The Wenchang Road outlet of the Postal Savings Bank of China in the desert city of Wuwei is in the literal and metaphorical wild west of the Chinese financial world. Wuwei is in the remote…
Tagged By finance
Chinese bank shares rise on Beijing’s reiteration to weed out irregularities
Shares of mainland Chinese banks rose in morning trading in Hong Kong on Monday as Beijing clenched an iron fist to clean up irregularities to shore up lenders’ corporate governance. The Industrial and Commercial Bank…
Report: World’s biggest bank ICBC comes to Greece
The world’s largest bank, the Industrial and Commercial Bank of China (ICBC), is coming to Greece, being the second Beijing bank with interests here after the China Development Bank. ICBC, boasting €3.2 trillion ($3.9 trillion)…
China’s Banking Regulator Fines 19 Banks Over $3-Billion Pledged Loan Fraud
BEIJING (Reuters) – China’s banking regulator has imposed fines of 52.5 million yuan ($8.36-million) on 19 banks in the northwestern province of Shaanxi and the central province of Henan over a 19-billion-yuan ($3-billion) pledged loan…
China’s central bank injects liquidity into market in January
The People’s Bank of China (PBOC) is seen in this file photo taken in Beijing. [Photo/Xinhua] BEIJING – China’s central bank injected 495.5 billion yuan ($78.8 billion) into the market via various tools in January…
China’s banking sector reports growing domestic assets in 2017
BEIJING, Feb. 1 (Xinhua) — China’s banking sector reported growing domestic assets and debt in 2017, official data showed Thursday. Domestic assets of financial institutions in the banking sector stood at 245.78 trillion yuan (38.99…
Shanghai banking regulator tightens rules on acquisition loans for property projects – sources
SHANGHAI/BEIJING (Reuters) – The banking regulator in Shanghai, China’s commercial capital, has told commercial banks to “strictly control” acquisition loans for financing property development projects, two sources with direct knowledge of the matter … (…
People’s Bank of China issues commemorative 10-yuan coins
(Xinhua/Zhang Bo) A bank clerk displays commemorative coins for the Year of the Dog in Beijing, capital of China, Feb.2, 2018. The People’s Bank of China issued commemorative 10-yuan coins on Friday. (Xinhua/Zhang Yuwei) Photo…
China central bank asks EU to reconsider thresholds for bank supervision requirements
BEIJING (Reuters) – China’s central bank on Tuesday asked the European Union authorities to reconsider proposed rules that require foreign banks to set up parent holding companies for supervisory purposes, if they have assets of…
China Stocks Hit by Beijing’s Financial Clampdown
SHANGHAI—Chinese stocks had their worst week since 2016, with fresh concerns about Beijing’s campaign to cut financial risk and predictions of a slowing economy helping erase half of the market’s year-to-date gains in just a…
China Urges Crackdown on M&A Loans Used to Buy Land
Shanghai branch of CBRC is said to issue notice to banks Continues crackdown of flow of funds into risky real estate China’s banking regulator has told lenders in Shanghai to increase their scrutiny of loans…
IMF On China: A Downturn is Inevitable
provides a good summary of many of the key issues facing China’s economy. Rapid credit growth since the global financial crisis is record setting for both its total expansion and its duration. Credit is being…
China’s financial system dogged by a corrupt alliance of cats and rats, central bank discipline chief says
A corrupt alliance of “rats and cats” is to blame for the lack of order and heightened risk within China’s financial system, the newly appointed head of discipline at the country’s central bank said on…
ADVERTISEMENT
