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China takes aggressive steps to fend off banking, financial risks


BEIJING/SHANGHAI China took aggressive steps on Wednesday to head off signs of growing risks in its financial and banking system, unveiling detailed rules to curb an unruly peer-to-peer (P2P) lending sector and intervening in its money markets.


Philippines summons Chinese envoy over drug trafficking from China 12:44pm BST

MANILA The Philippines government said on Wednesday it had summoned the Chinese ambassador earlier this week to explain reports that traffickers were bringing in narcotics from China, opening a new front in President Rodrigo Duterte's controversial war on drugs.

China takes forceful steps to tame unruly peer-to-peer lending sector 11:55am BST

BEIJING China's banking regulator unveiled aggressive measures to restrain the country's fast expanding peer-to-peer (P2P) lending sector on Wednesday, warning that almost half of the 4,000-odd online lending platforms are "problematic".


Philippines says sea dispute not led to shift in ties with China or U.S 11:34am BST

MANILA The Philippines' territorial dispute with China over the South China Sea has not caused Manila to rebalance diplomatic ties with either its ally, the United States, or neighbouring China, Foreign Minister Perfecto Yasay said on Wednesday.


Taiwan vice president to visit Vatican as it eyes better China ties 10:28am BST

TAIPEI Taiwan's vice president will next month visit the Vatican, its sole diplomatic ally in Europe, on a trip that could anger China as the Holy See looks for rapprochement with the world's most populous country.


China denies restricting activities of U.N. rights envoy 10:00am BST

BEIJING China denied on Wednesday that the government had restricted the activities of a visiting United Nations-appointed human rights envoy.


Saudi prince to discuss reform drive in visits to China, Japan 8:59am BST

DUBAI Saudi Arabia's powerful Deputy Crown Prince Mohammed bin Salman will discuss the kingdom's drive to cut its reliance on oil exports in visits to China and Japan that begin next week, Saudi media and sources said on Wednesday.

Japan, China, South Korea to urge North Korea to stop provocation 8:01am BST

TOKYO Japan, China and South Korea agreed to urge North Korea to refrain from provocation and follow U.N. Security Council resolutions, after its latest missile launch towards Japan early on Wednesday.


China shows first images of Mars rover, aims for 2020 mission 6:03am BST

BEIJING China has showed off its first images of a rover it plans to sent to Mars in mid-2020, which is designed to explore the planet surface for three months, state media said, the latest aim of China's ambitious space programme.


As China e-commerce booms, private equity sees room for growth in storage space 4:41am BST

HONG KONG When U.S. private equity heavyweight Warburg Pincus started looking at China's logistics sector in late 2009, there were more modern warehouses in Boston than in the whole of the world's most populous country.