Chinese banks dealt with 8.6 billion payments from mobile services in Q2, up 40.5 percent from a year ago, the People’s Bank of China said. The combined value of mobile payments jumped 33.8 percent to…
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China’s financial groups opened to foreign owners
Courtesy demands reciprocity, as the Chinese saying goes. US president Donald Trump was effusively courteous during his visit to China last week, at one point describing Xi Jinping, his Chinese counterpart, as a “very special…
ICBC Teams Up With JD.com to Offer Digital Banking Services
Customers will be able to request credit services such as proof-of-deposit slips through the online platform, the Beijing-based bank said in a statement Monday. The logistics unit of JD.com will deliver the documents to the…
Beijing Rage Over Child Abuse, Evictions Shows Pressure on Xi
Volunteer networks have sought to provide shelter and food to migrants. Beijing is shifting its economy into higher value industries including technology and finance, and is striving to improve its living environment to attract top…
Beijing is Making Its Most Serious Effort Yet to Tackle Its Financial-System Issues
Beijing is coming to grips with its Wild West-like financial system—not a moment too soon, many would argue. The jittery market reaction shows just how delicate that operation is going to be. The timing isn’t…
BRIEF-China Rongzhong Financial Holdings Co Says HY Net Loss Attributable HK$189.3 Mln
* HY NET LOSS ATTRIBUTABLE TO OWNERS OF COMPANY OF HK$189.3 MILLION VERSUS PROFIT HK$39.1 MILLION Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com) Our Standards:The Thomson Reuters Trust Principles. ( read original story …)
China clamping down on vast shadow banking sector
If the latest clampdown on shadow banking proves too destabilizing to the financial markets, Beijing may even undermine its own efforts in order to prevent the social unrest that it fears. ( read original story…
China’s debt is growing at a faster pace despite years of efforts to contain it
Without a comprehensive strategy to tackle the overhang, there is a growing risk China will have a banking crisis or sharply slower growth or both, the International Monetary Fund said last year. China’s central bank…
China treads carefully to tame financial cycles
While the market debates China’s latest round of economic growth, national regulators are focusing on an equally important factor of the economy: financial cycles. In its latest quarterly monetary policy implementation report, the People’s Bank…
Beijing kindergartens get permanent inspectors after abuse scandal – Xinhua
SHANGHAI (Reuters) – Beijing will hire permanent inspectors to provide oversight at every one of its kindergartens following child abuse allegations at a facility run by the New York-listed RYB Education, state news agency Xinhua…
China online finance regulator tells unqualified micro-lenders to stop lending
BEIJING (Reuters) – The National Internet Finance Association of China issued a risk warning letter late on Friday telling “unqualified institutions” to immediately stop offering loans as Beijing steps up a crackdown on the micro-loan…
BRIEF-China Shandong Hi-Speed Financial Group posts HY loss attributable of HK$240.1 million
* HY loss attributable HK$240.1 million versus loss of HK$550.7 million Source text for Eikon: Further company coverage: Our Standards:The Thomson Reuters Trust Principles. ( read original story …)
BRIEF-China Oceanwide International Financial expects a profit for HY
* Expected result mainly due to increase in revenue Source text for Eikon: Further company coverage: Our Standards:The Thomson Reuters Trust Principles. ( read original story …)
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