BEIJING (REUTERS) – Chinese Finance Minister Xiao Jie on Tuesday (March 7) downplayed the lack of defence spending numbers in this year’s budget as there had been in previous years, saying there was no problem…
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China regulator asks banks to assess liquidity position, credit risks
SHANGHAI China’s banking regulator has asked banks to inspect how they monitor their liquidity positions and how much credit risk they are carrying, according to a notice seen by Reuters. The move comes amid concern…
China Unseats Eurozone as World’s Largest Banking System
New analysis by the Financial Times shows China’s banking system has overtaken the eurozone to become the world’s biggest by assets. The status reflects the country’s increasing global influence and its reliance on growth driven…
China's Banking System Hits $33 Trillion, Overtaking The Eurozone As World's Largest
Something historic, if largely unnoticed, took place at the end of 2016: China’s banking system surpassed that of the eurozone, becoming the world’s largest by assets, which according to the FT is a sign of…
Landmark ruling for Chinese bank can't be collected against Metro Vancouver homes
A Chinese bank has won a landmark ruling against a Chinese man who allegedly disappeared from China with an unpaid $10-million dollar loan in 2014, and quickly purchased four Vancouver-area homes. China CITIC Bank won…
Banking regulator advisor calls for vigilance on financial risks
a special advisor to China Banking Regulatory Commission, said Monday. Effective measures should be taken to oversee financial transactions and products yet to be covered by government regulation, Yang said at a press conference on…
Bank for International Settlements says Canada is showing early warning signs of financial crisis
That report said the country’s “unusually” elevated level posed a threat to the country’s banking system. China’s credit to GDP gap remains higher, at 26.3 per cent, according to Monday’s report, but Canada’s 17.4 per…
Banks worry over China's THAAD retaliation
According to sources Tuesday, five domestic banks ― KEB Hana, Shinhan, Standard Chartered Korea, the Industrial Bank of Korea (IBK) and Woori ― have payment guarantees extended to Lotte’s affiliates in China. The amount reportedly…
No defense spending number in China budget? No problem: finmin
BEIJING Chinese Finance Minister Xiao Jie on Tuesday downplayed the lack of defense spending numbers in this year’s budget as there had been in previous years, saying there was no problem with transparency in state…
Midas touch: China's tech, financial firms eye virtual gold rush
BEIJING/SHANGHAI (Reuters) – China’s virtual gifting market, typically the domain of plugged-in young consumers celebrating special occasions or flirting, is luring major financial institutions keen to boost trade of another auspicious commodity: gold. ( read…
China confirms seven percent increase in 2017 defence budget
BEIJING (Reuters) – A Finance Ministry official confirmed China’s defence budget will rise 7 percent in 2017, to 1.044 trillion yuan ($151.43 billion), state media said on Monday. The official Xinhua news agency gave the…
China's New Finance Minister Jie to Outline Tax Reforms
Mar.06 — Bloomberg’s Tom Mackenzie reports on what to expect from China’s new finance minster Xioa Jie who took office in November. Mackenzie speaks on “Bloomberg Daybreak: Asia.” ( read original story …)
China finance ministry releases $151 billion defense budget
BEIJING (AP) — China’s finance ministry said Sunday that the country’s defense budget this year will top 1 trillion yuan ($145 billion) for the first time, after the exact figure was initially kept out of…
