finance

HSBC Bank has offered renminbi settlement for Indian importers, said Stuart Davis, CEO of HSBC in India. Speaking on the sidelines of a bankers' conference in Mumbai, Davis told Xinhua that the deals are medium-sized and it will take time to gain liquidity in this regard. The ...
China may contribute $8 billion to establish Shanghai Cooperation Organization (SCO) Development Bank, the 21st Century Business Herald reported Thursday. The proposed fund to establish the bank could be as large as $10 billion. China would be the main investor, and the remainder ...
China's Ministry of Finance said Wednesday it would sell 32.1 billion yuan ($4.8 billion) of five-year book-entry treasury bonds beginning on Thursday. The bonds, the 39th batch to be floated this year, carry a fixed interest rate of 3.64 percent and will be sold to the public ...
Liberty Mutual Insurance Co, the fifth-biggest foreign insurer in China, made another stride on Wednesday into China's insurance market, at a time when most overseas insurers are re-examining their business models in the face of stagnant growth. The company, whose business ...
China's monetary policy measures have showed effective results so far, Du Jinfu, deputy governor of the People's Bank of China (PBOC), the central bank, said on Wednesday. But he also stressed the need to develop mechanisms for counter-cyclical control of credit to avoid ...
PPF Group, the largest financial and investment group in Central and Eastern Europe, has invested 300 million yuan ($45 million) to establish the first foreign-funded consumer finance company in Tianjin on Wednesday. The move is a signal to the world that China is opening its ...
China Development Bank issued on Thursday its first loan to a lamp company in Egypt as part of a large loan program of China to support the development of African small- and medium-sized enterprises (SMEs). The loan of 200,000 U.S. dollars was lent to Wonder Lighting Egypt, a ...
Central Huijin Investment Ltd., an arm of China's sovereign wealth fund, said Thursday it will soon issue 187.5 billion yuan (27.6 billion U.S. dollars) of Renminbi-denominated bonds in its first ever bond sale. The capital raised will allow Huijin, which already controls China's ...
The Bank of Communications said Wednesday it is able to bear a 50 percent drop in home prices as it quoted a latest stress test to back up its claim. The Shanghai-based bank's retail bad loan ratio will increase by 1.2 percentage points if housing prices tumble by 50 percent, ...
China's opening of its bond market to foreign banks holding yuan will boost global demand for the currency and enhance its potential as a foreign-exchange reserve asset, Citigroup Inc and Credit Agricole CIB said. The People's Bank of China said on Tuesday it will let overseas ...
The People's Bank of China has denied Internet rumors that it has released a new 500-yuan note, the People's Daily said Wednesday. Japanese media recently claimed China was considering introducing a 500-yuan note bearing a portrait of Confucius in order to give the RMB wider ...
The Financial Times reported that China is to allow foreign central banks and overseas lenders to invest in its domestic interbank bond market, in a move to "encourage cross-border renminbi trade settlement" and "broaden investment channels for renminbi to flow back (to China)." ...
Shanghai will encourage local companies to invest in private-equity funds, attract the best fund management companies and offer capital support as the city cooperates with the finance industry to boost its economic upgrade. "Innovation on products, management, services and system ...
The People's Bank of China (PBOC), the central bank, announced Tuesday it would allow overseas financial institutions to invest in the country's interbank bond market on a trial scheme as an effort to further promote yuan cross-border trade settlement. Under the trial program, ...
Chinese credit card holder delinquency rates dropped in the second quarter of the year despite an expansion in credit card issuance, the People's Bank of China (PBOC) said here Tuesday. Credit card delinquencies with late payment of over six months totaled 7.3 billion yuan (1.07 ...
Agricultural Bank of China raised US$22.1 billion as it exercised an over-allotment option to surpass the Industrial and Commercial Bank of China as the world's biggest initial public offering. The bank sold a further 3.34 billion shares at the issue price of 2.68 yuan each in ...
Ernst & Young is "optimistic" its revenue in China will expand by double digits in the coming years, a top company official said. "We're very optimistic that the double-digit revenue growth in China's mainland will continue," said Albert Ng, Ernst & Young's China chairman and its ...
China's order for banks to transfer off-balance-sheet loans may lead to a "flood" of bond issuance from real estate companies, CLSA Asia-Pacific Markets said. The China Banking Regulatory Commission said assets linked to wealth management products provided by trust companies must ...
Shares of the Agricultural Bank of China (ABC), which successfully claimed the title of the world's largest initial public offering (IPO), will face a major test in the market in the coming week after it exercised the over-allotment option to help limit price volatility. By fully ...
CALGARY, Alberta, June 16 - UTS Energy Corp (UTS.TO) has begun to plot out new ways to develop the delayed Fort Hills oil sands project but decisions must wait until Suncor Energy Inc (SU.TO) closes its takeover of the operator, Petro-Canada (PCA.TO), UTS's chief executive said ...
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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 ...