TAIPEI/BEIJING (Reuters) – Air China Ltd has indefinitely suspended flights between Beijing and Pyongyang, citing poor demand as North Korea faces growing sanctions from the United States over its nuclear weapons and missile programs. An…
FINANCE
Guaranteed repayment – the wild financial game no Chinese bank can afford to lose
China’s central bank is trying to smash the tacit rule of “guaranteed repayment” in the US$15 trillion asset management industry, but analysts say few financial institutions – especially banks – can afford to let their…
BRIEF-China Oceanwide International Financial says unit to buy senior notes for US$120 mln
Nov 22 (Reuters) – China Oceanwide International Financial Ltd: * Unit to purchase senior notes for US$120 million with coupon interest rate of 8.5 pct per annum Source text for Eikon: Further company coverage: Our…
China to step up financial regulation in property market: state TV
BEIJING (Reuters) – China will step up financial regulation and crack down on speculation in the property market to fend off bubble risks, state television CCTV reported on Tuesday. The remarks were made by regulators…
China’s Zhongtian Financial to buy up to $4.7 billion stake in Huaxia Life
SHANGHAI/BEIJING (Reuters) – China’s Zhongtian Financial Group Co (000540.SZ), which has businesses in the real estate and finance sectors, said it planned to buy up to 25 percent of Huaxia Life Insurance for as much…
China’s Zhongtian Financial says to buy up to $4.7 billion stake in Huaxia Life
SHANGHAI (Reuters) – China’s Zhongtian Financial Group Co Ltd (000540.SZ) said it planned to buy up to 25 percent of Huaxia Life Insurance for as much as 31.0 billion yuan ($4.7 billion). Under framework agreements,…
China Looks to the Dumb Money for Its Financial Industry
China is opening its financial firms to more foreign ownership. The opportunity might seem tempting. But developed-world buyers should beware — it’s possible that it’s a trap. On Nov. 10, Vice Finance Minister Zhu Guangyao…
China tightens bank shareholding rules after lifting cap on foreign stakes
“The new rules tighten regulatory over major shareholders and their related parties; it is also worth noting that they came out just one week after China announced the historic opening up in banking investment. Beijing…
China central bank says to continue prudent, neutral monetary policy
HONG KONG (Reuters) – China’s central bank said on late Friday that it will maintain a prudent and neutral monetary policy and keep liquidity conditions stable, as it seeks to fend off systemic risks in…
China’s own Dodd-Frank Act aims to tame wealth management sector as crackdown on risky financial activity gathers pace
China’s financial regulators have unveiled a major new regulation – which has been described as Beijing’s Dodd-Frank Act – to rein in shadow banking activities in their latest response to President Xi Jinping’s call to…
China sets sweeping new rules to regulate asset management products
BEIJING (Reuters) – China’s central bank on Friday issued sweeping guidelines to tighten rules on asset management business, the latest step by Beijing to fend off systemic risks in the country’s growing shadow banking sector.…
China Sets New Rules for $15 Trillion of Asset Management Products
China’s central bank on Friday issued sweeping guidelines to tighten rules on asset management business, the latest step by Beijing to fend off systemic risks in the country’s rampantly growing shadow banking sector. The guidelines…
China Will Keep ‘Prudent And Neutral’ Monetary Policy, PBOC Says
China’s central bank said that it will keep its “prudent and neutral” monetary policy, “closely” monitor liquidity and expectations, and deepen reforms in the interest-rates and currency market. The People’s Bank of China aims to…