Guangzhou on Wednesday became the first major Chinese city to announce an easing of mortgage curbs and the country’s top banks flagged mounting risks from property sector turmoil, as Beijing ramps up …
FINANCE
Top China bank ICBC posts 1.2% H1 profit rise
Industrial and Commercial Bank of China Ltd (ICBC), the country’s biggest lender, said on Wednesday net profit grew 1.2% year-on-year in the first half of this year.Profit was 173.74 billion yuan ($23 …
China’s Bank of Communications to ‘initiate’ a mortgage rate cut, hewing to the push to make first homes more affordable and lift housing slump
The mortgage rate cut by Bank of Communications or BoCom, as China’s fifth-biggest lender is called, could spur larger banks to follow, days after the Chinese central bank and housing ministry eased …
China eases mortgage rules in Guangzhou amid efforts to revive key property sector
Guangzhou on Wednesday became the first major Chinese city to announce an easing of mortgage curbs as the government ramps up efforts to revive the crisis-hit property sector and shore up a sputtering …
Chinese bank shares fall on existing mortgages rate cut concerns
Shares in China’s banking sector dropped on Wednesday on worries that a reduction in existing mortgage rates will dent the profitability of lenders already reeling from a worsening property sector …
Just as China faces a Japan-style ‘lost decade,’ Japan thinks it’s near a ‘turning point’ in decades-long deflation battle
China’s economic woes are starting to resemble the decades-long problems of Japan. In the 1970s and ’80s, Japan’s economy quickly developed into a powerhouse, just as China’s has over the past few …
China’s largest bank trading near record low valuation on margin woes
China’s biggest lender is likely to report slower earnings growth, dragged by weak margins and fee income, according to Bloomberg Intelligence analyst Francis Chan.
Exodus of capital from China signals ‘seismic’ change in global flows as investors grow wary of autocratic regimes
“Global markets look at China in a new light,” tweeted Robin Brooks, chief economist at the Institute of International Finance.
Is Beijing Losing Control Of Its Economy?
Weak consumer confidence also continues to contribute to lower domestic demand. Beijing acknowledges this and thus avoids direct stimulus measures like tax cuts or payments. This is because Chinese …
China’s record annual limit for infrastructure-boosting bonds to be spent by October
Local governments are scrambling to sell more than US$500 billion worth of special-purpose bonds that will mostly fund construction projects and boost China’s economic growth But the spending spree …
China’s Bank of Communications to discuss changing existing mortgage rates: Report
BEIJING: China’s Bank of Communications (BoCom) plans to host an internal meeting on Wednesday (Aug 30) to discuss changing rates charged on existing mortgages, financial media outlet 21jingji.com …
China Mega Banks Weigh Further Deposit Rate Cuts to Boost Growth
China’s biggest state-owned banks are considering lowering deposit rates for at least the third time in a year, according to people familiar with the matter, as they ramp up efforts to boost the …
China extends tax breaks for foreign workers until 2027
BEIJING, Aug 29 (Reuters) – China will extend preferential tax policies for foreign nationals working in the country through to the end of 2027, the finance ministry said on Tuesday, in a boon to …
