China’s production of crude steel, half the world’s annual total, fell in July by the widest year-on-year margin since the 2008 global financial crisis. Early indicators suggest it might slip again …
Tagged By banking
Industrial Bank records 23.08 pct rise in net profits for H1
Industrial Bank Co Ltd one of the first batch of joint-stock commercial banks on the Chinese mainland saw its net profits up 2 …
Hong Kong finance chief says fresh strategies needed to cash in on China’s latest 5-year plan, with bond market first in line
Hong Kong needs fresh strategies in everything from asset management to renminbi promotion if it hopes to take advantage of the opportunities offered by Beijing’s latest five-year plan, the city’s …
The luxury industry lost US$70 billion dollars after China want to equally distribute wealth
China saw sales of luxury rise 48 percent to about 54 billion dollars. Now, China said it wants to adjust excessive incomes and see its national wealth more equally distributed. China currently has …
Chinese Social Media Platforms to ‘Rectify’ Financial Self-Media Accounts
China’s top social media platforms, Wechat, Douyin, Sina Weibo and Kuaishou, said on Saturday they would begin to rectify irregular practices of “self-media” accounts that publish financial …
Postal Savings Bank of China records record net profit in H1
Postal Savings Bank of China Co recorded a net profit of 41.24 billion yuan ($6.37 billion) in the first half of this year, representing an increase of 22.48 percent year-on-year. During the period, …
Here’s what Wall Street expects from Bank of China’s earnings report
Bank of China will release figures for the most recent quarter. Analysts on Wall Street predict Bank of China will release earnings per share of CNY 0.200. Go here t …
Former Chinese finance minister Jin Renqing dies after fire at home: report
Former Chinese finance minister Jin Renqing died after a fire broke out in his home in western Beijing on Friday night, according to Chinese media reports. He was 77. State broadcaster CCTV reported …
Lower provisions help Bocom, ICBC, CCB and Postal Savings Bank post strong first-half profit
Postal Savings Bank of China reported the highest first-half profit among lenders that published results on Friday. Bocom president optimistic about full-year outlook.
China cracks down on ‘harmful’ financial news
China has begun a two-month campaign to crack down on commercial platforms and social media accounts that post finance-related information that is deemed harmful to its economy. And in a further sign …
Jin Renqing, Ex-China Finance Minister, Dies in Fire: Caixin
Former Chinese Finance Minister Jin Renqing died in a fire at his home in Beijing, Caixin reported on Saturday, citing multiple unidentified people.
China Construction Bank profit jump 11% to $24b
China Construction Bank Corp, a large State-owned commercial lender, recorded a net profit of 154.1 billion yuan ($23.8 billion) in the first half, an increase of 10.92 percent from the same period …
As China urges the rich to give more for ‘common prosperity’, it can no longer afford restrictions on charity
The circumstances are certainly of concern to China’s most prosperous. Since November, when billionaire Jack Ma’s financial-technology conglomerate Ant Group was suddenly forced to halt a mega share …
