Noting progress in inclusive financial service improvement over the past years, Guo said during an inspection to the Industrial and Commercial Bank of China that there were still issues such as lengthy decision-making process and…
Tagged By finance
China unlikely to see mid-year liquidity crunch: newspaper
China is highly unlikely to see a mid-year liquidity crisis this year, and there will be no repeat of the “unusual market fluctuations” seen in June 2013, a central bank-affiliated newspaper said. In an editorial…
China urges banks to devolve loan approval responsibility to boost lending
SHANGHAI China’s banking regulator has urged lenders to devolve responsibility for loan approvals in order to boost credit to small and micro businesses, but also emphasized that risks need to be kept under control. Guo…
Beijing’s first private bank set to open
The Beijing office of China’s banking regulator on Tuesday approved the opening of Zhongguancun Bank, the capital’s first private financial institution. It will be the 13th such bank granted permission to operate in the country.…
China’s campaign to ease corporate costs will hit fiscal revenue: finance ministry official
BEIJING China’s efforts to cut taxes and fees on companies will hurt government revenues, but increased economic activity generated by a lighter cost burden will help keep overall state finances stable, a finance ministry official…
China can’t fix its financial problems by debt cutting alone, economists say
The push for real economic reforms remains a key challenge facing President Xi Jinping during his second term, as structural improvements beyond debt reduction are needed to contain China’s financial risks, chief economists of China’s…
Australian Politics Is Open to Foreign Cash, and China Has Much to Gain
opaque campaign finance system. By contrast, such donations are largely banned in the United States, Canada and throughout most of Europe. “It’s not so much that China is more active but that Australia is more…
China’s CITIC Bank approves deal for stake in Kazakh lender
SHANGHAI China’s CITIC Bank Corp Ltd (601998.SS) said late on Wednesday its board had approved a deal to buy a 60 percent stake in Kazakhstan’s Altyn Bank, a subsidiary of Halyk Bank HSBK.KZ(HSBKq.L), the country’s…
China bond finance hits record low as market rout hammers demand
Chinese corporate bond financing hit a record low in May, as a market rout discouraged new issuance while a wave of previously issued notes came due. The combination of tight liquidity and a regulatory crackdown…
A financial crisis in China could also take down Australia
Australia managed to survive the global financial crisis with the help of a huge stimulus program from China. Chinese demand for Australian minerals prevented our economy from tanking. However, almost a decade later, doubts have…
China May imports, exports unexpectedly speed up but seen fading
Concerns over China landed squarely back on global investors’ radar after Moody’s Investors Service downgraded its credit rating last month, saying it expects the country’s financial strength will erode in coming years as growth slows…
China’s central bank is trying to steal a march on the US Fed, by boosting the yuan
The Chinese central bank is perfectly sensible in making preparatory moves well ahead of any likely rise in US interest rates in the middle of this month, analysts agree, by strengthening the yuan in an…
Trusting an accountant with Hong Kong’s finances speaks volumes of Beijing’s priorities
one step below the post of Financial Secretary. A third nominee decided to bypass Lam and volunteer his service to Beijing, betting that his financial expertise and strong personal ties with Chinese leaders will land…
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