finance

China's bankcard association, China UnionPay (CUP), said Monday it has signed an agreement with Peru's Interbank to extend CUP card services to Peru. Interbank's ATM machines will begin accepting CUP cards in four months. Other businesses -- CUP card merchant acceptance, card ...
Banks in China will issue a new type of integrated circuits (IC) cards to replace traditional cards with magnetic stripes before 2015, Xu Luode, president of China UnionPay, said at an economic forum, the Shanghai Securities News reported on Monday. The new cards can store more ...
The Export-Import Bank of China (China Eximbank), one of the country's policy lenders, said on Monday it would launch a total of 5 billion yuan (750 million U.S. dollars) of RMB-denominated fixed rate bonds in Hong Kong. It is the third time for China Eximbank, the only ...
Hong Kong Financial Secretary John Tsang on Saturday warned the Asia-Pacific Economic Cooperation member economies of the high risk of "asset-market exuberance" in the region. Speaking at the 17th APEC Finance Ministers' Meeting in Kyoto, Tsang spoke of the daunting challenges ...
China came up with a plan that encourages domestic enterprises to 'go global' 10 years ago, and since then has become an active player in international investment, according to a top economic planner. Although international investment as a whole fell 40 percent last year because ...
Woori Bank, the second largest commercial bank in the Republic of Korea (ROK), opened its first branch in northeast China Friday. The new branch in the coastal city of Dalian, Liaoning Province, provides high-level financial service to ROK and Chinese enterprises and individuals, ...
The People's Bank of China (PBOC), the central bank, announced Wednesday that it will raise the deposit reserve requirement ratio (RRR) for Chinese deposit-taking financial institutions by 50 basis points from Nov.16. This is the fourth rise in the deposit ratio announced by the ...
China's biggest bank by market capitalization Industrial and Commercial Bank of China (ICBC), officially entered Thailand's market Wednesday, according to reports. ICBC thinks highly of the market in Thailand, and the new company in Bangkok will help ICBC develop business along ...
The World Economic Forum (WEF) issued its 2010 Financial Development Report on Thursday, showing that China has advanced four places in the index, climbing up from 26th in 2009 to 22nd in 2010, among the 57 economies listed. The advance, said the WEF, was bolstered by "improvemen...
Permal Asset Management Inc, one of the world's oldest and largest hedge fund houses, is taking a $150 million bet on the Chinese economy, investing in companies that will benefit from the country's economic rebalancing drive. Isaac Souede, chairman and chief executive officer of ...
Only three banks' investment income in the first three quarters saw an increase among all listed banks in China, National Business Daily reported on Wednesday. China Merchants Bank has made an investment income of more than one billion yuan ($149.8 million) in the first three ...
China will float 28 billion yuan (4.19 billion U.S. dollars) of three-year book-entry Treasury bonds from Thursday in a five-day sale, the Chinese Ministry of Finance said Wednesday. The bonds will have an annual interest rate of 2.68 percent and become tradable Nov. 10. Interest ...
China's banking regulator on Tuesday said the banking industry, pillar of the nation's financial system, has an important role to play in transforming the country's economic growth pattern as it highlighted four areas in boosting the process. Jiang Dingzhi, vice chairman of the ...
China Construction Bank said it plans to raise 61.7 billion yuan (US$9.2 billion) in the biggest rights offer in Asia as it joined its major state-owned rivals in raising funds. The world's second-largest bank by market value will sell 630 million yuan-backed A shares at 3.77 ...
If companies that lend micro-credit loans can develop well in China, they may attract capital from the real estate and the stock markets, which may help reduce assets bubbles and benefit the macro economy, said economist Mao Yushi on Oct 31 at the All-China Financial Affairs ...
China Construction Bank (CCB), China's second largest lender by assets, said Tuesday it plans to raise 61.62 billion yuan (9.21 billion U.S. dollars) in a dual rights issue in Shanghai and Hong Kong to improve its capital base. In statements filed with the Shanghai and Hong Kong ...
Ping An Insurance (Group) Co., China' s second-largest insurer, said its plan to purchase 1.64 billion shares from the Shenzhen Development Bank (SDB) was approved Monday by its shareholders. The insurer would pay 2.69 billion yuan (402 million U.S. dollars) in cash and inject 90...
The Industrial and Commercial Bank of China, the world's biggest lender by market value, paid a token US$1 for a small US brokerage, the Wall Street Journal reported yesterday, citing people familiar with the matter. Beijing-based ICBC is buying the Prime Dealer Services unit of ...
China's Minsheng Banking Co. said Friday its third-quarter profit climbed 46.48 percent year on year to 4.14 billion yuan (618.76 million U.S. dollars) on the back of higher interest income. Earnings per share increased 0.03 yuan year on year to 0.16 yuan, according to its third...
China CITIC Bank said Friday its profit rose 48.19 percent to 17.42 billion yuan (2.6 billion U.S. dollars) in the first three quarters from one year earlier. The jump in net profit was due to increased loans, higher profit from non-interest businesses and cost reductions, 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 ...