Bank of Beijing Consumer Finance Company, which was established in 2010 with the hope of finding a business model for consumer credit in China, was fined nine million yuan (US$1.37 million) for “seriously violating prudent…
Tagged By finance
China virtual currency events moved or delayed as central bank bans digital coin fundraising
Two conferences on cryptocurrencies and related technologies in China’s capital Beijing have been abruptly moved or delayed while a third in a provincial city has been cancelled, on the same day as the central bank…
China central bank says initial coin offerings are illegal
BEIJING (BLOOM BERG) – China’s central bank said that initial coin offerings are illegal and have asked all related fund-raising activity to be halted immediately, according to a notice from the regulator. The People’s Bank…
Bank of Singapore growing fast thanks to Hong Kong
The Bank of Singapore, the private banking arm of OCBC, has experienced rapid growth by aggressively expanding its presence in Hong Kong and other cities in Greater China. “Greater China has been the main driver…
China bans initial coin offerings as illegal fundraising
BEIJING (Reuters) – China’s on Monday banned individuals and organizations … citing data from a government organization that monitors online financial activity. ( read original story …)
China’s big banks improve profitability as smaller lenders lag
But smaller, national and regional lenders — which control about a third of China’s banking assets — are still feeling the strain, hit by a regulatory crackdown on risky activity that has made it difficult…
China Needs Rapid Growth to Ease Huge Debt Bubble
When it stops growing it collapses.” China has lots of first-rate infrastructure and talented people. But a financial crisis there would surely do damage to the world economy, including the US. Better for China to…
China’s Internet Finance Association Issues ICO Warning
A self-regulatory organization focused on online finance in China has issued a warning to its members on initial coin offerings (ICOs). In a statement yesterday, the National Internet Finance Association of China warned that ICOs…
UPDATE 1-China’s property market is a major source of financial risk – c.bank official
… market has become a major source of financial risk and Beijing cannot rely on adjustments to monetary policy alone to resolve the “serious” problems caused by the sector, a central bank official wrote on…
RPT-UPDATE 1-China’s c.bank bans longer-tenor NCDs to close bank funding loophole
SHANGHAI/BEIJING, Aug 31 (Reuters) – China’s central bank has barred financial institutions from issuing certain kinds of interbank loans as a funding loophole, as it continues to keep a tight grip on the potential for…
China’s central bank bans new issuance of long-term NCDs
BEIJING, Aug 31 (Reuters) – China’s central bank said on Thursday financial institutions are not allowed to issue inter-bank negotiable certificates of deposit (NCD) with a tenor exceeding one year from Sept. 1. NCDs with…
Diverging paths: As China’s big banks improve, smaller lenders lag
But smaller, national and regional lenders – which control about a third of China’s banking assets – are still feeling the strain, hit by a regulatory crackdown on risky activity that has made it difficult…
AP Exclusive: China accuses outspoken tycoon in US of rape
The Chinese officials’ disclosures to the AP — an unusual move given the political sensitivity of Guo’s case in China — underscores Beijing’s urgent effort to not only bring a fugitive to heel on criminal…
