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 licenses to more private banks as ... ( read original story ...)

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 state-owned dinosaurs are simply ... ( read original story ...)

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 of foreign currencies used in setting the ... ( read original story ...)

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 of ... ( read original story ...)

China policymakers pledge stability for 'complex' year ahead

"At present, China's economic and financial operations are generally stable, but the complexity of the situation cannot be underestimated," the People's Bank of China (PBOC) said. Bank lending is on pace to top 2015's record 11.71 trillion yuan ($1.7 ... ( read original story ...)

China to relax curbs on foreign investment in financial sector

BEIJING China unveiled plans on Friday to allow more foreign investment in banking, insurance, securities and credit-rating firms, as part of a wider opening up of the world's second-largest economy. The moves could ease some frustration among foreign ... ( read original story ...)