(ECNS) — The Beijing branches of China’s big four banks have raised the mortgage rates for first-time home buyers in the capital city. All four lenders—Industrial and Commercial Bank of China, China Construction Bank, Agricultural…
Tagged By financials
China Merchants Bank accused of US discrimination
A former senior banker at China Merchants Bank is suing her ex-employer and three of its top executives, claiming she was fired from the New York office after complaining about discriminatory lending practices. Xin Wang,…
China Merchants Bank Is Accused of Racial Discrimination in Suit
China Merchants Bank Co. was accused of discriminating against African-Americans in a lawsuit filed on behalf of a former executive who claims she was fired for blowing the whistle on its conduct. The Shenzhen, China-based…
China Plans New Risk-Management Rules for Financial-Services Firms
China is drafting new rules to rein in businesses offering multiple financial services after runaway growth in recent years has left regulators without a firm handle on their risks to the economy. Officials at the…
China’s New Systemic Risk Rules May Curb Giant Ant Financial
There’s no other company on Earth quite like Ant Financial. Spanning online payments, insurance, lending, credit scores, asset management and more, Jack Ma’s Chinese behemoth resembles a mashup of PayPal, Geico, Wells Fargo and Equifax…
Opening of China’s Financial Sector Offers Opportunities, Risks
China’s $42 trillion financial sector is set to open up to the world like never before. To deliver on longstanding pledges and help stave off the threat of tariffs from U.S. President Donald Trump, Chinese…
Jack Ma’s Ant Financial adds two new money market funds to its platform
The two new funds do not have any subscription caps, it said. Yu’e Bao is an online spare cash management platform integrated with Ant Financial’s payment app Alipay, one of China’s largest digital payment platforms.…
China central bank skips open market operations
The People’s Bank of China (PBOC) is seen in this file photo taken in Beijing. [Photo/Xinhua] BEIJING – China’s central bank suspended open market operations on Tuesday for the second working day as liquidity remained…
China’s central bank says will further push forward yuan internationalisation
BEIJING (Reuters) – China’s central bank said on Tuesday that it will further push forward yuan internationalisation this year and expand the cross-border use of the Chinese currency. ( read original story …)
People’s Bank of China to push yuan global use ‘to a new level’
People’s Bank of China to push yuan global use ‘to a new level’ China will continue to expand cross-border use of its domestic currency, the yuan, this year, the central bank says. The global use…
China to expand cross-border RMB use
BEIJING – China will continue to expand cross-border use of its currency Renminbi, or yuan, this year, according to the central bank. The global use of the Chinese yuan is one highlight of China’s financial…
Major commercial banks raise Beijing mortgage rate
The Beijing branches of the Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, and Bank of China have decided to lift their floor mortgage rates for first-home purchasers from 1.05…
AMP plays down talk of China Life deal
Embattled wealth manager AMP has played down references in its board minutes released by the banking royal commission to exploring a deal with one of the world’s biggest insurers, China Life. The minutes of AMP’s…
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