SHANGHAI (Reuters) – China’s banking regulator plans to reduce the amount of funds that banks must set aside to cover bad loans, two sources with direct knowledge of the situation said on Tuesday. The China…
Tagged By financials
Urgent rates decision likely to face next head of China’s central bank
SHANGHAI/BEIJING (Reuters) – China’s central bank will probably have to respond to an expected U.S. interest rate rise at a particularly sensitive time later this month. Zhou Xiaochuan, the long-serving People’s Bank of China (PBOC)…
Beijing sets softer growth target with eye on financial risks and economic restructuring
Beijing has set a lower economic growth target for this year than the 6.9 per cent achieved last year as it keeps an eye on global trade uncertainties and long-term financial risks and seeks new…
As Western banks leave, China adds Brunei to new silk road
HSBC pulled out of Brunei last year, while Citibank exited in 2014 after 41 years. Bank of China, meanwhile, opened its first branch in the sultanate in December 2016. The Muara Besar project is promising…
China keeps growth target at 6.5 percent, stays focused on financial risks
BEIJING (Reuters) – China aims to expand its economy by around 6.5 percent this year, the same as in 2017, while pressing ahead with its campaign to reduce risks in the financial system, Premier Li…
China’s Financial Reach Leaves Eight Countries Vulnerable, Study Finds
China is emerging as a massive creditor to its economic allies taking up projects to upgrade roads, harbors and airports, making it an increasingly important financial influence on the world stage. China is financing as…
China to Recruit Civilian Astronauts
China will begin recruiting civilian astronauts for its military-backed space program and plans to increase the number of crewed missions to around two a year, a top official with the country’s space program said. China’s…
China says must control money supply to combat financial risk
BEIJING (Reuters) – China must strengthen regulatory oversight and control the overall amount of money supply to guard against mounting financial risks in the economy, a top economic official said on Sunday. Yang Weimin, the…
Too little, too late? Foreign bankers fall out of love with China as Beijing fails to open up
Banking is a litmus test for the broader Chinese economy. For decades, Beijing took it for granted that overseas investors would be waiting at the gates, keen for a share of a massive market. But…
As Xi Jinping consolidates power in CPC, China’s parliament prepares to ward off financial risks
Beijing: China’s annual parliament gathering kicks off on Monday as an ever-stronger President Xi Jinping presses ahead with efforts to ward off financial risks without undermining the economy. The run-up to the National People’s Congress…
Citic Bank Suspends Mortgages in Beijing
(Beijing) — China Citic Bank Corp. has stopped offering mortgage loans larger than 2 million yuan ($315,390). The suspension is another sign that banks are taking a more cautious stance toward the real estate market…
Financial regulatory reform to be expanded
Experts are expecting more new rules to be discussed as legislators and political advisers meet in Beijing. Financial risk prevention will be one of the key topics for the sessions of the National People’s Congress…
Bank halts home equity loans in Beijing
A Chinese bank has reportedly suspended home equity loans in Beijing, as such loans have came under strict scrutiny by officials in their efforts to rein in the overheated real estate market. China CITIC Bank…
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