China | Certain Risk

A photo of one of the lion statues standing at the exterior of HSBC's headquarters in Hong Kong. — “Hong Kong” by Robin Hickmott, via Wikimedia Commons, licensed under CC BY-SA 2.0. Modified from the original.

HSBC and Standard Chartered Get Their Hong Kong Stablecoin Licenses

Hong Kong has granted its first licenses for fiat-backed stablecoins to HSBC and a Standard Chartered-led joint venture, marking a significant step in the city’s effort to build a regulated market for virtual currencies used in finance and trade.

Neighborhoods in the vicinity of the Nanjing Oil Refinery and the Tomb of Xiao Rong — “Edited from ‘Nanjing Oil Refinery Neighborhood - P1200120.JPG’ by Vmenkov, via Wikimedia Commons, licensed under CC BY-SA 3.0. Changes were made.”

China Turned to Small Banks, ‘Teapot’ Refineries to Dodge Iran Sanctions

China has helped Iran blunt the impact of U.S. sanctions over the past five years by buying the bulk of its oil exports and supporting a complex financial and shipping network that has allowed Tehran to keep earning billions of dollars in revenue.

Rio de Janeiro, Brasil- 18 de Novembro de 2024- G20 Summit- Cyril Ramaphosa, Presidente da China Xi Jinping no segundo dia do G20 Summit Foto: Alex Ferro/G20 Rio de Janeiro, Brazil- November 18, 2024- G20 Summit- Cyril Ramaphosa, President of China Xi Jinping on the second day of the G20 Summit Photo: Alex Ferro/G20 WWW.ALEXFERRO.COM.BR — “01.01.2023 – Presidente da República, Luiz Inácio Lula da Silva, durante posse do Vice-presidente, Geraldo Alckmin como Ministro de Estado do Desenvolvimento, Indústria, Comércio e Serviços” — photo by Ricardo Stuckert/PR, via Flickr (Palácio do Planalto), licensed under CC BY 2.0. https://www.flickr.com/photos/palaciodoplanalto/54430348339/

China to Introduce Law Targeting Cross-Border Corruption

China said Monday it plans to enact a new law this year aimed at combating cross-border corruption, marking another stage in Beijing’s long-running anti-graft campaign.