has tapped investment bank Goldman Sachs to list Pactera, the Beijing-based IT outsourcing firm it bought from private equity firm Blackstone, sources familiar with the matter said. The mandate for the U.S. initial public offering…
FINANCE
Marking the 20th Anniversary of the Asian Financial Crisis
David worked as an economist at the World Bank for 20 years, focusing on a variety of Asian economies. He also served as the U.S. Treasury’s economic and financial emissary to China, based in Beijing.…
Bank of China Ltd.
The company was founded on February 5, 1912 and is headquartered in Beijing, China. Bank of China was founded in 1912 as the central bank of the Republic of China by order of Sun Yat-sen,…
China Finance Online Co. Limite (NASDAQ:JRJC) Sees Light Trading Volume with 5,104 Shares Changing Hands
Trading was light with 5,104 shares changing hands in the last trading session. Volume was down 86.48% under the stocks average daily volume. Traders are feeling more bearish on shares of the company lately if…
China banking sector assets up 11.4 pct y/y at end-June
BEIJING, July 25 (Reuters) – The value of assets held by China’s banking sector rose 11.4 percent to 236.54 trillion yuan ($35.04 trillion) as of end-June compared with a year earlier, the China Banking Regulatory…
China’s Politburo pledges to prevent ‘systemic’ financial risks: Xinhua
BEIJING (Reuters) – China’s Politburo, the Communist Party’s top decision-making body, said Beijing will implement a “proactive” fiscal policy and “prudent” monetary policy in the second half of the year, the official Xinhua news agency…
Deregulation creates China consumer loans boom
Since regulators opened up the consumer finance market three years ago, lenders have deployed hundreds of thousands of salespeople to cash registers and even car parks across China to hand out on-the-spot loans for phones,…
In China, Herd of ‘Gray Rhinos’ Threatens Economy
SHANGHAI — Let the West worry about so-called black swans, rare and unexpected events that can upset financial markets. China is more concerned about “gray rhinos” — large and visible problems in the economy that…
Lenders battle for China’s $500bn consumer finance market Deregulation creates China consumer loans boom
At a Samsung smartphone shop in a mall in Shanghai, 31-year-old Lin Wenjie is considering which phone to buy when a saleswoman approaches him with a suggestion. The saleswoman, who works for consumer lending company…
Beijing watches out for ‘grey rhino’ and ‘black swan’ in the jungle of financial risks
Beijing is on guard against threats from a veritable jungle of financial risks – from the unpredictable “black swan” to the predictable “grey rhino”, the People’s Daily said in an editorial. The terms slipped into…
China Construction Bank gets nod for debt-for-equity swap subsidiary
BEIJING (Reuters) – China Construction Bank Corp (CCB), the country’s second-largest commercial lender, said on Friday it has received regulatory approval to set up a subsidiary to conduct market-driven debt-for-equity swaps. CCB was the first…
China announces goal of AI leadership by 2030
BEIJING — China’s government has announced a goal of making the … Baidu Inc. and Alibaba Group are spending heavily to develop artificial intelligence for finance, self-driving cars and other applications. Manufacturers also are installing…
U.S. bank card companies to seek licenses to operate in China in months
U.S.-based payment card companies, including American Express, MasterCard and Visa, are preparing to submit licence requests to operate in China within months, according to three people with direct knowledge of the matter. The long wait…
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