Feb. 24–CHINA Banking Corp. said it plans to conduct a rights issue to raise up to P15 billion in fresh funds to support its growth initiatives. “The bank expects to raise proceeds of up to…
Tagged By financials
Beijing cements South China Sea land grab with missile defense sites while the world awaits US response
(China’s HQ-9 missile defense system.Defence.Pk Frorums) New satellite photography from the South China Sea confirms a nightmare for the US and champions of free navigation everywhere — Beijing has reinforced surface-to-air missiles sites in the…
China promises not to build in disputed shoal – Philippines
MANILA (Reuters) – Chinese President Xi Jinping has promised his Philippine counterpart that China would not build structures on a rocky outcrop both countries claim in the South China Sea, a Philippine government minister said…
China Biologic Reports Financial Results for the Fourth Quarter and Fiscal Year 2016
— 4Q16 Total Sales Up 13.6% YoY to $77.6 Million and Net Income Up 19.0% YoY to $19.4 Million in USD terms, or Total Sales Up 21.7% YoY and Non-GAAP Adjusted Net Income Up 40.7%…
Bank of China plans more Phl branches
MANILA, Philippines – Bank of China is looking at setting up more branches in the Philippines amid the improving bilateral trade and investment relations between Manila and Beijing. Deng Jun, country head of Bank of…
China commercial banks' profits rose 3.54 pct in 2016 – regulator
BEIJING Feb 22 China’s banking regulator said on Wednesday the commercial banking sector’s net profit rose to 1.65 trillion yuan ($240 billion) last year, a 3.54 percent increase from 2015. Chinese commercial banks’ weighted average…
China regulators set new rules for asset managers as debt fears grow
The rules, formulated by the central bank in conjunction with China’s securities, banking and insurance regulators, were the latest effort by the authorities to bolster their oversight of financial assets, including wealth management products (WMPs),…
China’s central bank leads charge to shine regulatory light on the risky business of shadow banking
China’s financial watchdogs are considering casting a huge new regulatory net over the country’s vast shadow banking sector. The central bank has spearheaded the drafting of new regulations to tame China’s 60 trillion yuan (HK$67.7…
China offers banks lure of lower reserves to get more money to ailing sectors
BEIJING China’s central bank said on Tuesday that it will extend a preferential scheme for some banks that will free up additional funds for lending, as long as they channel money to weaker, cash-starved sectors…
Economic Watch: China's central bank to walk fine line in multi-tasking operations
As China’s central bank has shifted to a prudent and neutral monetary policy, it will likely be more careful in balancing its multiple goals. (Xinhuanet file photo) BEIJING, Feb. 19 (Xinhua) — As China’s central…
Hang Seng Bank cuts risky China lending after full year profits fall 41pc
Hang Seng Bank said it has reduced risky lending in mainland China after it reported a 41 per cent slump in profits last year due to rising bad loans and lower fee income, factors weighing…
Another crack in China's financial stability
Last month, China’s foreign exchange reserves just fell below the psychological threshold of $3 trillion. The event got people talking about yet another worldwide financial firestorm. For Thailand, things could get even rockier than in…
China's Ant to invest $200 mln in Korea's Kakao Pay amid global push
SHANGHAI (Reuters) – China’s Ant Financial will invest $200 million in Kakao Pay, the mobile payment subsidiary of South Korean messaging platform giant Kakao Corp, extending a major push by the Chinese firm to create…
