China’s cabinet on Wednesday said the government will encourage domestic and overseas investors to participate in “green financing”, and will set up pilot areas to experiment with green finance reforms. China and the Asia Development…
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China, ADB launch green financing platform to fight pollution
… Investment and Guaranty Corporation (I&G), the State Development and Investment Corporation (SDIC), as well as China’s finance ministry and National Development and Reform Commission. The bank late last year approved a loan of 458…
Even before Anbang chairman detained, some banks halted its products
The head of a Beijing branch of Industrial and Commercial Bank of China (ICBC) (601398.SS) said Anbang’s 3-year universal insurance products with guaranteed principal and interest were very popular last year, with interest rates at…
China stands pat on rates this time despite Fed hike
SHANGHAI China’s central bank left interest rates for open market operations unchanged on Thursday, shrugging off an overnight increase in the U.S. Federal Reserve’s key policy rate. The People’s Bank of China (PBOC) did not…
Can China Really Rein in Credit?
China’s regulators, it seems, are on the attack. Guo Shuqing, chairman of the China Banking Regulatory Commission, announced recently that he’d resign if he wasn’t able to discipline the banking system. Under his leadership, the…
China removes deputy banking regulator from post: cabinet
BEIJING China’s State Council has officially removed Yang Jiacai, the assistant chairman of the China Banking Regulatory Commission, from his post, according to a notice published on the website of the State Council. Last month,…
Detention of Anbang Insurance boss hits China banking shares
HONG KONG — Shares in China Merchants Bank and China Minsheng Banking were trading lower in Hong Kong on Wednesday following reports that Wu Xiaohui, chairman of China’s Anbang Insurance Group, the banks’ largest shareholder,…
China Finance Online Reports First Quarter 2017 Unaudited Financial Results
Mr. Zhiwei Zhao, Chairman and CEO of China Finance Online, commented, “In the recent period, increased regulatory enforcement pressured a number of commodities exchanges to significantly reduce their commodity trading and eventually led to complete…
China Finance Online reports 1Q loss
BEIJING (AP) _ China Finance Online Co. (JRJC) on Wednesday reported a first-quarter loss of $11.6 million, after reporting a profit in the same period a year earlier. The Beijing-based company said it had a…
Detention of Anbang boss a milestone in financial industry crackdown, analysts say
The reported detention of Anbang Insurance chairman Wu Xiaohui could be a milestone in efforts to take on vested interests – many with connections to the political elite – in China’s financial sector, paving the…
BRIEF-China Finance Online Co Q1 revenue $8.7 million versus $30.7 million
June 14 China Finance Online Co Ltd: * China Finance Online reports first quarter 2017 unaudited financial results * Q1 revenue $8.7 million versus $30.7 million * China Finance Online Co Ltd – fully diluted…
China to set up pilot zones for green finance, cut red tape for industries
The State Council, China’s cabinet, Wednesday announced its decision to set up pilot zones for green finance to support its industrial upgrading and to further cut red tape. The pilot zones will be in Guangdong,…
China central bank says slower M2 growth could be ‘new normal’, deleveraging to continue
BEIJING China’s bank lending was generally normal in May, while the slowdown in M2 money supply growth reflects deleveraging in the finance sector, the People’s Bank of China said on Wednesday following the release of…
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