The private banking industry globally is struggling in the face of tougher … LGT A further problem for private banks in China is that there are insufficient assets in Hong Kong and Singapore, where the…
Monthly Archives For December 2016
China’s central bank extends massive loans to financial firms
China’s central bank extended hundreds of billions of yuan in emergency loans to financial firms on Friday and ordered some of the country’s biggest lenders to extend credit as well, as it moved to ease…
As yuan weakens, Chinese rush to open foreign currency accounts
Industrial and Commercial Bank of China (ICBC) on its website offers preferential exchange rates for dollar-to-yuan transactions. “We’re not seeing capital flight or lack of confidence in the local currency,” said Raymond Yeung, chief economist…
Public-private partnership financing yet to take off in China
JPMorgan said it prefers the approach taken by Postal Saving Bank of China. The lender increased its infrastructure exposure by purchasing the special bonds issued by policy banks and reduced direct exposure. That said PPP…
China Automatic Teller Machine (ATM) Industry Report, 2016-2020
Currently, major banks in China have begun to deploy this kind of equipment, with Bank of Communications, for example, having deployed 489 VTMs as of the end of June 2015. From the perspective of competitive…
Bank of China : Fonterra in pact for $200m multi currency facility with Bank of China
New Zealands Fonterra, a leading global diary supplier and Bank of China has entered into an agreement to form a NZ$300 million ($200 million) multi currency bank facility, according to the announcement by Fonterra. The…
'Let them keep it': Trump says U.S. doesn't want China to return drone 'they stole'
He said the drone costs about $150,000 US and is largely commercial, off-the-shelf technology. Trump blasted China for, as he described it, ripping the research drone out of the water. The USNS Bowditch, which is…
China will transfer seized US drone in 'appropriate' way
The Pentagon said China will return a US Navy underwater drone after its military scooped up the submersible in the South China Sea late this week and sparked a row that drew in President-elect Donald…
Heralding social, financial change, China aims blow at iron rice bowl
PINGDINGSHAN, China (Reuters) – China has ordered state firms to smash the decades-old system of providing cradle-to-grave welfare support, known as the country’s “iron rice bowl”. But the order, part of a plan to reduce…
China restricts cars, factories amid 5-day smog red alert
China’s capital and other northern cities have banned half of all vehicles from city streets and ordered factories, schools and construction sites closed in response to a five-day smog red alert. The emergency steps enacted…
China says it's 'appropriately handling' seized U.S. underwater drone
BEIJING — China said Saturday its military seized a U.S. Navy unmanned underwater glider in the South China Sea to ensure the “safe navigation of passing ships,” but would give back the drone after determining…
China says it's 'appropriately handling' U.S. Navy drone issue
“China is resolutely opposed to this and requests the U.S. stop … media for bad spelling in a tweet in which he accused CNN of reporting “rediculous” fake news. Hours later, he put out a…
China, U.S. should avoid damaging trade war: Chinese vice finance minister
BEIJING China hopes there won’t be a trade war with the United States, but it will take “appropriate steps” to cope with that possibility, a Chinese vice finance minister said on Saturday. Zhu Guangyao, addressing…
