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Private equity market in Greater China: More buyouts expected
Future CFO
APRIL 20, 2023
The private equity market in Greater China could see transformational changes over the next five years as buyout deals are expected to outgrow other asset classes, said Bain & Company recently. Deal value in the private equity market in China Greater fell 53% to US$62 billion in 2022 compared to the previous year, the firm noted.
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US renews audit inspection of China firms: Report
CFO News
JULY 6, 2023
The inspection, part of an agreement signed last year, comes amid rising tensions between the United States and China, including U.S. consideration of export controls on artificial intelligence chips to China.
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China expands presence in West Asia's tech, mining, and energy amid strong ties with India
CFO News
MARCH 11, 2024
China is expanding its presence in the technology, mining, and energy sectors in West Asian nations with ties to India. It is partnering with telecom operators, investing in the mining sector, and offering assistance in space and transportation development.
Bank Of China Advises Country’s Banks To Avoid SWIFT Messaging
PYMNTS
JULY 29, 2020
and China heating to a boil, one of China’s top banks is urging financial institutions (FIs) to cut their use of the SWIFT financial messaging network for cross-border transactions. sanctions against China looming, state lenders there have reportedly been developing contingency plans. actions.
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Asia Pacific outlook stable except China: Moody’s
Future CFO
NOVEMBER 23, 2022
Meanwhile, nonfinancial companies in China will face tougher credit conditions in 2023 compared with 2022, given persisting domestic challenges while external risks intensify, the firm noted. Elevated inflation and aggressive interest rate hikes are slowing global growth, which will dampen trade activity in China Moody’s pointed out.
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Indian drug manufacturers benefit from Big Pharma interest beyond China
CFO News
NOVEMBER 26, 2023
China has for nearly 20 years been the preferred location for a range of pharmaceutical research and manufacturing services due to the low cost and speed offered by contract drugmakers there.
China's reopening will boost earnings but risks remain
Future CFO
MARCH 21, 2023
China's reopening will support companies' credit quality as it will ramp up their earnings with a rebound in domestic demand and economic activity, said Moody’s recently. However, China might still face challenges coming from other parts of the world. One of the issues is the global economic slowdown.
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Niti plan in works to lower reliance of India's supply chains on China
CFO News
OCTOBER 23, 2023
India is developing a plan to reduce its reliance on China for supply chains. The Niti Aayog is working on the strategy, which aims to address the trade deficit with China and secure supply chains from geopolitical risks. A consultancy firm will be engaged to review India-China trade and make recommendations.
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Data Shows China Slowdown Much Worse Than China Admits
PYMNTS
SEPTEMBER 9, 2019
Manufacturing is being hit really hard,” said Leland Miller, CEO of China Beige Book, which measures China’s economic strength. China on Friday (Sept. 6) flooded banks with billions of dollars after The People’s Bank of China lowered how much was required to be kept in reserve. . Germany, and Japan.
Apple Resumes Operation Of All China Retail Locations
PYMNTS
MARCH 13, 2020
After it was forced to shutter its retail locations in China because of the spread of COVID-19, Apple Inc. China is the third-largest market for the tech company. As previously reported, Apple initially closed its corporate offices as well as 42 retail locations in mainland China in the first week of February.
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People’s Bank Of China Making Progress Toward Digital Coin
PYMNTS
JANUARY 10, 2020
China’s central bank, the People’s Bank of China (PBOC), said it has completed the “top-level” design of its proposed digital currency, according to reports. In October , China’s congress passed a cryptography law to promote the development of crypto and to make sure cybersecurity measures were in place.
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China cuts key interest rate to support economy
CFO News
AUGUST 20, 2023
Monday's measures -- which run counter to rising interest rates around the world as other major economies work to curb inflation -- will indirectly support economic activity as China's growth flags.
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China's policy shifts to targeting recovery in domestic demand
Future CFO
MARCH 16, 2023
China’s policy, including its reopening and policy measures that refocus on growth rather than regulatory tightening, will likely drive a recovery of private consumption and stabilisation of the property market from a low base, said Moody’s recently.
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PayPal Closes On GoPay Acquisition, Enters China
PYMNTS
DECEMBER 19, 2019
At the end of last year American Express gained permission to bring its card clearing services to China. He said PayPal will be able to serve merchants who want to sell their offerings cross-border, but take payments back into China. PayPal will also serve multinational companies doing business in China.
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China's Digital Yuan Trial Sees Spending For Retail, Ridesharing And More
PYMNTS
DECEMBER 27, 2020
The second trial of digital yuan by the People's Bank of China has concluded, resulting in hundreds of thousands spent on eCommerce retail, food delivery and ride-sharing, The Wall Street Journal (WSJ) reports. The trial began earlier in the month as authorities handed out 20 million digital yuan, or $3.1
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Auto Sales In China Up For Fourth Month
PYMNTS
NOVEMBER 9, 2020
Sales of cars in China posted a big gain in October, offering a bright spot for the still recovering global auto sector, with electric vehicles leading the growth charge, The Wall Street Journal (WSJ) reported. million electric cars by the end of 2020, according to Bloomberg, which cited the China Association of Automobile Manufacturers.
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