Xi said that China has contributed to 40 percent of global growth since the global financial crisis. China’s economy is now cooling as it seeks to rebalance growth away from exports to more domestic sources…
FINANCE
China Banking : Bank 'on track' to hit P6.4-B FY profit target
Nov. 19–CHINA Banking Corp., the listed affiliate bank of the SM Group, is confident it will reach its full-year profit target of P6.4 billion on the back of its robust loan business and the contribution…
Banks use technology to fight rivals
A booth showcases the Industrial and Commercial Bank of China’s internet finance products at a Beijing expo. [Photo provided to China Daily] Facing intense competition from internet finance companies, commercial banks in China are adapting…
Synthetic Gold Leasing: More Details Regarding The “Precious Metals” On Chinese Commercial Bank Balance Sheets.
Gold stored in Shanghai Gold Exchange (SGE) designated vaults owned by commercial banks does not to appear on the custodial bank’s balance sheet. More confirmation some gold on the balance sheets is stored outside China.…
Common for foreign banks in China to hire princelings: Reports
From 2006 to 2008, the bank hired Ms Wen’s consulting firm, Fullmark Consultants, to promote its standing in China. Her firm was paid a total of US$1.8 million for two years of service. The average…
Serbia's central bank approves opening of Bank of China branch
BELGRADE Nov 18 Serbia’s central bank has given preliminary approval for Bank of China Ltd to open a branch in the Balkan country, the first time a major Chinese bank will have done so. “As…
In China’s ‘richest village’, every resident has ‘£100K in the bank’
What used to be a farming community back in the 1950s, Huaxi, a village situated in the east of the city centre of Jiangyin, in Jiangsu Province, has reportedly been transformed into a thriving Communist…
‘Made in China’ exhibition will offer opportunities for Qatar in China: Doha Bank
Optimistic on enhanced strategic relationship between Qatar and China, Doha Bank has said the recently held ‘Made in China’ exhibition will offer an opportunity for Doha to tap into the Asian country’s technological advancements. The…
JPMorgan hired kids of China's elite to win business, U.S. charges
Regulators slapped JPMorgan (JPM) with $264 million in fines and said the bank “corruptly influenced government officials” with its hiring practices in China. The settlement ends a three-year investigation into JPMorgan and marks one of…
China central bank has Trump headache amid US policy flux
As if defusing the world’s biggest debt bomb while keeping economic growth humming wasn’t tough enough, Donald Trump’s shock election victory has just made the policy outlook even more complex for People’s Bank of China…
Western Union Services Now Available at Bank of China Locations in All Provinces
BEIJING, Nov. 17, 2016 /PRNewswire/ — The Western Union Company, a leader in global payment services, today announced additional enrollment of over 6,700 Bank of China (BOC) locations into its retail network. BOC customers can…
China c.bank lends $43.96 bln via medium-term lending facility, rates unchanged
BEIJING Nov 16 China’s central bank said it lent 302 billion yuan ($43.96 billion) to 18 financial institutions via its medium-term lending facility (MLF) on Wednesday. Interest rates for the MLF loans were unchanged at…
UPDATE 2-China calls for new private bank to rejuvenate northeast
* At least one new regional bank to be set up by next June * Govt to correct negative, false reporting about northeast * Local govts tasked to develop private economy in the region *…
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