Beijing, Nov 28 (Prensa Latina) China and France will engage this week in a fifth high-level dialogue on Economy and Finance as part of the visit here of French Minister of the sector, Bruno Le…
Tagged By finance
China’s economy still facing relatively large downward pressure: banking regulator
BEIJING (Reuters) – China’s economy is still facing relatively large downward risks that may become apparent by early 2018, a senior official of the banking regulator said on Wednesday. Yu Xuejun, head of the China…
China Development Bank Files Insolvency Suit Against RCom
China Development Bank, which lent close to $1.78 billion to Reliance Communications (RCom), has filed an insolvency suit at the National Company Law Tribunal’s (NCLT’s) Mumbai bench after it defaulted on loans. Indian lenders would…
China Development Bank Drags Indian Telco to Bankruptcy Court
With the filing of the insolvency notice, all of the hopes beleaguered Reliance Communications had for an out-of-court settlement have been dashed. No potential buyer has approached the Indian Telco, which owes the China Development…
Chinese State Bank Adds Pressure to Debt-Laden Indian Wireless Carrier
The debt woes of one of India’s leading wireless carriers Reliance Communications Ltd. have deepened this week thanks to an unlikely new source of pressure—a leading state-owned Chinese bank. It emerged late Monday that China…
Forget cash, face scanning is the new wallet in China
Chinese banks dealt with 8.6 billion payments from mobile services in Q2, up 40.5 percent from a year ago, the People’s Bank of China said. The combined value of mobile payments jumped 33.8 percent to…
China’s financial groups opened to foreign owners
Courtesy demands reciprocity, as the Chinese saying goes. US president Donald Trump was effusively courteous during his visit to China last week, at one point describing Xi Jinping, his Chinese counterpart, as a “very special…
ICBC Teams Up With JD.com to Offer Digital Banking Services
Customers will be able to request credit services such as proof-of-deposit slips through the online platform, the Beijing-based bank said in a statement Monday. The logistics unit of JD.com will deliver the documents to the…
Beijing Rage Over Child Abuse, Evictions Shows Pressure on Xi
Volunteer networks have sought to provide shelter and food to migrants. Beijing is shifting its economy into higher value industries including technology and finance, and is striving to improve its living environment to attract top…
Beijing is Making Its Most Serious Effort Yet to Tackle Its Financial-System Issues
Beijing is coming to grips with its Wild West-like financial system—not a moment too soon, many would argue. The jittery market reaction shows just how delicate that operation is going to be. The timing isn’t…
BRIEF-China Rongzhong Financial Holdings Co Says HY Net Loss Attributable HK$189.3 Mln
* HY NET LOSS ATTRIBUTABLE TO OWNERS OF COMPANY OF HK$189.3 MILLION VERSUS PROFIT HK$39.1 MILLION Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com) Our Standards:The Thomson Reuters Trust Principles. ( read original story …)
China clamping down on vast shadow banking sector
If the latest clampdown on shadow banking proves too destabilizing to the financial markets, Beijing may even undermine its own efforts in order to prevent the social unrest that it fears. ( read original story…
China’s debt is growing at a faster pace despite years of efforts to contain it
Without a comprehensive strategy to tackle the overhang, there is a growing risk China will have a banking crisis or sharply slower growth or both, the International Monetary Fund said last year. China’s central bank…
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