finance

China's central bank warned about the risk of credit card related bad debt on Thursday as money owed 180 days past the due date was on the rise in the third quarter. Credit cards debt 180 days past the due repayment date stood at 7.92 billion yuan (1.19 billion U.S. dollars) by ...
The Industrial and Commercial Bank of China fell by the 10 percent daily cap in Shanghai trading yesterday after it resumed trading following a week's suspension for a rights issue. Shares of the world's most valuable lender have been suspended from trading since November 16 for ...
The Chinese government is expected to set a lower target for new lending for 2011 than the 7.5 trillion yuan (US$1.13 trillion) for this year as it strives to combat price hikes, experts said. Wang Jun, a researcher with the China Center for International Economic Exchanges, ...
A statement of China's central bank said Wednesday that the country would continue using multiple monetary policy tools to enhance liquidity management and guide the money and credit growth back to normal. The statement by Hu Xiaolian, a deputy governor of the People's Bank of ...
China UnionPay (CUP) and SIX Multipay, the biggest Swiss card-payment company declared on Monday a joint program that enables Swiss merchants to accept payments from credit cards or debt cards issued by CUP. The program, which includes payment system upgrading and promotion of ...
Deloitte said its China and United States firms had formed a joint venture to strengthen consulting practices to ride on the rising demand in the two key markets. The collaboration will be part of the firm's expansion strategy in China, one of the priority markets for Deloitte ...
The Osaka branch of the Industrial and Commercial Bank of China (ICBC) formally opened Friday to the public for business in Odosuji Road, Osaka, the second branch of ICBC in Japan since the opening of Tokyo branch in 1997. General Manager of ICBC Tokyo branch Song Ning said at ...
Spanish bank BBVA announced Wednesday that it has signed a yuan-trade settlement with China CITIC Bank, which holds a 15-percent stake in BBVA, Caixin.com reported. BBVA is the first Spanish bank to provide yuan-trade settlement service to corporate and commercial clients. BBVA ...
Guoxin Asset Management Company, also referred to as China Investment Corporation No 2, may be established before the end of the year, said sources from the State-owned Assets Supervision and Administration Commission (SASAC). With a focus on restructuring the country's central ...
China Construction Bank Monday said in a filing to the Shanghai Stock Exchange that its rights offer of yuan-backed A shares was 94.23 percent subscribed. The bank earlier said it plans to raise 61.7 billion yuan (US$9.2 billion) in the biggest rights offer in Asia this year as ...
BNY Mellon Western Fund Management Co, an equity fund venture jointly set up by the world's largest custody lender - Bank of New York Mellon Corp (BNY Mellon) and China's Western Securities, officially began operations on Monday, and plans to launch its first fund product as ...
Development of Chinese private equity (PE) funds has topped the list in Asia in terms of scale and speed of introduction to the market, said Liu Lefei, rotating chairman of Beijing Private Equity Association. Liu, also chairman and chief executive of Citic Private Equity Funds ...
China's top four banks on Monday rejected reports that they would stop lending to real estate developers for the remainder of the year. The press offices of the four state-owned banks, the Industrial and Commercial Bank of China, China Construction Bank, Bank of China, and the ...
The Industrial and Commercial Bank of China, the country's biggest lender, and China International Capital Corp, a joint venture run primarily by Central Huijin Investment Ltd, are said to be among banks helping General Motors with its initial public offering. This is the first ...
China's four biggest banks have stopped extending new credit to developers for the rest of the year, while the total credit available to property firms will be cut by 20 percent next year. The Industrial and Commercial Bank of China, China Construction Bank, Bank of China and ...
Industrial and Commercial Bank of China (ICBC), China's largest lender by assets, said Thursday it will raise up to 45 billion yuan (US$6.79 billion) through a dual rights issue in Shanghai and Hong Kong to boost its capital base. ICBC's move to shore up its capital base came on ...
China's banking regulator will strengthen county-level financial services by expanding capital-raising channels and promoting financial innovation in order to support economic development, a senior official said Sunday. Jiang Dingzhi, vice chairman of the China Banking Regulatory ...
The China Banking Regulatory Commission (CBRC) has recently ratified the opening of five branches of five Taiwan-based commercial banks on the Chinese mainland, said a CBRC official Friday in Beijing. The branches are the Shanghai Branch of Taiwan First Bank, the Shanghai Branch ...
China's central bank governor, Zhou Xiaochuan, said Friday that the country would promote liberalization of interest rates during the next five years. China will make "obvious progress" in interest-rate liberalization during the 12th Five-Year Plan period, which runs from 2011 to ...
China's securities regulator Friday pledged to continue to strengthen measures to prevent insider trading and market manipulation in order to protect investor interests. Shang Fulin, chief of the China Securities Regulatory Commission (CSRC), said at a business forum in Beijing ...
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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 ...