The strong reading should help underpin wobbly global financial markets but adds to worries that China’s government is still relying too heavily on stimulus and “old economy” growth drivers and is not doing enough to…
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China's Ant hikes MoneyGram bid by more a third, beats rival U.S. offer
BEIJING China’s Ant Financial has sweetened its bid for MoneyGram International Inc by over a third, beating a rival offer to gain approval from the U.S. electronic payment firm’s board, although it still faces regulatory…
China central bank adviser sees potential cuts to RRR: Yicai
SHANGHAI An adviser to China’s central bank has flagged that China’s central bank could reduce the amount of cash banks need to hold, saying such cuts to the reserve requirement ratio would be normal given…
Senior Chinese banking regulator under investigation – Caixin
BEIJING, April 16 A senior official at the China Banking Regulatory Commission (CBRC) is under investigation for suspected links to a loan scandal, the financial magazine Caixin reported, citing sources close to the matter. Yang…
China’s shadow banking rebounds in March, household loans surge
But aggregate financing, which includes bank loans as well as off-balance sheet lending, surged in March and was a record in the first quarter, raising doubts about the effectiveness of official efforts so far to…
China’s financial sector told to expect new wave of graft scrutiny
The warning came after Yang Jiacai, assistant chairman of the China Banking Regulatory Commission (CBRC), was reportedly placed under investigation in relation to a loan scandal in Hubei province. Without confirming the investigation, a commentary…
China is Cracking Down on Unscrupulous Financial Services
Now the China Banking Regulatory Commission has published measures to address risks in the financial and banking sectors. According to ChinaNews, CBRC highlighted 10 areas for improving risk control in both traditional and internet finance…
China Credit Growth Accelerates as Shadow Banking Gauge Picks Up
China’s broadest measure of new credit increased more than estimated in March amid strong growth in shadow banking. New loans slowed for a second month while the money supply increased at the most sluggish pace…
Russia and China Preparing Alternative Banking Architecture
It may have arrived with little fanfare, but Russia’s SWIFT alternative has, more or less, arrived. Speaking in no uncertain terms at a meeting with Russian President Vladimir Putin late last month, Elvira Nabiullina, the…
China's Ant Financial raises offer for MoneyGram to $1.2 billion
SINGAPORE China’s Ant Financial has raised its offer for electronic payment firm MoneyGram International Inc (MGI.O) and the deal was unanimously approved by the U.S. firm’s board, outbidding rival Euronet Worldwide Inc (EEFT.O). Ant, the…
Sacking of Chinese Insurance Regulator Foretells Further Financial House Cleaning
China’s powerful financial sector has officially been put on notice. Xiang Junbo, chairman of the China Insurance Regulatory Commission (CIRC), was placed under investigation for “severe disciplinary violations” last week, according to the Chinese ……
China to post solid, steady first-quarter growth on building boom, but debt risks loom
A strong reading could help wobbly global financial markets but add to worries that China’s government is still relying too heavily on old growth engines like stimulus and not doing enough to tackle risks from…
Sacking of Chinese Insurance Regulator Foretells of Further Financial House Cleaning
China’s powerful financial sector has officially been put on notice. Xiang Junbo, chairman of the China Insurance Regulatory Commission (CIRC), was placed under investigation for “severe disciplinary violations” last week, according to the Chinese ……
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