Hong Kong shares also dropped, as investors braced for a likely U.S. rate hike later in the day, and awaited clarity on the Federal Reserve’s future policy. Some investors also think a U.S. hike will…
Tagged By banking
China stocks fall on Anbang tumult, weak investment data; Hong Kong eyes Fed
Anbang-invested shares – including Financial Street Holdings , China Vanke, China Merchants Shekou , Gemdale and China State Construction Engineering – all dropped sharply. Confidence was further dented by China’s tepid investment data for May,…
China-backed bank boasts rising lending power
Beijing (AFP) – The China-backed Asian Infrastructure Investment Bank expects to more than double its lending power for regional projects over the next five years, a top executive said, denying it was an arm of…
China’s EXIM Bank plans more dollar, euro-denominated bonds this year
BEIJING/HONG KONG The Export-Import Bank of China (EXIM) plans to issue up to another $4 billion in euro- and dollar-denominated bonds this year, on top of $4 billion issued so far, as Beijing’s Belt and…
Chinese insurer detained amid financial probe
BEIJING – The Chinese insurer that owns New York City’s Waldorf Astoria Hotel said Wednesday its chairman was unable to perform his duties following a report he was detained by regulators amid accusations of possible…
China’s shadow banking woes force regulators to change course on policy making
The sobering fact that China’s shadow banking system now contributes about one-third the country’s total credit to the real economy is a stark lesson in how well-intentioned policy can lead to a financial mess. Mainland…
China, Luxembourg sign deals on finance, aviation
(Xinhua/Zhang Duo) BEIJING, June 12 (Xinhua) — China and Luxembourg on Monday signed cooperative agreements in finance and aviation during Luxembourg Prime Minister Xavier Bettel’s visit. China hopes to enhance cooperation with Luxembourg in the…
China unlikely to see financial crisis
Moody’s downgrading of China’s long-term local currency sovereign debt from Aa3 to A1 is badly timed, as it coincides with China’s efforts to attract foreign investment into the domestic bond market. However, China’s massive credit…
Are developers ending their affairs with China’s shadow banking system?
As they say in China, whatever policies the central government introduces, the lower levels of power will find a means to counter them. Look no further than Beijing’s uphill struggle to cool the country’s surging…
Mainland investors say goodbye to double-digit returns as Beijing tightens regulations on online lending platforms
One popular investment theme in China has begun to lose its appeal, as Chinese authorities continue with their push to tighten credit and restrict lending through the shadow banking sector. Investors accustomed to double-digit returns…
China slows wealth management product issuance amid tightened regulation: report
BEIJING, June 11 (Xinhua) — China’s banking sector has seen moderated growth in the issuance of wealth management products (WMPs) as the country stepped up efforts to contain risks in the financial industry, a report…
Chinese banking regulator urges progress in inclusive financing
Noting progress in inclusive financial service improvement over the past years, Guo said during an inspection to the Industrial and Commercial Bank of China that there were still issues such as lengthy decision-making process and…
China unlikely to see mid-year liquidity crunch: newspaper
China is highly unlikely to see a mid-year liquidity crisis this year, and there will be no repeat of the “unusual market fluctuations” seen in June 2013, a central bank-affiliated newspaper said. In an editorial…
