BEIJING (Reuters) – China’s central bank on Tuesday asked the European Union authorities to reconsider proposed rules that require foreign banks to set up parent holding companies for supervisory purposes, if they have assets of…
FINANCE
China Stocks Hit by Beijing’s Financial Clampdown
SHANGHAI—Chinese stocks had their worst week since 2016, with fresh concerns about Beijing’s campaign to cut financial risk and predictions of a slowing economy helping erase half of the market’s year-to-date gains in just a…
China Urges Crackdown on M&A Loans Used to Buy Land
Shanghai branch of CBRC is said to issue notice to banks Continues crackdown of flow of funds into risky real estate China’s banking regulator has told lenders in Shanghai to increase their scrutiny of loans…
IMF On China: A Downturn is Inevitable
provides a good summary of many of the key issues facing China’s economy. Rapid credit growth since the global financial crisis is record setting for both its total expansion and its duration. Credit is being…
China’s financial system dogged by a corrupt alliance of cats and rats, central bank discipline chief says
A corrupt alliance of “rats and cats” is to blame for the lack of order and heightened risk within China’s financial system, the newly appointed head of discipline at the country’s central bank said on…
“Working in Chinese finance was traumatic for me, but more Singaporeans should do it”
But now he wants more to work there. https://news.efinancialcareers.com/uk-en/305691/chinese-vs-western-banks/ Singaporean finance professional Matt Huang spent seven turbulent years in Beijing trying to navigate China’s bewildering business environment. ( read original story …)
China Vanke Names Financial Veteran as President, CEO
Real-estate heavyweight China Vanke on Wednesday appointed financial veteran Zhu Jiusheng as its chief executive officer and president, the right hand of company Chairman Yu Liang. The appointment of Zhu was unanimously approved by Vanke’s…
Bitcoin ads disappear from social media in China after central bank bans cryptocurrency fundraising
China’s major social media networks and search engines don … to prevent advertisers from marketing “financial products and services frequently associated with misleading or deceptive promotional practices”. The move shines a spotlight on the ……
World’s Biggest Bank Comes to Greece
The world’s biggest bank, the Industrial and Commercial Bank of China (ICBC), is coming to Greece, being the second Beijing bank with interests here after the China Development Bank. ICBC, with €3.2 trillion ($3.9 trillion)…
China Internet Nationwide Financial Services Inc. Signs System Development and Consulting Agreement for the Convey Project
BEIJING, Jan. 31, 2018 /PRNewswire/ — China Internet Nationwide Financial Services Inc. (CIFS) (“CIFS” or the “Company”), a leading financial advisory services company, today announced that Beijing Anytrust Science & Technology Co., Ltd. (“Anytrust”), a…
BRIEF-China Internet Nationwide Financial Services Signs System Development Agreement For Convey Project
Jan 31 (Reuters) – China Internet Nationwide Financial Services Inc: * CHINA INTERNET NATIONWIDE FINANCIAL SERVICES INC. SIGNS SYSTEM DEVELOPMENT AND CONSULTING AGREEMENT FOR THE CONVEY PROJECT * CHINA INTERNET NATIONWIDE FINANCIAL SERVICES SAYS UNIT…
China online banking transactions dropped to RMB 482 trillion in Q3 2017
According to recently published report by Analysys, “China Online Banking Quarterly Forecast Report for 2017 Q3”, the total online banking transactions amounted to 48.15 billion, reflecting a 4.3% decrease when compared to the same quarter…
China faces far worse financial risk than US before global crisis: former FM
China’s financial system was facing higher risk than that of the US before the global economic turmoil a decade ago, former finance minister Lou Jiwei has said. China’s financial system had become “severely distorted”, Lou…
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