The island of Caofeidian is located 200 kms from Beijing and is a land reclaimed from the sea and converted into an economic development zone in Tangshen district, China. The port of Caofeidian was promoted…
Tagged By banking
China central bank reaffirms prudent, neutral monetary policy in 2018
BEIJING (Reuters) – China’s central bank pledged on Tuesday to maintain a prudent and neutral monetary policy this year and keep liquidity reasonably stable. China also will step up macro-prudential management for shadow banking and…
South African bank partners with UnionPay on cashless options
File photo taken on Sept. 25, 2011 shows a customer displays bank cards in Qionghai, south China’s Hainan Province. (Xinhua/Meng Zhongde) JOHANNESBURG, Feb. 5 (Xinhua) — Standard Bank signed an agreement with UnionPay International on…
China to open door wider for foreign banks
In a bid to attract more foreign investment, China will further open up its banking sector by relaxing rules on foreign banks. The move hopes to give foreign players easier access to the local market…
China is moving to eliminate all cryptocurrency trading with a ban on foreign exchanges
China has previously taken steps to curb cryptocurrency trading in the country, but recent moves may eliminate trading in the country completely. People’s Bank of China said on Sunday that it would block access to…
Banking, transport sectors lead rebound in equities
SHANGHAI－China’s stocks recouped early losses sparked by a slide on Wall Street and ended higher on Monday, underpinned by robust gains in banking and transport shares that offset a slump in consumer shares. At the…
Beijing bans bitcoin, but when did it all go wrong for cryptocurrencies in China?
The People’s Bank of China (PBOC) and four other financial regulators issue a joint notice outlining the risks associated with bitcoin. Beijing states that it is not a currency, and prohibits banks and other financial…
China stocks reverse losses, end higher as banks jump
The largest percentage gainers in the main Shanghai Composite index were Kailuan Energy Chemical Co Ltd. SHANGHAI: China stocks recouped early losses sparked by a slide on Wall Street and ended higher on Monday, underpinned…
Bank works overtime to save most of elderly couple’s US$4,750 life savings after house fire
An elderly couple from rural China who thought they had lost their life savings in a fire at their home managed to recoup three quarters of their nest egg after bank workers spent eight hours…
Quick Take: Chinese Bank Brands Outperform Global Peers
The brand value of China’s top banks increased by 22% in 2017, more than double the average growth experienced by the world’s top 500 banks. The value of the 45 Chinese bank brands on the…
Reserve Bank fines China Construction Bank for failing to follow procedures
The central bank says the fine was due to weaknesses in the Chinese bank’s control measures rather than transactions involving money laundering or the financing of terrorism It is impossible to extract ore from the…
China stocks defy global downtrend, Hong Kong cuts losses on strong inflows
Buying has been concentrated in Hong Kong-listed Chinese lenders, such as CITIC Bank and China Everbright Bank Co. Ma Xixun, executive director at asset manger PinPoint, said he expects the Hong Kong market to remain…
UBS raises China 2018 GDP growth forecast
BEIJING – Swiss bank UBS has upgraded its forecast on China’s 2018 gross domestic product (GDP) growth, citing stronger momentum of the global economy and growth in China’s exports. The bank revised up its China…
