Good morning. In the wake of the financial crisis, China’s leaders discovered a seemingly easy fix to cushion the world’s second largest economy from the economic fallout in the West: Cheap credit. This has led…
Tagged By banking
China central bank to count off-balance sheet wealth management products in assessing banks' risk: sources
SHANGHAI China’s central bank will tighten supervision of shadow banking businesses by including off-balance sheet wealth management products (WMPs) into its risk-assessment framework next year, sources with direct knowledge of the matter told Reuters. (…
China bars banks from funding coal, steel 'zombie firms'
BEIJING China’s banking regulator said on Friday that banks must strictly control credit to coal and steel firms that are violating capacity cuts, the latest in a series of regulations aimed at reducing loans to…
Chinese Interbank Lending Freezes, Forcing Massive Intervention By China's Central Bank
China is finding itself in an increasingly more untenable situation, trapped on one hand by its sliding currency (and declining reserves), which as noted earlier it has manipulated higher by forcing overnight unsecured rates to…
Liechtenstein private bank LGT mulls further Asian acquisitions
The private banking industry globally is struggling in the face of tougher … LGT A further problem for private banks in China is that there are insufficient assets in Hong Kong and Singapore, where the…
China’s central bank extends massive loans to financial firms
China’s central bank extended hundreds of billions of yuan in emergency loans to financial firms on Friday and ordered some of the country’s biggest lenders to extend credit as well, as it moved to ease…
As yuan weakens, Chinese rush to open foreign currency accounts
Industrial and Commercial Bank of China (ICBC) on its website offers preferential exchange rates for dollar-to-yuan transactions. “We’re not seeing capital flight or lack of confidence in the local currency,” said Raymond Yeung, chief economist…
Public-private partnership financing yet to take off in China
JPMorgan said it prefers the approach taken by Postal Saving Bank of China. The lender increased its infrastructure exposure by purchasing the special bonds issued by policy banks and reduced direct exposure. That said PPP…
China Automatic Teller Machine (ATM) Industry Report, 2016-2020
Currently, major banks in China have begun to deploy this kind of equipment, with Bank of Communications, for example, having deployed 489 VTMs as of the end of June 2015. From the perspective of competitive…
Bank of China : Fonterra in pact for $200m multi currency facility with Bank of China
New Zealands Fonterra, a leading global diary supplier and Bank of China has entered into an agreement to form a NZ$300 million ($200 million) multi currency bank facility, according to the announcement by Fonterra. The…
Heralding social, financial change, China aims blow at iron rice bowl
PINGDINGSHAN, China (Reuters) – China has ordered state firms to smash the decades-old system of providing cradle-to-grave welfare support, known as the country’s “iron rice bowl”. But the order, part of a plan to reduce…
China, U.S. should avoid damaging trade war: Chinese vice finance minister
BEIJING China hopes there won’t be a trade war with the United States, but it will take “appropriate steps” to cope with that possibility, a Chinese vice finance minister said on Saturday. Zhu Guangyao, addressing…
China vows to fight US and EU over anti-dumping measures
CHINA has vowed to take action against the west over the scrapping of a huge promise it claims was made to it 15 years ago. Since 2001, the United States and the European Union have…
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