Imperfect internal control mechanisms in financial institutions, high bad debt and shadow banking have impact on the financial system, Guo Shuqing, chairman of the China Banking Regulatory Commission, told the newspaper People’s Daily in an…
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China tightens rules on insurers to fight local government debt risk
In a notice dated Jan. 8, the China Insurance Regulatory Commission (CIRC) and the Ministry of Finance said that while the purchase of local government bonds is encouraged, insurers must not provide financing to local…
China’s local government debt growth almost doubles in 2017
Local government debt expanded again in China last year despite Beijing’s pledge to rein in a growing national debt load that has sparked fears of a financial crisis in the world’s number two economy. The…
Lego partners with Tencent to create games and a social network for children in China
China is a bright spot for Lego, however, with revenues growing double-digit versus declines in the U.S. and parts of Europe in the first half of 2017, the last time it released financial figures The…
$260 billion ‘cryptocalypse’ as cryptos plunge 30 per cent amid fresh China, South Korea fears
China had already banned domestic exchanges and “initial … “guide” them towards an “orderly exit” from the country. Meanwhile, South Korea’s finance minister said a crackdown on cryptocurrencies was still a possibility, describing the current…
China says cross-border cash flows hit turning point in ’17
HONG KONG (AP) — Financial regulators in China say cross-border capital flows hit a turning point in 2017 as foreign currency reserve levels stabilized after two years of declines. Wang Chungying, a spokeswoman for China’s…
War on financial risk to continue
The war on financial risks will continue this year in China, with renewed efforts to crack down on shadow banking activities and further rectification of financial irregularities, said the head of the nation’s banking regulator.…
Opinion/Column: China may force a financial reckoning
Is China about to do the United States a big favor, however unwittingly? According to Bloomberg, China is considering whether to slow, or even stop, purchases of U.S. Treasuries. At $3.14 trillion, China holds the…
China tightens rules on insurers to fight local govt. debt risk
Beijing has taken a series of measures in recent months to rein in local government debt as part of a broader effort by Beijing to reduce financial risks in the world’s second-largest economy. A notice…
Will Indonesia’s ATM market follow the same path as China and India?
Will Indonesia’s ATM market follow the same path as China and India? Self-Service Banking Asia returns … For more information, please visit www.rbrlondon.com/ssba. Here at Fintech Finance, we work with renowned executives in the industry…
China must bring household debt under control, banking regulator says
China’s banking watchdog has publicly acknowledged that household debt levels are becoming a cause for concern. In an interview published in Monday’s People’s Daily, the official mouthpiece of the ruling Communist Party, Guo Shuqing, chairman…
Big portion of future GM electric vehicles for China market: executive
DETROIT (Reuters) – General Motors Co’s China unit will sell a “substantial portion” of the automaker’s future electric vehicles, GM China President Matt Tsien said on Wednesday. In a briefing at GM headquarters, Tsien said,…
Hong Kong needs more financial innovation to effectively tap Greater Bay Area opportunities
HNA Innovation Finance Group Zhang Yuge, China Development Institute’s director of Hong Kong and Macau Studies, said more local policies to promote economic cooperation between Hong Kong and the rest of the bay area were…
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