MANILA (Reuters) – Chinese President Xi Jinping has promised his Philippine counterpart that China would not build structures on a rocky outcrop both countries claim in the South China Sea, a Philippine government minister said…
Tagged By finance
China Biologic Reports Financial Results for the Fourth Quarter and Fiscal Year 2016
— 4Q16 Total Sales Up 13.6% YoY to $77.6 Million and Net Income Up 19.0% YoY to $19.4 Million in USD terms, or Total Sales Up 21.7% YoY and Non-GAAP Adjusted Net Income Up 40.7%…
Bank of China plans more Phl branches
MANILA, Philippines – Bank of China is looking at setting up more branches in the Philippines amid the improving bilateral trade and investment relations between Manila and Beijing. Deng Jun, country head of Bank of…
China commercial banks' profits rose 3.54 pct in 2016 – regulator
BEIJING Feb 22 China’s banking regulator said on Wednesday the commercial banking sector’s net profit rose to 1.65 trillion yuan ($240 billion) last year, a 3.54 percent increase from 2015. Chinese commercial banks’ weighted average…
China regulators set new rules for asset managers as debt fears grow
The rules, formulated by the central bank in conjunction with China’s securities, banking and insurance regulators, were the latest effort by the authorities to bolster their oversight of financial assets, including wealth management products (WMPs),…
China’s central bank leads charge to shine regulatory light on the risky business of shadow banking
China’s financial watchdogs are considering casting a huge new regulatory net over the country’s vast shadow banking sector. The central bank has spearheaded the drafting of new regulations to tame China’s 60 trillion yuan (HK$67.7…
China offers banks lure of lower reserves to get more money to ailing sectors
BEIJING China’s central bank said on Tuesday that it will extend a preferential scheme for some banks that will free up additional funds for lending, as long as they channel money to weaker, cash-starved sectors…
Economic Watch: China's central bank to walk fine line in multi-tasking operations
As China’s central bank has shifted to a prudent and neutral monetary policy, it will likely be more careful in balancing its multiple goals. (Xinhuanet file photo) BEIJING, Feb. 19 (Xinhua) — As China’s central…
Hang Seng Bank cuts risky China lending after full year profits fall 41pc
Hang Seng Bank said it has reduced risky lending in mainland China after it reported a 41 per cent slump in profits last year due to rising bad loans and lower fee income, factors weighing…
Another crack in China's financial stability
Last month, China’s foreign exchange reserves just fell below the psychological threshold of $3 trillion. The event got people talking about yet another worldwide financial firestorm. For Thailand, things could get even rockier than in…
China's Ant to invest $200 mln in Korea's Kakao Pay amid global push
SHANGHAI (Reuters) – China’s Ant Financial will invest $200 million in Kakao Pay, the mobile payment subsidiary of South Korean messaging platform giant Kakao Corp, extending a major push by the Chinese firm to create…
Guangdong banking regulator widens core debt for lenders to ease burden – sources
SHANGHAI Feb 21 China’s banking regulator is allowing banks in the southern Chinese province of Guangdong to count negotiable certificates of deposit with a tenor of more than 90 days as part of their minimum…
Exclusive – China's Sinochem may sell 40 percent stake in Brazil's Peregrino oilfield: sources
SINGAPORE/NEW DELHI/BEIJING (Reuters) – China’s Sinochem is exploring the sale of its 40 percent stake in Brazil’s Peregrino offshore oilfield, four people familiar with the matter told Reuters, a deal that could see the state-owned…
