But China’s national oil companies still have plenty of ground to cover before they even approximate the level of success America’s shale pioneers have achieved, reports energy research firm Wood Mackenzie. Over the last decade,…
FINANCE
More China bank reserve cuts on the cards as PBOC seeks to prevent slowdown
BEIJING (Reuters) – The unexpected decision by China’s central bank to cut the amount of cash that lenders must keep in reserves is unlikely to be its last such move given the growing concerns about…
Senior bank regulatory official to be named China Huarong chairman: sources
BEIJING (Reuters) – A senior official at China’s banking regulator is set to be named chairman of China Huarong Asset Management Co Ltd (2799.HK), replacing the former head who is under investigation for alleged corruption,…
HK stocks end higher as China’s RRR cut aids financial shares
April 18 (Reuters) – Hong Kong stocks rose on Wednesday, breaking a four-day losing streak, as China’s surprise cut in banks’ reserve requirement ratios buoyed financial shares. ** The Hang Seng index rose 0.7 percent,…
Asian development bank will help lure infrastructure cash to Canada: president
The Beijing-based multilateral development bank will bring a number of economic benefits to Canada and lift the international profile of the Trudeau government’s own $35-billion infrastructure bank among investors, Jin Liqun said in an interview.…
China central bank cuts reserve requirement by 100 bps for most banks
China’s central bank said on Tuesday it will cut the amount of cash most commercial and foreign banks must hold as reserves to pay back loans obtained via its medium term lending facility. The move…
Central bank moves to cut lenders’ funding costs
China’s central bank announced a cut in some financial institutions’ reserved cash amount by 1 percentage point from April 25 to support small and micro enterprises and stabilize liquidity in the banking system, according to…
China stocks open higher after surprise RRR cut
SHANGHAI, April 18 (Reuters) – China stocks opened about 1 percent higher, led by the financial sector, after the central bank said it would cut banks’ reserve requirements in a surprise move seen as supporting…
China cuts deposit reserve rate for first time in 26 months to unleash cash
China’s central bank announced on Tuesday that it would cut the amount of cash that most banks are required to hold in reserve – the first reduction since February 2016 – to release cash into…
China to Release $200 Billion for Banks With Cut in Reserve Requirement
BEIJING—China’s central bank said it would free up more than $200 billion for banks to lend and repay short-term loans, signaling fresh worries about slowing momentum for economic growth amid rising trade tensions with the…
China central bank announces surprise cut in bank reserve requirements
China’s central bank said on Tuesday it will cut the amount of cash most commercial and foreign banks must hold as reserves to pay back loans obtained via its medium term lending facility. The move…
UPDATE 1-China c.bank announces surprise cut in bank reserve requirements
BEIJING, April 17 (Reuters) – China’s central bank said on Tuesday it will cut the amount of cash most commercial and foreign banks must hold as reserves to pay back loans obtained via its medium…
Online consumers in Asia buy three times more banking products than less tech-savvy peers, says McKinsey
The figure for mainland China more than tripled to 60 per cent in the same period. McKinsey’s study also found that in developed Asian markets, internet banking penetration rose to 97 per cent in 2017,…
