China will finish a nationwide inspection of its burgeoning internet microloan industry by the end of next month as the nation cracks down on cash loans and other irregularities, according to a document seen by…
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Ten Chinese banks oppose central bank’s new asset management rules – sources
BEIJING/SHANGHAI (Reuters) – Ten Chinese joint-stock banks raised objections to new central bank rules to tighten regulations on the asset management industry during a close-door meeting in Shanghai last week, three sources with knowledge of…
Beijing Develops Plan to Counter Trump Tax Plan
BEIJING—As the U.S. prepares to take China to task over trade … Data from the Washington-based Institute of International Finance show that investor fund flows to emerging markets turned sharply negative late last month due…
Unified APP of China’s Banking Industry, “Mobile QuickPass” Officially Launches Today
To provide more value to cardholders and to encourage more customers to experience the functions and services of the “Mobile QuickPass” APP, China UnionPay has collaborated with commercial banks to launch 50%-off discount for the…
China Credit Growth Exceeds Estimates as Funding Remains Buoyant
Aggregate financing stood at 1.6 trillion yuan ($242 billion) in November, the People’s Bank of China said Monday, compared with an estimated 1.25 trillion yuan in a Bloomberg survey and 1.04 trillion yuan the prior…
DEUTSCHE BANK: A major financial crisis is almost twice as likely in China as anywhere else in the world
Staff members of a real estate developer pile up bundles of 100 yuan banknotes during a ceremony to give salaries to their construction workers, in Luoyang, Henan province, China, January 9, 2016. The developer gave…
China Guangfa Bank fined $109 million for rule violation
BEIJING, Dec 8 (Reuters) – China’s banking regulator has fined China Guangfa Bank Co 722 million yuan ($109.12 million) for providing illegal guarantees for defaulted corporate bonds, it said on Friday. The high-yielding bonds were…
‘Everything’s OK’: China hits back at IMF verdict on health of banking system
China’s central bank has hit back at the International Monetary Fund over its reading of the country’s financial health, in Beijing’s latest bid to control the narrative on the world’s second-biggest economy. The IMF’s twice-a-decade…
Watch China’s efforts to influence as Canada pursues trade, says former envoy
GUANGZHOU, China — He was a curious 23-year-old in a bustling train station somewhere in China, at the height of its busiest season, Chinese New Year. He and his two friends didn’t have tickets, but…
China banks warn new asset management rules may trigger systemic risks: sources
The People’s Bank of China (PBOC) did not immediately respond to a faxed request for comment. The new rules will pose a direct challenge to a business model that small- and mid-tier banks have been…
China’s ballooning debt is a major threat to global financial stability, IMF warns
Women dressed in ethnic costumes perform in an outdoor production called “Impression Lijiang”, held on a man made stage on the Jade Dragon Snow Mountain, 3,100m (10,170 feet) above sea level, near Lijiang city in…
China’s banks need more capital after credit boom
Zhou Xiaochuan, Governor of the People’s Bank of China, speaks during the 32nd Annual Group of 30 (G30) International Banking Seminar in Washington, DC, on October 15, 2017. / AFP CHINA’S banks should increase their…
IMF calls on China banks to boost capital after credit boom
The People’s Bank of China praised the report but disputed some elements, including the interpretation of the stress-test results. “We believe . . . that the (IMF’s) descriptions of the stress testing did not fully…
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