Rejects S&P Credit Rating China’s Finance Ministry has criticized Standard & Poor’s downgrade of the country’s sovereign credit rating as “perplexing”. It said the downgrade focused on credit growth and debt, but ignored China’s distinctive…
FINANCE
South China Financial Holdings Ltd. (0619) Dips -1.85% on Sep 26
Shares of South China Financial Holdings Ltd. (HKG:0619) last traded at 0.053, representing a move of -1.85%, or -0.001 per share, on volume of 8.55 million shares. After opening the trading day at 0.05, shares…
CHINA STATE GROUPS ENJOY PROFIT REVIVAL AMID COMMODITY BOOM / THE FINANCIAL TIMES
China’s buoyant property market has fuelled the country’s unexpectedly … “The top leadership has made it clear that financial vulnerabilities and debt accumulation is the biggest risk. I think they are at the stage where…
China’s mobile banking market overview Q2 2017
Total transactions of China mobile banking clients totaled 55.63 trillion yuan (US$8.44 trillion) with an increase of 5.1% QoQ. China Construction Bank (26.1%) and Industrial and Commercial Bank of China (21%) combined account for close…
China busts secret bank in Guangzhou sending assets abroad
SHANGHAI: Chinese police have broken up a secret banking operation used to transfer assets abroad, the official China Daily reported on Tuesday. The underground bank, hidden in a food market in the southern city of…
China Banking Association says S&P’s ratings cut ‘simple, biased’
The S&P Global Ratings’ downgrade of China’s sovereign credit rating is a “simple, biased and unfair” decision that is against economic fundamentals and indicators, China Banking Association said Monday. The association said the rating downgrade…
Asian Development Bank boosts China’s economic forecast
The Asian Development Bank (ADB) raised its outlook for China’s economic growth this year on the back of strong domestic consumption, an export recovery and solid growth in services. ADB now expects China’s economy to…
China to further open up finance
China is poised to allow access to more foreign financial institutions to help the development of the domestic financial sector, as top policymakers are reportedly mulling new measures to push ahead with reform and opening-up…
Trudeau urges Canadian companies to seek fortune in China’s $5 trillion market
TORONTO — Prime Minister Justin Trudeau called on Canada’s small-and-medium sized businesses to embrace globalization and help deepen what he termed the “Canada-China friendship” by exploring the market potential of selling to its half-billion ……
Is China still keen to develop a sovereign digital currency after ban on bitcoin trading?
Financial News, the mouthpiece of the People’s Bank of China, published an opinion piece on last Tuesday saying Beijing should “accelerate the process of launching a sovereign digital currency after it curbed risks of encryptocurrencies”.…
China Construction Bank Partners IBM for Blockchain ‘Bancassurance’ Solution
China Construction Bank, the world’s second-largest bank by market capitalization, is working with IBM to develop and launch a blockchain-enabled bancassurance platform for its retail and commercial banking arm in Hong Kong. A ‘bancassurance ……
Calls for a freer yuan from inner circle of China’s central bank
China could be heading towards a free-floating currency after a group of economists – including officials from the central bank – suggested the time was ripe for such a move. The comments were made in…
China’s robot revolution may affect developing countries, says World Bank
China is rapidly replacing factory workers with machines and will likely have the highest number of industrial robots in the world by next year, according to a new World Bank report. The fast pace of…
