Financial News, the mouthpiece of the People’s Bank of China, published an opinion piece on last Tuesday saying Beijing should “accelerate the process of launching a sovereign digital currency after it curbed risks of encryptocurrencies”.…
Tagged By banking
China Construction Bank Partners IBM for Blockchain ‘Bancassurance’ Solution
China Construction Bank, the world’s second-largest bank by market capitalization, is working with IBM to develop and launch a blockchain-enabled bancassurance platform for its retail and commercial banking arm in Hong Kong. A ‘bancassurance ……
Calls for a freer yuan from inner circle of China’s central bank
China could be heading towards a free-floating currency after a group of economists – including officials from the central bank – suggested the time was ripe for such a move. The comments were made in…
China’s robot revolution may affect developing countries, says World Bank
China is rapidly replacing factory workers with machines and will likely have the highest number of industrial robots in the world by next year, according to a new World Bank report. The fast pace of…
China’s Banks Cannot Achieve Financial Inclusion Alone, Think Tank Chief Says
(Beijing) — To achieve financial inclusion in China, a competitive and sustainable microloan market is more important than simply offering loans at lower rates or to provide lending to borrowers shunned by banks, the head…
Hong Kong ‘falling behind’ in race to build up automated financial adviser platforms
Operators of automated, algorithm-driven financial planning services, or so-called robo-advisers, in Hong Kong need to significantly step up their game if they are to compete with Chinese and US institutions, according to Freeman Tsang, head…
AviaAM Financial Leasing China Concludes $500 Million Aeroflot Project
AviaAM Leasing announced that its joint venture with the Henan Civil Aviation Development and Investment Company (HNCA) – AviaAM Financial Leasing China – has brought a $500 million-worth aircraft delivery project to a conclusion. Eight…
As China Piles on Debt, Consumers Seek a Piece of the Action
Now, it’s Li Jing’s turn. Ms. Li, a 33-year-old car saleswoman here in the middle of China’s declining industrial zone, is one of the growing millions of Chinese using mortgages and credit cards to finance…
Fitch Ratings is expecting China’s first local government bond defaults, but timing uncertain
There are concerns about the potential for a wave of defaults in China due to high local government debt, which could impact the financial markets and potentially spread a wave of contagion across the global…
China to more closely oversee state firm finance units, sources say
China will create a centralised financing company to oversee billions worth of dollars in funds held by the country’s state-owned enterprises’ finance units, people familiar with the matter said, allowing the government closer supervision of…
China Development Bank Financial Leasing and Unit to Buy Aircraft From Airbus and Boeing
HONG KONG–China Development Bank Financial Leasing Co. Ltd. (>> China Development Bank Fnacl Lsng Co Ltd) said late Friday that it together with its unit in Ireland CDB Aviation Lease Finance DAC, have signed agreements…
Financial market reform crucial to China’s economy
China is expected to further open up its financial market as part of a strategy to expand its economy in the coming years, according to Harvey Schwartz, president and co-chief operating officer of Goldman Sachs…
China’s Leshi Internet plans to buy finance business from affiliate for 3 billion yuan
(Reuters) – The main listed unit of Chinese technology conglomerate LeEco said on Sunday that it plans to buy investment and financial service assets from an affiliate for up to 3 billion yuan ($455.24 million)…
