finance

Morgan Stanley was said to have won approval from Chinese regulators to sell its 34.3 percent stake in investment bank China International Capital Corp, Shanghai Securities News reported Tuesday. Regulators have agreed to the New York-based company's exit from CICC but they still ...
Standard Chartered Bank will double the number of relationship managers for the small and medium business in China in three years while targeting an annual revenue growth of 30 percent to 40 percent in the period to tap China's rising economy. The bank moved its northeast Asia ...
Blackstone Group, the world's biggest private equity firm, has raised more than half of the money for its first yuan fund since it started raising capital for the fund last year, said Antony Leung, the group's chairman for Greater China. Leung said he is not sure about the exact ...
China's private equity (PE) fund of $10 billion for Southeast Asian countries has completed its first round of fundraising worth $1 billion and it expects its maiden project in infrastructure to take place by the end of this year. "The fund's preparatory work has been done and we ...
China's central bank said Tuesday it will raise its benchmark one-year lending and deposit rate by 0.25 percentage points effective from Oct. 20. The People's Bank of China (PBOC) said in a statement on its website that the one-year deposit rate will rise from 2.25 percent to 2...
Financial capital inflows to China and their impact on the economy remain modest given the limited amount and the country's capital controls, an economist from the World Bank said on Tuesday. "China is seeing some capital inflows, most of which are foreign direct investment in ...
China Development Bank (CDB), one of the country's three policy lenders, said on Monday it would launch a total of 3 billion yuan ($450 million) of fixed rate bonds in Hong Kong. It is the third time for CDB, the mainstream bank for China's medium- to long-term investment and ...
AIA, the Asian unit of U.S. life insurer AIG making an initial public offering in Hong Kong, began offering of 5.86 billion shares on Monday. Of the total offering, about 586 million AIA shares, or 10 percent of the total, were for public offering in this Asian financial hub, ...
There will be unrelenting efforts to crack down on activities such as illegal financing and pyramid selling by insurance agents, the China Insurance Regulatory Commission (CIRC) said Monday. The CIRC issued the statement on its website after two cases came to the attention of the ...
China's central bank on Friday launched an online interbank payment system which will allow customers to make real-time transfers between lenders and balance inquiries through a single website. A first batch of 129 banks will adopt the new online clearing system, with a capped ...
The Bank of Montreal (BMO) Financial Group Thursday inaugurated its first incorporated subsidiary in China, Bank of Montreal (China) Co. Ltd. (BMO ChinaCo), in Beijing, joining other rivals in the race to grab a share of a financial market boasting 1.3 billion people. According ...
The debts of local government-backed investment units in China reached 7.66 trillion yuan ($1.15 trillion) by the end of June, of which 2 trillion yuan is questionable, China Securities Journal on Thursday quoted an anonymous source as saying. The report said the figure is the ...
China's fiscal revenue intake in October rose 14.8 percent year on year to 786.03 billion yuan (US$118.66 billion) though the growth rate is likely to slow over the rest of the year, the Ministry of Finance (MOF) said Thursday. The October figure took China's fiscal revenue in ...
China's new yuan-denominated lending in October dropped to 587.7 billion yuan (US$88.5 billion) from 595.5 billion yuan in September, the People's Bank of China (PBOC), the central bank, said Thursday. The figure was higher than market estimates of less than 500 billion yuan ...
China's Ministry of Finance said it will sell 28.21 billion yuan (US$4.21 billion) of one-year book-entry treasury bonds from Thursday. The bonds will have a fixed interest rate of 2.15 percent, the ministry said in a statement on its website. The bonds are the 36th batch of the ...
Canadian Minister of Finance Jim Flaherty Wednesday welcomed an agreement with the China Insurance Regulatory Commission that designates Canada as a destination for Chinese insurance wealth management business. Commenting on the exchange of letters on the agreement on Wednesday, ...
China's central bank moved a step further to tighten liquidity amid increasing inflation pressures as it ordered Chinese banks to set aside more reserves on Wednesday. The People's Bank of China, or the central bank, announced it would raise the deposit reserve requirement ratio ...
Bank of China (BOC), the country's fourth-largest bank by assets, said Tuesday its renminbi (RMB) cross-border trade settlement business had exceeded 80 billion yuan (12.02 billion U.S. dollars) by the end of October. According to a statement released Tuesday on BOC's website, ...
The Chinese mainland has approved mutual direct exchange of the yuan and the New Taiwan Dollar (TWD) in Guangdong province, where the Asian Games will open on Friday. The State Administration of Foreign Exchange has permitted two mainland banks -- Industrial and Commercial Bank ...
China's foreign exchange regulator on Tuesday introduced measures to increase checks on the foreign exchange businesses and further curb inflows of hot money. The move came a week after the U.S. Federal Reserve announced a new round of "quantitative easing," raising concerns ...
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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 ...