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 … (…
FINANCE
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 …)
Donald Trump’s national security adviser calls Beijing’s South China Sea claims ‘ridiculous’
US President Donald Trump’s national security adviser called Beijing’s claims in the South China Sea “ridiculous” and announced upcoming meetings with his counterparts in Japan, India and Australia to … ( read original story …)
Chinese Bank Disables Digital Yuan Wallet After Soft Launch Draws Wide Attention
China Construction Bank had quietly opened up the wallet service of China’s digital yuan to public users – but has now disabled it shortly after the feature gained wide attention. ( read original story …)
“Great Wall Heroes” Welcomes Future Visitors Back to Beijing with New 2020 Promotional Campaign
Visit Beijing Again” promotional event organized by Beijing Municipal Culture and Tourism Bureau was held at Fortress Square, Badaling Great Wall Scenic Area. This event was supported by Yanqing … ( read original story …)
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