China: Shadow banking probe, and cuts to Taiwan communication

25 June 2016, 22:38
Sherif Hasan
0
41

A post that isn't about Brexit, so I know it'll be read by no one. I can put in rude pics and everything and they'll be none the wiser!

Some China weekend news:
  • The People's Bank of China is going to probe shadow banking activities of Alibaba
  • Alibaba is an online 'finance giant', China's biggest internet payment service
  • 450m users (Bloomberg)
If the probe increases financial stability in China it's a positive

Also,
  • China has halted a communications channel with Taiwan
  • Says its because the island's government has refused to affirm the "one-China" principle
  • China's Taiwan Affairs Office says "Because the Taiwan side has not acknowledged the 1992 consensus, this joint political basis for showing the one China principle, the cross Taiwan Strait contact and communication mechanism has already stopped" (Reuters)
There is always an underlying level of tension in China / Taiwan relations, lets see if this escalates matters. Maybe we could have a Taiwexit referendum? :-D
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