SHANGHAI (Reuters) – China’s central bank lent 463 billion yuan ($72.43 billion) to financial institutions on Wednesday via its 1-year medium-term lending facility (MLF), with interest rates unchanged, it said in a statement. The fund…
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China Hongqiao Inks $4.7 Billion Financing Deal With Industrial Bank
BEIJING — China Hongqiao Group, the world’s biggest aluminium producer, said it has signed a financing agreement with Industrial Bank Co Ltd worth 30 billion yuan (3.51 billion pounds) as it looks to upgrade its…
Macau Casinos Drop for Fourth Day on China Crackdown Speculation
Industrial and Commercial Bank of China (Macau) Ltd. said in an emailed statement Wednesday the bank took action to remove non-compliant machines. Checks of so-called POS systems are routine, it said, and the proportion of…
China reportedly offered to buy nearly $70 billion of US agriculture, energy products
China would buy nearly $70 billion worth of U.S. agriculture and energy products if the Trump administration steps back from tariffs, The Wall Street Journal reported Tuesday, citing sources briefed on the latest talks with…
Property stocks climb after China’s central bank tweaks monetary policy
Shares of Chinese property firms climbed on Monday after the People’s Bank of China (PBOC) said it would broaden the range of collateral it accepts as part of its medium-term lending facility (MLF), making another…
China bank chairman’s apparent suicide brings attention to country’s troubled lenders
The recent death of a Chinese rural bank’s chairman has put the spotlight on the troubles that small lenders in the country face as authorities clean up the financial sector in the world’s second-largest economy.…
Exclusive: Ant Financial shifts focus from finance to tech services: sources
and has played a major role in shaping the financial technology landscape in China. Its Alipay online payment app is one of the biggest players in an increasingly cashless society. But in five years, technology…
Bank chairman’s apparent suicide brings attention to China’s troubled lenders
Yin Jinbao, the man found dead in his office last month, served on the boards of Tianjin Rural Commercial Bank and Tianjin Binhai Rural Commercial Bank. Yin’s apparent suicide came at a time when both…
China pushes state banks into home rental market at their own risk
The total value of the rental market was 1.3 trillion yuan last year. China Construction Bank Corp (CCB), the second-largest lender, is the most visible example of this trend, giving loans to renters at ultra-low…
Deutsche Bank Says Never Mind Trade Tensions, Buy China Stocks
Next steps are unclear, following Commerce Secretary Wilbur Ross weekend meetings with negotiators in Beijing. The rhetoric isn’t troubling Deutsche Bank strategist Will Stephens. The MSCI China Index is one of the most domestically geared…
China says trade deals are off if US raises tariffs
The purchases are meant to reduce America’s massive trade deficit in goods and services with China, which last year came to $337 billion, according to the U.S. Commerce Department. After the apparent cease-fire, global financial…
China Banks’ Waning Demand Hints at More Bond Defaults Ahead
“You have seen banks redeeming funds placed with non-bank financial institutions that have reduced the pool of funds available for corporate bond investment overall,” said Wright, who has covered China since 2006. He said the…
China Banks’ Waning Demand Suggests More Corporate Bond Defaults
“You have seen banks redeeming funds placed with non-bank financial institutions that have reduced the pool of funds available for corporate bond investment overall,” said Wright, who has covered China since 2006. He said the…