Chinese state-owned asset manager China Huarong Asset Management sought on Monday to turn the page on a $16 billion annual loss, as its chairman said it was in talks with potential new strategic …
FINANCE
The week in review: China’s internet regulator joins tech crackdown
This round-up focuses on new stricter rules for the technology sector by the Cyberspace Administration of China …
Twenty-nine Fortune Global 500 banking institutions and enterprises to attend China’s services trade fair 2021 CIFTIS
A total of 143 Chinese and foreign financial institutions, including 29 leading banking institutions and renowned financial service providers on the Fortune Global 500 list, will participate in the …
China cracks down on illegal online financial information accounts to ensure market stability
China is intensifying a crackdown campaign on problematic online social media accounts that illegally publish financial information and engage in fraud and other illegal activities, as authorities in …
China’s Huarong posts $24.5 mln first-half profit after annual loss
Huarong is one of the four state distressed debt managers and counts China’s finance ministry as its biggest shareholder. It had warned investors of a massive $16 billion in annual losses on Aug. 18, …
China Curbs Steel Output, but Familiar Economic Pressures Test Its Mettle
China’s production of crude steel, half the world’s annual total, fell in July by the widest year-on-year margin since the 2008 global financial crisis. Early indicators suggest it might slip again …
Industrial Bank records 23.08 pct rise in net profits for H1
Industrial Bank Co Ltd one of the first batch of joint-stock commercial banks on the Chinese mainland saw its net profits up 2 …
Hong Kong finance chief says fresh strategies needed to cash in on China’s latest 5-year plan, with bond market first in line
Hong Kong needs fresh strategies in everything from asset management to renminbi promotion if it hopes to take advantage of the opportunities offered by Beijing’s latest five-year plan, the city’s …
The luxury industry lost US$70 billion dollars after China want to equally distribute wealth
China saw sales of luxury rise 48 percent to about 54 billion dollars. Now, China said it wants to adjust excessive incomes and see its national wealth more equally distributed. China currently has …
Chinese Social Media Platforms to ‘Rectify’ Financial Self-Media Accounts
China’s top social media platforms, Wechat, Douyin, Sina Weibo and Kuaishou, said on Saturday they would begin to rectify irregular practices of “self-media” accounts that publish financial …
Postal Savings Bank of China records record net profit in H1
Postal Savings Bank of China Co recorded a net profit of 41.24 billion yuan ($6.37 billion) in the first half of this year, representing an increase of 22.48 percent year-on-year. During the period, …
Here’s what Wall Street expects from Bank of China’s earnings report
Bank of China will release figures for the most recent quarter. Analysts on Wall Street predict Bank of China will release earnings per share of CNY 0.200. Go here t …
Former Chinese finance minister Jin Renqing dies after fire at home: report
Former Chinese finance minister Jin Renqing died after a fire broke out in his home in western Beijing on Friday night, according to Chinese media reports. He was 77. State broadcaster CCTV reported …
