BEIJING (Reuters) – Agricultural Bank of China Ltd (AgBank) and Bank of China Ltd (BoC), the country’s third- and fourth-largest lenders, reported higher profits for the first half of the year as marg… ( read…
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Three tonnes of mouldy cash show why China is taking action against Huarong’s debt burden
On a spring morning on a Tuesday in mid-April, Lai Xiaomin was invited to attend a meeting by China’s newly merged banking and insurance regulator on Finance Street in the nation’s capital. As soon as…
China banking sector’s assets up 7.5%
A teller counts banknotes at an outlet of Harbin Bank. [Photo by Yu Kun/China News Service] BEIJING – Chinese banks held 254.3 trillion yuan ($37 trillion) in assets as of the end of July, according…
Yuan hits four-week high as China signals support, revives X-factor for fixing
SHANGHAI (Reuters) – China’s yuan finished Monday afternoon trade at a near 4-week high to the dollar after the central bank revived a “counter-cyclical factor” in its daily fixing to support the curr… ( read…
Offshore yuan touches 1-month high after central bank makes tweak to daily pricing
Offshore yuan, traded outside the mainland, weakened Monday, giving up early morning gains when the currency jumped to its highest level in almost a month following an adjustment by the central bank i… ( read…
China cabinet to curb risks in online finance, share-backed loans
BEIJING (Reuters) – China will continue to resolve financial risks in online lending and the use of shares as collateral for financing activities to protect market stability, the state council said on … ( read…
Yuan at two-and-a-half week high as China signals support, revives fix factor
SHANGHAI (Reuters) – The yuan hovered at a 2-1/2-week high against the U.S. dollar on Monday after China’s central bank revived a “counter-cyclical factor” in its daily fixing to support the currency, … ( read…
China’s Yuan Steady After Central Bank Signals its Support
China’s yuan was stable in early onshore trading following Friday’s surge, as the central bank signaled that it’s taking action to support the currency through its daily fixing. Starting this month, b… ( read original…
Ant and UN body partner for African financial inclusion
A mascot of Ant Financial is seen at its office in Hangzhou, East China’s Zhejiang province, Sept 21, 2016. [Photo/Agencies] ADDIS ABABA – The United Nations Economic Commission for Africa has forged … ( read…
China says will fend off internet finance risks
BEIJING (Reuters) – China’s state council committee said on Monday it would fend off financial risks in areas including online finance and listed firms’ stock collateral loans. In a post following a m… ( read…
China’s Best-Performing Bank Stock May Have More Room to Rise
President Xi Jinping’s push to spur lending in his economy stands to benefit Postal Savings Bank of China Ltd., whose ubiquitous green-fronted outlets have been luring deposits across the nation. This … ( read original…
China’s Alibaba, Tencent Bar Cryptocurrency Transactions on WeChat Pay, AliPay
In a move that will likely make it even harder for cryptocurrency aficionados to trade Bitcoin and its ilk in China, the mobile payments titans of the country have barred crypto-related transactions. … ( read…
China injects $22bn into banking system through loans
The People’s Bank of China injected Rmb149bn ($22bn) into the banking system through loans to commercial banks on Friday, the government’s latest move to encourage stronger credit flows to companies a… ( read original story…
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