Staff members of a real estate developer pile up bundles of 100 yuan banknotes during a ceremony to give salaries to their construction workers, in Luoyang, Henan province, China, January 9, 2016. The developer gave…
Tagged By banking
China Guangfa Bank fined $109 million for rule violation
BEIJING, Dec 8 (Reuters) – China’s banking regulator has fined China Guangfa Bank Co 722 million yuan ($109.12 million) for providing illegal guarantees for defaulted corporate bonds, it said on Friday. The high-yielding bonds were…
‘Everything’s OK’: China hits back at IMF verdict on health of banking system
China’s central bank has hit back at the International Monetary Fund over its reading of the country’s financial health, in Beijing’s latest bid to control the narrative on the world’s second-biggest economy. The IMF’s twice-a-decade…
Watch China’s efforts to influence as Canada pursues trade, says former envoy
GUANGZHOU, China — He was a curious 23-year-old in a bustling train station somewhere in China, at the height of its busiest season, Chinese New Year. He and his two friends didn’t have tickets, but…
China banks warn new asset management rules may trigger systemic risks: sources
The People’s Bank of China (PBOC) did not immediately respond to a faxed request for comment. The new rules will pose a direct challenge to a business model that small- and mid-tier banks have been…
China’s ballooning debt is a major threat to global financial stability, IMF warns
Women dressed in ethnic costumes perform in an outdoor production called “Impression Lijiang”, held on a man made stage on the Jade Dragon Snow Mountain, 3,100m (10,170 feet) above sea level, near Lijiang city in…
China’s banks need more capital after credit boom
Zhou Xiaochuan, Governor of the People’s Bank of China, speaks during the 32nd Annual Group of 30 (G30) International Banking Seminar in Washington, DC, on October 15, 2017. / AFP CHINA’S banks should increase their…
IMF calls on China banks to boost capital after credit boom
The People’s Bank of China praised the report but disputed some elements, including the interpretation of the stress-test results. “We believe . . . that the (IMF’s) descriptions of the stress testing did not fully…
IMF warns on brewing risks in China’s financial system
The International Monetary Fund on Thursday warned of brewing risks in China’s banking system as it found dozens of crucial lenders needed to beef up their protection against possible financial crises. The report comes a…
UPDATE 1-China’s growth objectives clash with financial stability goal – IMF
China’s central bank’s reaction) By Ryan Woo BEIJING, Dec 7 (Reuters) – China should prioritise financial stability above development goals, as pursuit of regional growth targets and helping firms avoid heavy job losses had led…
HSBC has 3-year head start on foreign investment banking rivals in China: Gulliver
HONG KONG (Reuters) – HSBC (HSBA.L) has a three-year head start on its foreign investment banking rivals in China because of the British bank’s unique position of having management control of its securities venture there,…
IMF, World Bank note efforts to reform nation’s finances
A teller counts money at a bank in Taiyuan, capital of North China’s Shanxi province. [Photo/China News Service] Global financial organizations acknowledged China’s achievements in recent economic and financial reforms after a two-year comprehensive ……
China central bank governor says to control systematic risks
HONG KONG (Reuters) – China central bank governor Zhou Xiaochuan has said keeping prices stable and controlling systematic risks in the financial sector are two core targets for the bank. The People’s Bank of China…
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