Shanghai V&J TRD

Kevin Warsh’s confirmation as the next chair of the United States Federal Reserve has fuelled debate over whether potential policy compromises with the administration of US President Donald Trump could undermine American financial credibility and inadvertently strengthen Chinese assets. The Senate confirmed Warsh as the 17th chair of the Fed on Wednesday in a 54-45 vote, mostly along bipartisan lines. He succeeds Jerome Powell, whose term expires on Friday, following a sustained pressure...

China’s April lending data points to persistently weak borrowing demand among households and businesses, despite a relatively loose monetary policy and strong industrial activity and profits. Banks extended a total of 8.59 trillion yuan (US$1.26 trillion) in new yuan loans in the first four months of this year, with lending barely rising in April, according to data released by the People’s Bank of China (PBOC) on Thursday. The rare monthly fall in April – only the second in the past decade –...

“Large Boeing orders” are expected as part of US President Donald Trump’s state visit to Beijing, Treasury Secretary Scott Bessent said on Thursday, adding that China and the US would discuss establishing a joint “board of trade” to manage commercial ties. When asked about the potential for deals in what have come to be known as the “three Bs” ­– Chinese purchases of beans, beef and Boeing aircraft ­– Bessent told CNBC: “I think we’re going to see the large Boeing orders.” The agreement, if...