Growing numbers of China's rich want to avoid publicising their wealth, Forbes said, reflecting fears of official scrutiny amid a vast and growing rich-poor divide after several billionaires have ended up in jail.
Most of China's banks will meet or surpass the new liquidity requirements under the Basel III agreement that's aimed at averting future crises, said Liu Chunhang, director general of the research and statistics departments at the China Banking R
Australian banks will need to meet new global capital rules ahead of the internationally agreed timetable under proposals made today, although the move is unlikely to force any of them to raise any new equity immediately.
Banks from emerging markets have resisted criticising a capital surcharge on worldwide banks, in contrast to peers in Europe and North America, in a key Basel consultation.
Sheppard, Mullin, Richter & Hampton has opened in Beijing with the hire of a partner from Squire, Sanders & Dempsey, writes The Recorder.