finance

China Merchants Bank said Friday its profit rose 57.4 percent to 20.59 billion yuan (3.07 billion U.S. dollars) in the first three quarters from one year earlier. The jump in net profit was mainly due to higher interest income, the bank said in its business report filed with the ...
China Pacific Insurance (Group) Co. Ltd, the country's third-largest insurer, said Friday its third-quarter profits dropped 64.4 percent to 886 million yuan (132.24 million U.S. dollars) from the same period last year. Further, profits in the first three quarters expanded 20.78 ...
China's banking regulator approved Wednesday another two Taiwan banks to set up branches on the mainland. The China Banking Regulatory Commission (CBRC) said in a statement on its website that it had approved Taiwan's Cathay United Bank to set up a branch in Shanghai, and Hua Nan ...
VIENNA, Dec. 21 - The weekly average price of the Organization of Petroleum Exporting Countries dropped again last week, down 1.87 U.S. dollars to 71.44 dollars per barrel, the Vienna-based cartel said Monday. OPEC's weekly oil price has dropped for two consecutive weeks. Last ...
Individual Chinese investors are quickening their expansion into the overseas property market as tightening measures on the sector at home continue to restrict their opportunities. So far, 13 local governments have rolled out policies to restrict the number of homes that a family ...
Chinese bankers see the risks of falling housing prices and the outstanding loans to local governments via financing platforms as two of their major concerns, according to the Chinese Bankers Survey Report 2010 released Thursday. About 72 percent of Chinese bankers said the risk ...
NEW YORK , Apr 8 - Oil prices fell 1 percent on Wednesday, snapping a string of six straight sessions of gains, pressured by a stronger dollar and U.S. government data showing a bigger-than-expected increase in crude inventories. U.S. light crude futures for May fell 96 cents, or ...
April 14 - China Petrochemical Corp. s purchase of a stake in a Canada oil venture brings the nation s spending on resources to $64 billion since 2005 and underlines its willingness to pay a premium for energy security. The company known as Sinopec Group agreed to pay at least ...
SINGAPORE, May 12-The recovery of the chemicals industry in Asia has been nervous and edgy, with many complications in play and the ever-present danger that it could all go drastically wrong, market players said on Wednesday. The 2010 Asia Petrochemical Industry Conference (APIC)...
Minsheng plans to raise 21 bln yuan in private placement in Shanghai 2011-01-07 21:13:05 BEIJING, Jan. 7 (Xinhua) -- China Minsheng Banking Corp. said Friday it plans to raise 21.48 billion yuan (3.25 billion U.S. dollars) in a private offering in Shanghai to replenish its ...
A spokesman for the Ping An Insurance (Group) Co., China's second largest insurer, said he did not know about any plan for the company to raise funds, after a rumor caused a 4.14 percent slump in the insurer's share price in Shanghai Thursday. Ping An spokesman Sheng Ruisheng ...
The People's Bank of China (PBOC), the country's central bank, will check credit and capital levels of commercial banks each month to determine the reserve requirements for individual lenders, viewed as a measure to strengthen control over banks' monthly credit. The China ...
China is reportedly planning to begin a monthly review of required reserves for banks this year as the country reforms monetary policy. Banks will face different required reserve ratios depending on the role they play in the economy, according to a report yesterday by China ...
The number of illegal fund-raising cases in China has been rising since 2008, with about 5,400 suspects arrested in 5,000 cases, a senior police officer warned on Tuesday. Liu Dong, deputy director of the economic crime investigation department under the Ministry of Public ...
The Bank of Qilu has been found to be involved in a massive loan fraud and police in Ji'nan, capital of Shandong Province, is probing into the case, China Business News reported Tuesday. The bank which changed its name from Ji'nan City Commercial Bank in 2009, began to show signs ...
While 2010 marks an unusual year for China's sizzling initial public offerings (IPO), the number of IPOs will stabilize in 2011 - with more small companies expected to get listed and less funds raised, according to a PricewaterhouseCoopers (PwC) press conference Tuesday. PwC ...
Competition is heating up in the credit market of Singapore as the economy rebounded strongly to record a growth of 14.7 percent last year, local media reported Monday. With rising wages lining the pockets of consumers and few out of work, credit card issuing firms are vying for ...
The Exchange Fund of Hong Kong's foreign assets grew by 111.8 billion HK dollars (14.38 billion U.S. dollars) in November over October to reach 2.3914 trillion HK dollars (307.65 billion U.S. dollars), the Monetary Authority of Hong Kong said on Friday. The Monetary Authority of ...
The yuan strengthened beyond 6.6 per dollar for the first time since 1993 on speculation China will allow the currency to advance in an effort to tame inflation. The benchmark money-market rate hit a three-year high. The renminbi has climbed 0.5 percent in the past five days, ...
China will implement a prudent monetary policy in 2011 and ensure consumer prices stay "basically stable," the central bank governor Zhou Xiaochuan said Friday. The People's Bank of China, the central bank, will strive to make the monetary policy more targeted, flexible and ...
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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 ...