New analysis by the Financial Times shows China’s banking system has overtaken the eurozone to become the world’s biggest by assets. The status reflects the country’s increasing global influence and its reliance on growth driven…
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Recent Posts
China Unseats Eurozone as World’s Largest Banking System
China's Banking System Hits $33 Trillion, Overtaking The Eurozone As World's Largest
Something historic, if largely unnoticed, took place at the end of 2016: China’s banking system surpassed that of the eurozone, becoming the world’s largest by assets, which according to the FT is a sign of…
Landmark ruling for Chinese bank can't be collected against Metro Vancouver homes
A Chinese bank has won a landmark ruling against a Chinese man who allegedly disappeared from China with an unpaid $10-million dollar loan in 2014, and quickly purchased four Vancouver-area homes. China CITIC Bank won…
Banking regulator advisor calls for vigilance on financial risks
a special advisor to China Banking Regulatory Commission, said Monday. Effective measures should be taken to oversee financial transactions and products yet to be covered by government regulation, Yang said at a press conference on…
Bank for International Settlements says Canada is showing early warning signs of financial crisis
That report said the country’s “unusually” elevated level posed a threat to the country’s banking system. China’s credit to GDP gap remains higher, at 26.3 per cent, according to Monday’s report, but Canada’s 17.4 per…
Banks worry over China's THAAD retaliation
According to sources Tuesday, five domestic banks ― KEB Hana, Shinhan, Standard Chartered Korea, the Industrial Bank of Korea (IBK) and Woori ― have payment guarantees extended to Lotte’s affiliates in China. The amount reportedly…
China Mobile sees 10% revenue hit from order to cut fees
BEIJING — A Chinese government order to eliminate long-distance and domestic-roaming charges within the year could slash China Mobile’s revenue by up to 10%, CEO Li Yue indicated Monday. Premier Li Keqiang announced the policy…
No defense spending number in China budget? No problem: finmin
BEIJING Chinese Finance Minister Xiao Jie on Tuesday downplayed the lack of defense spending numbers in this year’s budget as there had been in previous years, saying there was no problem with transparency in state…
China vows to strictly control local government debt quotas
Government debt risks are generally under control, Xiao told a news conference on the sidelines of the session. “I believe (measures taken) will be able to reasonably control outstanding local government debt and contain debt…
China’s banking system overtakes eurozone to become the biggest in the world
Industrial and Commercial Bank of China is the largest in the world by assets Reuters China’s banking system is now the biggest in the world, new analysis has shown. The country’s banks have more assets…
Spotlight: China's macroeconomic governance injects momentum to global development
Dialectical thinking is an important method applied by the Chinese leadership. Guided by the method, China has initiated five development concepts — innovation, coordination, green, opening up and sharing — outlined in China’s 13th Five-Year…
China’s economy will open up like never before, promises President Xi
told lawmakers on Sunday that China’s opening door will not close, vowing that the country will continue to open up on all fronts and continue to liberalise, state-run Xinhua news agency reported on Monday. His…
China must woo top tech talent turned off by Trump, says Baidu chief
The billionaire chief of Baidu, which is often referred to as China’s Google, has urged Beijing to further ease visa restrictions to attract overseas workers, some of whom might be put off by US President…
