While China has embraced Western-style consumerism, its financial sector remains a bog, unable to satisfy the banking, insurance, and retirement needs of its growing middle classes. Technically, the mild-mannered Yi was just setting a more explicit ... ( read original story ...)
World Bank aims for 100% access to financial services
Jim Yong Kim, World Bank president. Photo provided to China Daily World Bank Chief Jim Yong Kim said on Thursday that he expected the progress and innovation in improving financial access in China will also happen in other countries, so that financial ... ( read original story ...)
Analysis: More China bank reserve cuts on the cards as PBOC seeks to prevent slowdown
BEIJING (Reuters) - The unexpected decision by China’s central bank to cut the amount of cash that lenders must keep in reserves is unlikely to be its last such move given the growing concerns about a possible trade war with the United States ... ( read original story ...)
BRIEF-China Oceanwide International Financial Announces Investment Management Agreement For Setting Up Of Fund
* CHINA OCEANWIDE INTERNATIONAL FINANCIAL-TO PROVIDE CORPORATE GUARANTEE TO GUARANTEE GUARANTEED OBLIGATIONS IN FAVOUR OF INVESTORS OF UP TO HK$1.64 BILLION Source text for Eikon: Further company coverage: Our Standards:The Thomson Reuters Trust Principles. ( read original story ...)
China will curb financial irregularities from the root – regulator
BEIJING (Reuters) - China’s banking and insurance regulator said in a statement on Friday it will curb financial irregularities from the root. ( read original story ...)
Finance Chiefs Told Trade Tensions Are Hitting Confidence
That’s the message being conveyed to finance ministers and central bankers from around ... The U.S. argues China needs to lower its barriers to imports and foreign investments, while Beijing is criticizing President Donald Trump’s threats to levy ... ( read original story ...)
China’s ZTE slams U.S. ban on sales, says company’s survival at risk
HONG KONG (Reuters) - China's ZTE Corp (HKSE:0763.HK - News) (Shenzhen:000063.SZ - News) said on Friday that a ban on the sale of parts and software to the company was unfair and threatens its survival, and vowed to safeguard its interests through all ... ( read original story ...)
U.S., U.K.join forces on financial regulation
So our own producers are concerned.” U.S.-China Trade Spat a Glitch, Sri Lankan Says (11:39am) Sri Lanka’s junior finance minister, Eran Wickramaratne, is among those who expect a resolution to the U.S.-China trade tensions. Instead of snowballing into ... ( read original story ...)
IMF warns shadow banking poses high risk to China’s financial stability
China has been urged by the International Monetary Fund to address threats to its financial system by increasing oversight of shadow banking from unregulated lenders and exercising tighter control of the fast growing insurance sector. The IMF said ... ( read original story ...)
IMF presses China to do more to reduce its ‘high’ financial stability risks
China’s banking system is tightly linked to the shadow banking sector through its exposure to off-balance-sheet investment vehicles, the IMF said. The International Monetary Fund on Wednesday urged China to do more to reduce the danger of potential ... ( read original story ...)