finance

China raised gasoline prices by around 3 percent in order to reduce deficits at the nation's two major refineries amid increasing international crude oil prices. "Starting from Oct 26, gasoline price increased by 230 yuan ($34.3) per ton and diesel by 220 yuan ($33) a ton," the ...
China UnionPay Co. Ltd. (CUP) on Friday began services that would allow Hong Kong residents to pay bills in Hong Kong for expenses incurred in the mainland city of Shenzhen using their CUP credit cards, China's central bank said. Starting on Friday, Hong Kong residents would be ...
More banks in Shanghai have halted third home mortgages while a stress test on a price slump is in the running as China beefs up risk control on home loans. The China Banking Regulatory Commission ordered banks in some areas to run a stress test to gauge the impact of a 50 ...
China Everbright Bank, which plans to raise up to 20 billion yuan (US$2.95 billion) in its initial public offering in Shanghai, said Friday it would launch an online road show next Monday to promote the issuing of its stock. The mid-sized lender has yet to officially announce its ...
The China Banking Regulatory Commission's (CBRC) plan to conduct stress tests on lenders to gauge the impact of a fall in property prices has triggered fresh concerns that the realty price dip may cast a shadow on the nation's economic growth. Banks were ordered to conduct stress ...
The China Securities Regulatory Commission plans to allow futures companies to start investment consulting operations, the Economic Observer reported Thursday. It said it is considering granting investment consulting licenses for qualified futures companies. Futures companies ...
China's insurance regulator issued detailed rules on Thursday governing how insurers invest their profits, which reiterated the ban on direct investment in property development and specified the ratio of funds that insurers could invest in new sectors such as unlisted companies. ...
Businesses rank regulation compliance and access to credit as the two top risks, according to a report Ernst & Young (E&Y) released Wednesday. The report is based on in-depth interviews with 70 executives and analysts across 14 industrial sectors globally. The E&Y respondents ...
Strategic investors have made a rush for China Everbright Bank's initial public offering shares, leading to a huge oversubscription and signaling strong demand for its potentially US$2.9 billion float and other offerings in the pipeline as stock markets recover. Thirty key ...
Central Huijin Investment Co, the domestic investment arm of China's sovereign wealth fund, is planning bond sales of over 190 billion yuan ($28.05 billion) in the next few months and will use the proceeds to fund major commercial lenders and export-oriented financial institution...
China Investment Corp has sold US$70.4 million shares of Morgan Stanley to cut its ownership of the investment bank to under 10 percent, according to a filing with the US Securities and Exchange Commission. China's US$300 billion sovereign wealth fund sold 2.6 million shares at ...
GF Securities Co plans to raise as much as 18 billion yuan (US$2.66 billion) in a private share placement to replenish working capital and expand its core businesses. The medium-sized brokerage will sell up to 600 million additional shares to at most 10 investors at more than 27...
Economists said new credit in July is expected to pick up but they're divided on future interest rate increases. New credit in July is expected to rise to 650 billion yuan (US$97 billion), Lu Zhengwei, an Industrial Bank economist, said. Media reports suggested the figure could ...
The recent rebound of the A-share market is likely to help revive China's securities brokerage industry, which performed poorly in the first half of the year. With investors getting excited about a stock market recovery, securities firms - particularly smaller and regional ...
China Construction Bank, China's second-largest lender, Friday said its rights issue plan had been approved in principle by the China Banking Regulatory Commission. It plans to offer a 0.7-for-10 rights issue to existing shareholders, according to a statement filed to the ...
After making major headlines in China and the US with its call in May to stop using UnionPay, Visa has become strangely mum on the issue. Don't miss: Visa to block UnionPay's int'l transactions China UnionPay fires back at Visa China's UnionPay expands Reports said that Visa ...
Banks in Beijing have begun charging customers for bank statements, the Beijing News reported. Although bank statements within a one month period for debit cards are still offered free, most banks charge from 5 to 20 yuan (US$0.7 to 3) for statements covering longer periods. ...
The insurance regulator might loosen the restrictions for insurers to invest in infrastructure projects, which could diversify the insurers' portfolios and give more funds to support public works. The China Insurance Regulatory Commission (CIRC) will discuss to lower the ...
China's foreign exchange regulator said Thursday that it will increase punishments for illegal foreign exchange activities. The move aims to help curb the hot money inflows and promote sound development of the foreign exchange management, the State Administration of Foreign ...
About 15 Chinese banks are expected to start business in the United Kingdom, industry watchers said Wednesday. The Industrial and Commercial Bank of China and China Construction Bank already opened UK offices. "Chinese banks are coming to UK for access to the capital market so ...
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China's reform leading group holds first meeting
China's reform leading group holds first meeting
BEIJING, Jan. 22 (Xinhua) -- China's leading group for overall reform ...
China stocks close higher over liquidity injection
China stocks close higher over liquidity injection
BEIJING, Jan. 21 (Xinhua) -- Chinese shares rose on Tuesday after the ...
China slams Japan's NHK governor's denial of Nanjing massacre
China slams Japan's NHK governor's denial of Nanjing massacre
BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...
China cuts retail oil prices
China cuts retail oil prices
BEIJING, Jan. 24 (Xinhua) -- China's top economic planner announced on ...
Canada's main stock index tumbles over asset loss in emerging markets
Canada's main stock index tumbles over asset loss in emerging markets
TORONTO, Jan. 24 (Xinhua) -- Canada's main stock index fell sharply on ...
GM China chairman to retire
GM China chairman to retire
CHICAGO, Jan. 24 (Xinhua) -- General Motors Co. announced Friday that ...
Super car club in commercial drive
Super car club in commercial drive
On the night of Nov 11, more than 150 super cars were driven into the ...
China's banks must evolve or perish
China's banks must evolve or perish
As China's traditional banks raise interest rates to claw back lost ...
Chinese leader calls for more marine power
Chinese leader calls for more marine power
Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...
Stars 'Big Three' fall short of title in 1st year
Stars 'Big Three' fall short of title in 1st year
Miami Heat's LeBron James (R) stands with teammates Chris Bosh (C) and ...
Injured star short-track skater Wang Meng left out of China's squad for Sochi
Injured star short-track skater Wang Meng left out of China's squad for Sochi Winter Games
Injured Olympic champion Wang Meng has been ruled out of the 139...
Fourteen countries expected to compete in Cuba's wrestling tourney
Fourteen countries expected to compete in Cuba's wrestling tourney
Some 14 countries and regions are expected to compete in the 45th ...