(Beijing) — To achieve financial inclusion in China, a competitive and sustainable microloan market is more important than simply offering loans at lower rates or to provide lending to borrowers shunned by banks, the head…
FINANCE
Hong Kong ‘falling behind’ in race to build up automated financial adviser platforms
Operators of automated, algorithm-driven financial planning services, or so-called robo-advisers, in Hong Kong need to significantly step up their game if they are to compete with Chinese and US institutions, according to Freeman Tsang, head…
AviaAM Financial Leasing China Concludes $500 Million Aeroflot Project
AviaAM Leasing announced that its joint venture with the Henan Civil Aviation Development and Investment Company (HNCA) – AviaAM Financial Leasing China – has brought a $500 million-worth aircraft delivery project to a conclusion. Eight…
As China Piles on Debt, Consumers Seek a Piece of the Action
Now, it’s Li Jing’s turn. Ms. Li, a 33-year-old car saleswoman here in the middle of China’s declining industrial zone, is one of the growing millions of Chinese using mortgages and credit cards to finance…
Fitch Ratings is expecting China’s first local government bond defaults, but timing uncertain
There are concerns about the potential for a wave of defaults in China due to high local government debt, which could impact the financial markets and potentially spread a wave of contagion across the global…
China to more closely oversee state firm finance units, sources say
China will create a centralised financing company to oversee billions worth of dollars in funds held by the country’s state-owned enterprises’ finance units, people familiar with the matter said, allowing the government closer supervision of…
China Development Bank Financial Leasing and Unit to Buy Aircraft From Airbus and Boeing
HONG KONG–China Development Bank Financial Leasing Co. Ltd. (>> China Development Bank Fnacl Lsng Co Ltd) said late Friday that it together with its unit in Ireland CDB Aviation Lease Finance DAC, have signed agreements…
Financial market reform crucial to China’s economy
China is expected to further open up its financial market as part of a strategy to expand its economy in the coming years, according to Harvey Schwartz, president and co-chief operating officer of Goldman Sachs…
China’s Leshi Internet plans to buy finance business from affiliate for 3 billion yuan
(Reuters) – The main listed unit of Chinese technology conglomerate LeEco said on Sunday that it plans to buy investment and financial service assets from an affiliate for up to 3 billion yuan ($455.24 million)…
London can play key role in Beijing’s new ‘silk road’, says Bank of China executive
A Bank of China executive has backed the City of London to help manage the risk posed by Beijing’s mammoth infrastructure programme, the belt and road initiative. Sun Yu, general manager of the bank’s London…
Beijing effort and inflation push China debt load down
The International Monetary Fund warned in August that Beijing’s reluctance to rein in borrowing … warned that such a rapid build-up in borrowing has historically ended in financial crisis. Zhu Haibin, chief China economist at…
S&P’s China downgrade may deter forex liberalisation plans
The decision by prominent US financial agency S&P Global Ratings to downgrade China’s sovereign rating is likely to deter some financial liberalisation plans under consideration in Beijing, particularly as the decision was made at a…
The next financial crisis is coming, I just don’t know when
“The Next Financial Crisis”. It lays out numerous possible triggers – a recession; a clumsy central bank unwind; deflation; an asset market crash; a collapse in market liquidity. Triggers could come from Italy, China, Japan…
