China Merchants Bank Co. said its President Tian Huiyu is stepping down after spending nearly nine years building the lender into the nation’s king of retail banking.Most Read from BloombergUkraine …
FINANCE
China’s central bank showing no sign of panic
A one-handed economist would scarcely know what to say about China’s latest gravity-defying gross domestic product (GDP) performance, one that’s …
China Merchants Bank relieves president Tian Huiyu of his job in surprise move after US$11 billion stock sell-off amid talk of unspecified probes
Tian was relieved of his job with immediate effect, China Merchants Bank said, adding that he would be assigned to another unspecified post Chief financial officer Wang Liang to step up as interim CEO …
China’s economy had a good first quarter. Lockdowns leave it ‘in distress’
China’s economy made a solid start to the year, recording first quarter growth that surpassed expectations. But a recent slump in consumer spending and rising unemployment suggest much tougher months …
Beijing Crackdown Derails Alibaba’s Bid for Amazon-Size Profit
Beijing’s crackdown on the private sector has laid waste to that strategy. Alibaba’s core e-commerce operation is under siege from regulators, and its finance arm has been forced to pull back from …
China Merchants Bank suffers US$11 billion sell-off on news report top executive is assisting unspecified probe
China’s third-largest lender fell by the most since August 2015 amid a local media report that a top executive is assisting with an unspecified government probe.
‘In distress’: COVID lockdowns pose growing threat to China’s economy
China’s economy made a solid start to the year, recording first quarter growth that surpassed expectations. But a recent slump in consumer spending and rising unemployment suggest much tougher months …
China makes progress in defusing financial risks in 2021: Report
On Saturday, a new report was released stating that China’s financial sector has demonstrated its resilience amid challenges posed by external impacts and COVID-19, and that financial risks were …
Former Chinese central bank chief says digital yuan is for retail transactions
Zhou Xiaochuan, the former governor of the People’s Bank of China, said in a speech on Saturday that the digital yuan is designed to focus on transactions for people and merchants and not to replace…
China turns focus on supply chains, pledging more financial aid
China is taking stronger measures to stabilise supply chains, pledging financial aid and possible exemptions to allow some businesses activity to resume, to help limit the damaging effect of Covid …
China stocks fall on COVID concerns, reserve ratio cut disappoints
Heightened global risks from the war in Ukraine, and the COVID lockdowns in China and a weak property market have roiled its financial markets, with authorities vowing to stabilise them and support …
Analysts see less room for China rate cuts after ‘conservative’ RRR cut
The smallness of a cut to the amount of money Chinese banks must hold in reserves may reflect concern by the Chinese central bank over inflation and U.S. monetary tightening, making further interest …
China stocks fall, unsupported by GDP, reserve-requirement cut
China stocks opened down on Monday, as market participants shrugged off a cut in the reserve requirement ratio that fell below their expectations, saying it might not be enough to reverse economic …
