BEIJING, Dec 1 (Reuters) – China’s banking regulator said on Friday that the country’s interbank business slowed significantly in the first 10 months of the year, with the total volume of wealth management products (WMPs)…
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China says growth in interbank wealth products slowing sharply
China’s banking regulator says will clean up existing micro loans
BEIJING (Reuters) – China’s banking regulator said on Friday that it will clean up existing micro loans after it suspended its approval for new micro loan firms, amid a crackdown on riskier borrowing. The regulator…
Top 3 players of China’s telecom market Q1-Q3 2017
Regarding 4G users, China Unicom and China Telecom combined had a total of 328 million 4G network users, versus China Mobile’s 622 million; however, as of June, the former two had less than half the…
Regulator fines China Minsheng Banking $4.2 million for fake wealth product sales
SHANGHAI (Reuters) – China’s banking regulator has fined a Beijing branch of China Minsheng Banking Corp (1988.HK) 27.5 million yuan ($4.16 million) for selling fake wealth management products, according to a notice posted on its…
Regulator fines China Minsheng Banking $4.2 mln for fake wealth product sales
SHANGHAI, Dec 1 (Reuters) – China’s banking regulator has fined a Beijing branch of China Minsheng Banking Corp 27.5 million yuan ($4.16 million) for selling fake wealth management products, according to a notice posted on…
China central bank skips open market operations on sufficient liquidity
China’s central bank suspended open market operations Friday, citing sufficient liquidity in the banking system. The move meant a net cash withdrawal of 40 billion yuan (6.05 billion U.S. dollars) from the market as previous…
China busts underground bank used to funnel $3 billion out of the country
BEIJING—The money came from all over China — its wealthy southern and eastern coasts as well as the arid northwest — as thousands of people scrambled to circumvent the country’s strict controls on wealth. In…
China’s debt crackdown hits cash loan firms
China has long been known as a nation of savers, but consumers are rapidly embracing debt from non-bank online platforms. And the numbers of those taking out cash loans from the lenders is growing at…
China Mobile Launches RCS Nationwide
China Mobile has announced that it is the first Chinese operator to commercially launch RCS services to subscribers across the country from 1st December with the aim of enhancing the communications capabilities of its subscribers.…
Beijing restaurant sells its final North Korean beer as sanctions take hold
BEIJING — “This is the empty bottle of my last North Korean beer. I sold it last night,” Cui Chengri lamented, speaking from his empty Beijing restaurant. “I need re-supply by tonight but I don’t…
Beauty contest: China make-up brands rein in South Korea rivals
SEOUL/SHANGHAI, Dec 1(Reuters) – As a diplomatic spat between Beijing and Seoul raged this year, many South Koreans felt decidedly unwelcome in China. South Korean businesses were shunned, K-pop concerts were canceled and tourist trade…
GM venture to recall nearly a million vehicles in China: quality watchdog
BEIJING (Reuters) – One of General Motors Co’s (NYSE:GM – News) China ventures will recall nearly a million vehicles due to fuel tank problems, the country’s quality watchdog said on Friday, the latest in a…
Myanmar’s Suu Kyi visits China as crackdown criticism grows
BEIJING — Myanmar civilian leader Aung San Suu Kyi was set to meet President Xi Jinping on a visit to friendly neighbour China starting Friday as international criticism over her country’s persecution of Rohingya Muslims…
