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…
FINANCE
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 …)
The world’s money transfer system is China’s Achilles heel in its sanctions battle against the US
Hong Kong and Chinese officials have responded to US sanctions with scorn, but they are far more exposed than they let on. ( read original story …)
China Success Finance Announces 2020 Interim Results
The Board did not recommend to distribute an interim dividend for 2020. Mr. Zhang Tiewei, Chairman and Executive Director of China Success Finance indicated, “In the first half of the year, COVID-19 … ( read…
Is China’s ‘new’ strategy of economic self-reliance just a rehashing of an old idea? This long-time China watcher thinks so
China’s ‘dual-circulation’ strategy to boost consumption and reduce reliance on overseas markets dates back to the late 2000s, says veteran China observer Michael Pettis. ( read original story …)
ADVERTISEMENT
