Despite the impact of COVID-19 over the past year, many Chinese military analysts and observers believe that the country’s defense budget for 2021 will continue to increase, likely at a higher growth … ( read…
Tagged By banking
China Bank profits up 20% despite pandemic
China Banking Corporation (China Bank) reported a 20 percent growth in net income to P12.1 billion despite the challenges posed by the pandemic last year. In a disclosure to the Philippine Stock … ( read…
China Bank income jumps 20% in 2020
China Banking Corp. earned 20 percent more in 2020 as its asset base breached the P1-trillion level despite the uncertainties brought about by the COVID-19 pandemic. In a statement, China Bank … ( read original…
What does US bond ‘taper tantrum’ mean for China’s financial markets?
A sell-off in the US Treasury bond market this week caused declines in global markets, evoking memories of a collective reactionary panic and highlighting China’s vulnerabilities to shifts in capital … ( read original story…
ICBC Names Chief Risk Officer Liao Lin as New President of World’s Biggest Bank
Industrial and Commercial Bank of China, the world’s largest lender, said yesterday that it has promoted Liao Lin, chief risk officer and senior executive vice president, to the position of president. ( read original story…
China Bank 2020 net profit up 19.8% led by net interest income
China Banking Corp. said it booked a 19.8% increase in net profit in 2020, with the low-interest environment driving solid growth in net interest income by reducing the payout to depositors, and with … (…
China policy and markets round-up: Beijing hones in on green finance, southbound Bond Connect to launch before year-end, BOC, ICBC name new presidents
In this round-up, the State Council calls for more efforts in the development of green finance in China, regulators plan to kick off southbound trading under Bond Connect by the end of 2021, and large…
China Bank bucks pandemic downturn, posts double-digit profit growth
Sy family-led China Banking Corp. bucked the downturn in corporate earnings caused by the COVID-19 pandemic in 2020, posting a double-digit growth in profits while hitting the … ( read original story …)
China bond house: Bank of China
China’s economy was the first to be hit by the Covid-19 pandemic in early 2020, and Bank of China took a leading role in mobilising the capital markets in response. On February 11, shortly after…
China’s Ant to boost consumer finance unit capital as it restructures micro-lending -sources
China’s Ant Group is in talks with other shareholders in its new consumer finance unit to bolster the firm’s capital as it prepares to fold in its lucrative micro-lending businesses, people familiar … ( read…
Pinduoduo recognized for work on alleviating poverty in China
Pinduoduo Inc. (“Pinduoduo”, or the “Company”) (NASDAQ: PDD), China’s largest agricultural platform, was recognized for its efforts in alleviating rural poverty. Pinduoduo was one of three technology … ( read original story …)
Katherine Tai, Biden’s top trade nominee, says tariffs are ‘legitimate tools’ to counter China
Katherine Tai, President Joe Biden’s top trade nominee, backed tariffs as a “legitimate tool” to counter China’s state-driven economic model. ( read original story …)
China Bank posts P12.1B net income in 2020, up 20%
Sy-led China Banking Corp. posted a double-digit increase in its bottom line in 2020 on strong performance across its businesses, offsetting the impact of COVID-19 pandemic. In a disclosure to the … ( read original…
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