China Construction Bank (Malaysia) Bhd (CCBM) is the first foreign commercial bank to be granted a banking licence in Malaysia in six years. CCBM is the third China-based bank in Malaysia after the Bank of China (Malaysia) Bhd and Industrial and Commercial ... ( read original story ...)
Banks in Beijing raise mortgage rates further to cool property market
The Beijing News reported on Tuesday, the latest move to cool down the red-hot property market. Effective Monday, China Minsheng Bank, China's biggest private bank, adjusted mortgage rates to 10 percent above the benchmark mortgage rate for first-time home ... ( read original story ...)
China’s global plan for the yuan on track, in step with financial markets opening, bank says
China’s financial markets will continue their gradual pace of opening, a process in lock step with the ongoing internationalisation of the yuan, according to Yue Yi, chief executive officer of Bank of China (Hong Kong). “Restrictions in cross-border ... ( read original story ...)
China’s credit expansion cooled in May amid crackdown on shadow banking, analysts say
Broad credit growth in China is expected to have slowed in May, as the shadow banking industry came under closer scrutiny amid Beijing’s ongoing drive to cut leverage and root out irregularities in the financial industry, analysts said. Regulators have ... ( read original story ...)
China May data to show stable growth as exports stay solid
In sign of progress, China and the United States agreed in May to take action by mid-July to increase access for U.S. financial firms and expand trade in beef and chicken among other steps as part of Washington's drive to cut its trade deficit with Beijing. ( read original story ...)
China’s credit expansion probably cooled in May amid crackdown on shadow banking, analysts say
Broad credit growth in China is expected to have slowed in May, as the shadow banking industry came under closer scrutiny amid Beijing’s ongoing drive to cut leverage and root out irregularities in the financial industry, analysts said. Regulators have ... ( read original story ...)
Analysts expect ‘cautious’ response to Guangzhou Rural Bank’s US$1.1b IPO
Guangzhou Rural Commercial Bank (GRCB), China’s fifth biggest rural commercial bank by assets, is seeking a Hong Kong initial public offering worth up to HK$8.33 billion (US$1.1 billion). But some analysts are cautious about the interest level from Hong ... ( read original story ...)
China stocks fall despite fewer IPOs, big caps weigh
SHANGHAI, June 5 China's stocks fell on Monday, as a cooling pace of initial public offerings failed to offset large losses in financial and healthcare stocks. The blue-chip CSI300 index fell 0.5 percent, to 3,468.75 points, while the Shanghai Composite ... ( read original story ...)
PBOC regulating financial system
The People's Bank of China will put more regulations in place on financial systems and institutional arrangements to guarantee financial safety, its deputy governor said at a forum over the weekend. Chen Yulu, deputy governor of the central bank ... ( read original story ...)
KPMG: China now a fintech force
If KPMG is set to launch a compilation of top 50 financial technology or fintech companies in China, it indicates the new business segment has truly arrived and is poised for rapid growth, said Zhou Jun, vice-chairman of its China unit. The global audit ... ( read original story ...)