finance

A Chinese mainland official hailed the recent moves to allow mainland and Taiwan banks to establish branches and representative offices on the other's side in a press conference Wednesday. Fan Liqing, spokeswoman of Taiwan Affairs Office of the State Council, said the moves mark ...
China has raised reserve requirements for six large commercial banks on a temporary basis, a move to drain cash from the economy but avoid over-tightening, Reuters reported on Monday. The 50-basis-point increase, which takes required reserve ratios to 17.5 percent for the country...
Five thousand orphans from northeast China's Liaoning Province have received one year of free medical insurance for treatment of critical illnesses as a joint program of the government and charity organizations expands. The insurance was provided by a program jointly launched by ...
The State Administration of Foreign Exchange (SAFE) said Tuesday Chinese banks' foreign exchange surplus on behalf of clients hit US$29.1 billion in August, up 9.4 percent from the previous month. Foreign exchange sales to banks totaled 113.2 billion U.S. dollars in August while ...
The Ministry of Finance (MOF) recently released tentative measures for managing government funds, stating that applications to establish government funds must be submitted to the ministry and await approval from the State Council, the 21st century Business Herald reported Tuesday...
China's central bank said on Tuesday it had signed an agreement with the Bank of Thailand, the central bank of Thailand, for it to open a representative office in China. It will be the fifth such office opened by a foreign central bank in China and will help improve financial ...
Southeast Asia's biggest bank DBS Group Holdings Ltd plans to draw up to 10 percent of its revenue from the Chinese mainland within ten years, an increase from the current 3 percent. The lender aims to expand its footprint in the country by having 50 points of presence in three ...
China's third State-owned assets management company will be launched sometime around the National Day Holiday period in a bid to speed up restructuring of the country's State-owned assets and trim the number of State-owned enterprises (SOEs), the China Times reported Saturday, ...
Sales of lottery tickets in China reached 104.09 billion yuan (15.54 billion U.S. dollars) during the first eight months of the year, up 23 percent from one year earlier, the Ministry of Finance said Saturday. Further, sales of welfare lotteries in the first eight months rose 25...
China UnionPay Co. Ltd. (CUP), a Chinese bankcard services provider, said Monday it has expanded its card acceptance services in Brazil with the signing of cooperation agreements with two Brazilian financial institutions. China UnionPay said it has reached agreement with Itau ...
The International Monetary Fund (IMF) announced on Monday that it would require 25 major economies with financial sectors that have the greatest impact on global financial stability to go through in-depth mandatory financial stability exams every five years to prevent possible ...
Twenty-one Chinese banks have agreed to buy and sell loans on the country's interbank market, in a first for the nation's debt market, China's central bank said Saturday. The "loan transfer" plan will improve the ability of the People's Bank of China (PBOC), China's central bank, ...
The Ministry of Finance (MOF) has urged financial departments at all levels to increase the investment in social insurance during the 12th Five-Year Plan period (2011-2015), the Economic Observer reported on Saturday. Ministry officials requested the financial departments to ...
Bank of Communications (BOCOM), China's fifth largest lender by assets, Friday announced that it had established a representative office in Taiwan, the first such office set up by a bank from the Chinese mainland. A BOCOM spokesperson said the move would help strengthen ...
Taiwan's banking regulators Thursday approved the applications of two major mainland banks - Bank of China and Bank of Communications - to establish representative offices on the island. Liu Rong, spokesperson for Bank of China, confirmed the approval Thursday in an interview ...
ANZ Banking Group Ltd, the fourth largest bank in Australia, will begin lending and banking operations in China on October 1 after its wholly owned ANZ Bank China Company Ltd received regulatory approval. Final regulatory approval for the establishment of ANZ China was granted by ...
The China-based UnionPay card was launched in Fiji on Monday, Fiji became the first Pacific island country to have the services apart from Australia and New Zealand. Fiji's Prime Minister Commodore Voreqe Bainimarama said UnionPay cards will greatly enhance business and tourism ...
The China Development Bank (CDB), a financial institution under the direct jurisdiction of the State Council of China, on Monday opened its Moscow office. Addressing the opening ceremony, CDB Deputy Governor Gao Jian said the inauguration of the office would not only expand CDB's ...
China increased its holdings of United States treasury debt in July after two months of net sales and economists say it is unlikely Beijing's appetite for US assets will fade in the near future as two of the world's largest economies become increasingly interdependent. China's ...
Chinese bankers have expressed the most confidence in the macro-economy and the banking industry in four years as they expected cooler economic growth and an unchanged monetary policy in the remaining days of 2010, according to a central bank's survey made public Sunday. The ...
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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 ...