In the wake of the global financial crisis, China saw an explosion not only in the level of debt in the economy, but also in the development of complex and opaque shadow banking structures. The…
FINANCE
China Minsheng Banking : Minsheng Bank 1Q net profit up 5.2% to Rmb14.94bn
5.23% year-on-year to Rmb14,942 million. Basic and diluted earnings per share were Rmb0.41. Operating income amounted to Rmb36,748 million, an increase of 1.36% from a year earlier. Net interest income amounted to Rmb15,741 million, a…
Oversea Chinese Banking : China Factory Activity Slows Slightly in April — Update
BEIJING–China’s factory activity slowed a tick in April due … an economist with Oversea-Chinese Banking Corp. “Chinese companies are having a much harder time this year than last year, as borrowing costs have risen a…
BRIEF-China Internet Nationwide Financial Says Independent Committee Completed Investigation Into Allegations In Muddy Waters Report
* CHINA INTERNET NATIONWIDE FINANCIAL-INVESTIGATION FOUND NO MATERIAL INCONSISTENCY BETWEEN GROSS REVENUE IN CO’S BOOKS & RECORDS & REVENUE REPORTED IN SEC REPORTS * CHINA INTERNET NATIONWIDE FINANCIAL – INVESTIGATION FOUND ACQUISITION OF BEIJING ……
Is Regulation Finally Taming Shadow Banking in China?
Having injected fresh energy into the curbing of shadow banking during last year’s final quarter, it seems that China is now finally seeing its efforts starting to pay off. The once-booming controversial financial sector, which…
BRIEF-China Development Financial Holding unit disposes stake in Qisda for T$3.43 bln
* Says its unit CDIB Capital Group disposes 149.5 million shares of Qisda Corp, at the average price of T$22.954 per share, for T$3.43 billion in total ( read original story …)
China’s Baidu to sell majority of financial services unit for $1.9 billion
(Reuters) – China’s Baidu Inc said it will sell a majority stake in its financial services business for about $1.9 billion to a consortium led by TPG Capital Management LP [TPG.UL] and Carlyle Group LP,…
China eases restrictions on foreign ownership of securities ventures
BEIJING (Reuters) – China’s securities regulator has released new guidelines for foreign investment in Chinese security joint ventures in which it eased some restrictions and launched an application process for more foreign ownership. The consultation…
Kazakh Finance Minister meets Chinese colleague in Beijing
BEIJING. KAZINFORM – Minister of Finance Bakhyt Sultanov paid a working visit to Beijing on the invitation of the Chinese side on April 27-28, Kazinform reports. During the negotiations with his Chinese colleague Liu Kun…
China will take steps to further open to foreign banks, insurers
China’s banking and insurance regulator announced Friday that it will take a series of actions to accelerate construction of legal and supplementary systems to further open the country’s banking and insurance sectors. The China Banking…
China Minsheng Banking : ANNOUNCEMENT CHANGES IN ACCOUNTING POLICIES
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim…
China’s central bank drains capital from market to balance liquidity
BEIJING – The People’s Bank of China (PBOC) drained liquidity from the financial system via open market operations this week after a reserve requirement ratio (RRR) cut injected hundreds of billions of yuan into the…
China’s central bank issues final asset management policy
The target of the new rules is to restrict banks from investing in high-risk and short-term funding vehicles, while preventing unexpected risks arising from tightening, especially for liquidity risk. [Photo/VCG] China’s central bank issued the…
