China’s broadest measure of new credit exceeded estimates and loan growth picked up, signaling that the economy remains robust into the second quarter. Aggregate financing stood at 1.56 trillion yuan ($246 billion) in April, the…
FINANCE
China moves to strengthen financial ties to Japan in face of US trade war threat
China and Japan have moved to strengthen their financial ties with each other amid the looming threat of a trade war with the United States. The two countries have been working to improve relations despite…
Four banks to support Beijing rural land-for-rental housing plan
The commission said the four banks — Huaxia Bank and the Beijing branches of China Development Bank, Agricultural Bank of China and China Construction Bank — can grant loans for up to 80 percent of…
China Merchants Bank Faces Suit Over Racial Discrimination
China Merchants Bank Co. was accused of discriminating against African-Americans in a lawsuit filed on behalf of a former executive who claims she was fired for blowing the whistle on its conduct. The Shenzhen, China-based…
China’s financial opening: Will it be different this time?
President Xi Jinping, in his speech at the 17th Boao Forum, announced plans to further open China’s economy. One of the key highlights of these new measures is the opening of the financial sector to…
China collects trove of 3 trillion financial records in bid for tighter control of country’s banks
China has amassed a dizzying collection of 3 trillion banking records in its drive to exert effective regulatory control over the nation’s financial institutions in the digital age. The big data mountain – made up…
China to tighten rules on banks’ wealth management business – sources
BEIJING/SHANGHAI (Reuters) – China’s banking and insurance regulator will soon publish detailed rules on banks’ wealth management products (WMPs) as part of Beijing’s effort to curb risks in the financial sector, three sources familiar with…
Paulson Institute to support growth of green finance market
The Paulson Institute’s green finance center will support China’s development of a robust green finance market with market-based solutions. The center, led by Deborah Lehr, vice-chairman of the Chicago-based think tank and research institution, marks…
Big four banks raise first-home mortgage rates in Beijing
(ECNS) — The Beijing branches of China’s big four banks have raised the mortgage rates for first-time home buyers in the capital city. All four lenders—Industrial and Commercial Bank of China, China Construction Bank, Agricultural…
China Merchants Bank accused of US discrimination
A former senior banker at China Merchants Bank is suing her ex-employer and three of its top executives, claiming she was fired from the New York office after complaining about discriminatory lending practices. Xin Wang,…
China Merchants Bank Is Accused of Racial Discrimination in Suit
China Merchants Bank Co. was accused of discriminating against African-Americans in a lawsuit filed on behalf of a former executive who claims she was fired for blowing the whistle on its conduct. The Shenzhen, China-based…
China Plans New Risk-Management Rules for Financial-Services Firms
China is drafting new rules to rein in businesses offering multiple financial services after runaway growth in recent years has left regulators without a firm handle on their risks to the economy. Officials at the…
China’s New Systemic Risk Rules May Curb Giant Ant Financial
There’s no other company on Earth quite like Ant Financial. Spanning online payments, insurance, lending, credit scores, asset management and more, Jack Ma’s Chinese behemoth resembles a mashup of PayPal, Geico, Wells Fargo and Equifax…
