Founder of China’s Evergrande Pleads Guilty to Fraud and Embezzlement
Hui Ka Yan, the founder of embattled Chinese property developer Evergrande, pleaded guilty this week to multiple charges including embezzlement of assets and corporate bribery, in a major milestone in the unraveling of one of China’s biggest corporate collapses.
How Iran Transformed Its Economy with Barter Deals and China’s Help
Iran has built a more complex trade system under years of Western sanctions, relying increasingly on China, barter arrangements, and covert financing channels that help it keep goods moving even as formal restrictions target its oil exports, banking access, and foreign trade.
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.
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.
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.