Credit Suisse Group AG plans to double its headcount in China over five years as the firm accelerates its pursuit of the nation’s wealthy, seeking to move past a scandal that’s engulfed once-favored … (…
FINANCE
China’s Yuan Strengthens as Trade and Economic Concerns Fade
China’s yuan has rallied to its strongest levels in more than a year, as the country’s economy continues to recover and investors grow less concerned about fresh U.S. tariffs. ( read original story …)
Pintec wins ‘Best Consumer Finance Product in China’ award from The Asian Banker
PRNewswire/ — Pintec Technology Holdings Ltd. (‘Pintec’; NASDAQ: PT), a leading independent fintech solutions provider, … ( read original story …)
China’s mega banks lost billions of dollars in profit as bad loans rise during coronavirus pandemic
The five largest Chinese banks posted at least 10% year-on-year fall in profits in the first half of 2020 as they set aside more funds for potential loan losses in the coming months. ( read…
Impairments hit China Construction Bank profit
China Construction Bank Corp.’s first-half net profit fell 11% compared with the same period a year earlier as impairment losses surged amid the … ( read original story …)
Bad Debt Wave Drags China’s Big Banks to Worst Profit Drop
China’s biggest banks posted their worst profit declines in more than a decade, putting pressure on their dividend plans, as bad debt ballooned and the government drew them into efforts to backstop a … (…
China’s Slower Factory Growth Eclipsed by Robust Services in Boost to Economic Recovery
China’s factory activity grew at a slower pace in August as floods across southwestern China disrupts production, but the services sector expanded at a solid rate in a boost to the economy as it ……
China’s Mega Banks Post Worst Profit Slump on Bad Debt Wave
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…
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…
