China’s biggest banks suffered their worst profit decline in more than a decade as a cascade of loans to businesses across China are going bad.Reporting their first-half earnings on Sunday, Industrial … ( read original…
FINANCE
TikTok Sale May Need Beijing’s OK: Report
The U.S. companies looking to snap up TikTok may have another time bomb to worry about: new Chinese regulations. That’s because Beijing has written new rules on technology exports that could mean … ( read…
China Construction Bank posts worst earnings in more than a decade on bad loan surge
The world’s second-largest lender by assets produces its worst half-year earnings in more than a decade amid a surge in non-performing loans as the coronavirus pandemic ravages businesses. ( read original story …)
Bad Debt Wave Drags China’s Big Banks to Their Worst Profit Drop
China’s biggest banks posted their worst profit declines in more than a decade as bad debt ballooned and the government called on them to help backstop the slumping economy, putting pressure on plans … (…
China’s top bank ICBC posts 11.4% fall in first-half profit, worst since 2006
Industrial and Commercial Bank of China (ICBC),, the world’s largest commercial lender by assets, said its net profit fell 11.4% in the first half, the biggest drop in the January-June profit since … ( read…
Bank of China first-half profit falls 11.5%, steepest H1 fall since market debut
Bank of China Ltd (BoC) , the country’s fourth-biggest lender by assets, on Sunday posted an 11.5% fall in first-half net profit, the steepest drop for the January-June period since its market debut. ( read…
UPDATE 1-China Construction Bank posts 10.7% profit fall, biggest since 2005
China Construction Bank Corp (CCB) , the country’s second-largest lender by assets, on Sunday posted a 10.7% fall in first-half profit, the biggest January-June decline since its market debut in 2005. ( read original story…
China Construction Bank Profit Drops 11% on Bad Loan Surge
China Construction Bank Corp., the world’s second-largest lender by assets, reported its worst earnings in more than a decade as a cascade of loans to businesses across China are going bad.Net income … ( read…
China’s Big Banks Post Worst Profit Slump on Bad Debt Wave
China’s biggest banks are suffering their worst profit decline in more than a decade as a cascade of loans to businesses across China are going bad. Reporting their first-half earnings on Sunday, … ( read…
China Construction Bank posts 10.7% H1 profit fall
BEIJING/SHANGHAI, Aug 30 (Reuters) – China Construction Bank Corp (CCB) , the country’s second-largest lender by assets, posted on Sunday a 10.7% fall in first-half profit, the biggest profit decline … ( read original story…
China Oil Refining Giant Bleeds After Covid Saps Fuel Demand
(Bloomberg) — Sinopec posted its first-ever loss over a half-year as pandemic lockdowns and the oil price crash continue to weigh on oil giant earnings even as the country’s economy recovers.The net … ( read…
China residential property sector a ‘slow growth market’ now, as sales and profits decline, Beijing steps up cooling measures
It is tough being a residential property developer in mainland China at the moment. Profits and sales have largely diminished, and only the government’s cooling measures seem to lie ahead for the 16 … (…
LexinFintech Wins The Asian Banker Award for Best AI and Innovation Lab in China
(GLOBE NEWSWIRE) — LexinFintech Holdings Ltd. (“Lexin”) (NASDAQ: LX), a leading online consumption and consumer finance platform for educated young professionals in China … ( read original story …)
