A senior banking regulator said last month that China’s recent steps to control financial risks have gained traction as some riskier businesses carried out by banks have been contained. The People’s Bank of China switched…
Tagged By finance
Exclusive: Ant Financial refiles for U.S. approval of MoneyGram deal – sources
(Reuters) – Ant Financial, the affiliate of China’s Alibaba Group Holding Ltd (BABA.N) that agreed to buy money transfer company MoneyGram International Inc (MGI.O) for $1.2 billion, has resubmitted the deal for U.S. review, people…
China trial paves way for ‘unhackable’ communications network
The local government of Jinan, a city in eastern China, told the Financial Times on Monday that its departments would begin using the network by the end of August. “We plan to use the network…
Overseas deals in the cross hairs at Beijing’s key financial policy meeting, sources say
Financial risk stemming from ambitious outbound investments will go under the microscope at a key financial policy meeting in Beijing in the middle of this month, sources close to the government told the South China…
China May Give Central Bank Key Role in Financial Oversight
China is considering handing the nation’s central bank a key role in coordinating financial oversight, in order to focus efforts on reining in risk in the sector, people familiar with the discussions said. The move,…
Banking reform in China: Too little, too late?
China’s economic expansion requires a responsive and responsible banking system to keep money flowing. This means financial reform in how China does business or else face severe financial implications having global consequences. China’s economy has…
China Rapid Finance Exceeds 20 Million Cumulative Loan Milestone
SHANGHAI, July 10, 2017 /PRNewswire/ China Rapid Finance Limited (“China Rapid Finance” or the “Company”) (NYSE: XRF), a leading online consumer lending marketplace, today announced that it has achieved a new milestone of 20 million…
China Rapid Finance: 20 Million in Cumulative Loans Facilitated Since Marketplace Lending Platform Inception
China Rapid Finance announced on Monday it has exceeded 20 million cumulative loans facilitated since its marketplace lending platform launch. According to the lender, this new milestone demonstrates accelerating the growth of its consumer marketplace…
How one city’s borrowing practice highlights China’s daunting financial risks
China’s finance ministry was technically correct when it reacted to a sovereign debt rating downgrade in May by saying the debts of local government financing vehicles (LGFVs) and state-owned enterprises would not swell the government’s…
China’s Bond Trading Takes on a New Twist
On a recent morning in Shanghai’s Lujiazui financial district, Xiong Yun’s eyes darted around the four computer screens at his desk, scanning activity in China’s bond and futures markets. Staring at the matrix of numbers,…
Stripe strikes global partnerships with China’s Alipay, WeChat Pay
Stripe hopes the integration will help boost its revenues by allowing clients to tap China’s vast consumer market, where credit cards account for only a fraction of online spending, the company said. Alipay is the…
What South Korea’s 1997 Meltdown Can Teach China in 2017
In China an authoritarian regime has sacrificed financial rationality to prop up the unsustainable growth rates that give the Communist Party its legitimacy. What China really requires is the state’s withdrawal from the economy, to…
Crown judgment reveals casino group’s $875m China windfall
Mr Scott said a casino’s theoretical win rate was around 2.5 per cent of rolling chips, which meant mainland China generated $875 million in VIP revenue for the casino group last financial year, based on…
