finance

China's banking regulator will unveil the country's main framework and roadmap of capital regulation on commercial banks in due time, officials said Friday. Officials from the China Banking Regulatory Commission (CBRC) said the international bank capital regulation reform has ...
Gold futures on the COMEX Division of the New York Mercantile Exchange hit a fresh all-time high of 1,279.5 U.S. dollars per ounce on Thursday, as investors flocking to the perceived safety of the bullion in times of economic uncertainty. The decline in U.S. dollar also enhanced ...
China may approve fund management companies in Hong Kong to try out trading yuan-denominated funds on the Chinese mainland before October, a Hong Kong newspaper said yesterday. The plan, or the "Mini QFII (qualified foreign institutional investor)," has largely been finalized but ...
China's insurers felt the side effect of the country's booming auto market -- with operating losses totaling 2.9 billion yuan (US$427 million) in 2009. Insurance Association of China said here Friday that its 30 member insurance companies that are engaged in traffic compulsory ...
China Everbright Bank set a lower than expected price range for its $3 billion IPO, even after key investors pledged to buy the bulk of the shares, highlighting lingering caution over the country's stock market. State-controlled Everbright Bank said on Sunday the range for its ...
Bank of China (BOC), the country's fourth-largest lender by assets, said Friday it would raise up to 60 billion yuan (8.97 billion U.S. dollars) in a dual rights issue in Shanghai and Hong Kong stock exchanges to replenish capital. In a statement filed to the Shanghai and Hong ...
Total domestic assets of Chinese financial institutions in the banking sector had risen 20.4 percent year on year to 90.6 trillion yuan (13.1 trillion U.S. dollars) by the end of September, China's banking regulator said Friday. Combined liabilities had risen 19.8 percent from ...
Shares of AIA, the Asian unit of U.S. life insurer AIG, opened 11.8 percent higher than its initial public offering price of 19.68 HK dollars (2.54 U.S. dollars) on its first trading day in Hong Kong Friday. The insurer started trading at 22 HK dollars per share at the Hong Kong ...
The Industrial and Commercial Bank of China (ICBC), the country's largest lender by market value, said Thursday it would buy a 60 percent stake in French group AXA's Chinese life insurance venture in a bid to expand into the lucrative business. Once the deal is completed, the ...
The Industrial and Commercial Bank of China (ICBC), the country's biggest commercial lender, said Thursday that its net profit in the first three quarters rose 27.19 percent year on year to 127.22 billion yuan (18.99 billion U.S. dollars). The bank's third quarter profit totaled ...
The People's Bank of China (PBC) released a report on the amount of loans and mortgages in the third quarter of the year. In the first nine months, the newly-added loans in the property sector summed up to 1.72 trillion yuan ($257.31 billion). Of the amount, 559.2 billion yuan (...
Two of China's top banks yesterday posted record quarterly earnings, reflecting solid economic growth and waning anxiety about bad debts. The Agricultural Bank of China and the Bank of China, the country's No. 3 and 4 lenders, kicked off the earnings season for the sector as ...
Ping An Insurance Company of China Ltd., China's second-largest life insurer, said Wednesday its net profit in the first three quarters of this year reached 13.2 billion yuan (about 2 billion U.S. Dollars) , up 8.4 percent year on year. But the rate of growth slowed compared with ...
The fortunes of Agricultural Bank of China (ABC) - the country's biggest rural lender - are becoming increasingly associated with the booming county-level economy of inland China. That is because economic growth in rural areas is gaining momentum as accelerating urbanization sees ...
China is likely to unveil rules this month for a plan to channel Hong Kong-based yuan deposits to mainland equities but may delay the implementation to shield the market from overheating, sources said yesterday. The country's securities regulator may pick about 10 brokerages and ...
One of China's top banking regulators has called upon the nation's commercial lenders to improve their balance sheets and reduce excessive reliance on lending for profits. Wang Zhaoxing, deputy chairman of the China Banking Regulatory Commission(CBRC), said banks should not seek ...
China's Ministry of Finance (MOF) announced Friday it would sell 28 billion yuan (4.2 billion U.S. dollars) of book-entry discount treasury bonds from next Monday. The bonds would be sold at a discount and mature at face value, said the ministry in a statement on its website. ...
The Export-Import Bank of China and the Inter-American Development Bank have committed to finance up to 200 million U.S. dollars worth of trade activity between China and Latin America and the Caribbean (LAC) region over the next two years, bank sources said Saturday. The Letter ...
The first Renminbi-denominated bond issued by the Asian Development Bank, worth 1.2 billion yuan (180 million U.S. dollars), debuted on Hong Kong stock exchange on Friday, making it the first publicly-listed bond to be traded and settled in RMB. The Manila-based Asian Development ...
China's first interest rate increase in 34 months will boost profits at banks in the short term but earnings may come under pressure if authorities allow spreads to narrow, analysts said. The People's Bank of China unexpectedly raised interest rates to fight asset price bubbles ...
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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 ...