China is embarking on a financial highwire act. At the top of regulators’ agenda in China for 2017 is a campaign to wean the nation’s sprawling financial system off cheap borrowing and rising credit levels.…
Tagged By financials
China’s First FinTech Angel Fund
China today witnesses the founding of FinPlus, the country’s first angel fund and accelerator that focuses on investing in startups that feature financial technology (FinTech). Fugel Holding, the company that is backing FinPlus, decided to…
IGM Financial makes bold bet on China with latest deal
IGM Financial Inc. is taking a stake in one of China’s largest investment managers in a bid to tap into the Asian country’s burgeoning base of savers and investors. Mackenzie Financial Corp., IGM’s subsidiary, will…
China central bank raises requirements for cash and overseas transactions
Dec 29 The People’s Bank of China (PBOC) rejected a media report that the yuan broke the 7.0000 per dollar level in the onshore market on December 28, the Chinese central bank said on its…
China's money rates rise over the year as c.bank tightens liquidity
SHANGHAI, Dec 30 China’s primary money rates rose this week and were largely higher this year, driven by the central bank’s tight liquidity stance in the second half aimed at curbing bubbles and reducing leverage…
China central bank says to keep policy neutral, liquidity stable
BEIJING China’s central bank said on Friday that it would keep its monetary policy neutral and “neither too tight nor too loose” to help maintain stable liquidity conditions. At a key economic meeting this month,…
Man with ties to Canadian bank serves tiny taste of life among China's nouveau riche
Wandering into the gated apartment complex 200 kilometres southeast of Beijing, I knew almost nothing about the man I was looking for. I knew his name, Xu Chang’an. I knew he had signed as a…
Another Chinese tech giant is launching an online bank
Best known for its smartphones, Xiaomi will own around 30% of the new bank. The Chinese regulator is encouraging the launch of new banks. In 2014, the China Banking Regulatory Commission (CBRC) started handing out…
Across China: More private banks in pipeline
BEIJING, Dec. 30 (Xinhua) — Historically, China’s banking sector has been dominated by a few colossal state entities, but the tone has changed and market-oriented private banks are springing up in response to needs that…
China’s central bank on levers to buoy the yuan
China enhanced its ability to stabilise its currency, as the rising US dollar threatens to undermine its economy, by accelerating the flow of capital out of the country. China’s central bank is adjusting the mix…
China economy improving, rate hike a possibility – People's Bank of China adviser
While inflation is showing signs of picking up in China along with economic activity, economists say there is no immediate pressure on the central bank to raise rates. BEIJING: Interest rates in China are already…
China's banking industry sees growing external assets
BEIJING – China’s banking industry recorded more external financial assets by the end of September compared with the second quarter, according to official figures. China’s banking industry, excluding the central bank, reported external financial assets…
China economy improving, rate hike a possibility – central bank adviser
BEIJING Interest rates in China are already on an upward trend as the economy improves, People’s Bank of China (PBOC) adviser Sheng Songcheng told Reuters in an interview. “The economy is improving…so interest rates and…
