WASHINGTON - Top US bankers came under pressure from lawmakers on Wednesday to take a tougher stance on doing business with China amid growing tensions between Washington and Beijing over Taiwan andDuring a hearing before the US House Financial Services Committee, Republican congressman Blaine Luetkemeyer pressed bank chief executives on how they would respond in the hypothetical event of a Chinese invasion of Taiwan.
JPMorgan & Chase CEO Jamie Dimon and Citigroup CEO Jane Fraser both concurred, saying their banks would follow government guidance if China were to invade Taiwan. JPMorgan, which has been in China since 1921, serves Chinese and international corporations, financial institutions and government agencies. Last year it became the first foreign firm to fully own a securities venture in China.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rate hikes, Ukraine war, China woes dim Asia growth outlook - ADBMANILA : The Asian Development Bank (ADB) on Wednesday cut its growth forecasts for developing Asia for 2022 and 2023 amid mounting risks from increased central bank monetary tightening, the fallout from the war in Ukraine and COVID-19 lockdowns in China.The ADB now expects the area's combined economy, wh
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
UK's Truss, Japan's Kishida to work on countering ChinaTruss and Kishida agreed on the importance of democracies working together, said a UK statement. Read more at straitstimes.com.
Source: STForeignDesk - 🏆 4. / 71 Read more »
Investors pour money into China ETFs as markets drop - reportBEIJING : China's equity exchange-traded funds (ETFs) posted a net inflow of roughly 33 billion yuan ($4.68 billion) over the past month, signs of bargain hunting in a bearish market, the official Securities Times reported on Thursday.Investors poured money into mainly blue-chip ETFs such as ChinaAMC Chi
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
US agency adds China Unicom, Pacific Networks to national security threat list:The U.S. Federal Communications Commission (FCC) named Chinese telecom companies Pacific Networks Corp, its wholly-owned subsidiary ComNet (USA) LLC and China Unicom (Americas) as threats to U.S. national security, the regulator said Tuesday. The designations are under a 2019 law aimed at protecting U.S. co
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »