finance

BEIJING - Chinese insurers are expected to report a 25.1 percent increase in profits to 57.6 billion yuan ($8.69 billion) this year, Wu Dingfu, China Insurance Regulatory Commission (CIRC) chairman, said on Tuesday. According to the CIRC, the country's premium income in the first ...
Harrods department store in London. [Suzanne Plunkett / Bloomberg] SHANGHAI - London-based luxury department store Harrods is holding talks with the Shanghai municipal government on the opening of its first store outside the United Kingdom in the historic Bund area. The British ...
HSBC's office building in Shanghai. The IPO plan indicates the lender may focus more on emerging markets. [China Daily] The much-anticipated launch of the Shanghai exchange's international board may still have to wait until June 2010, despite a foreign media report stating HSBC ...
Baoshan Iron & Steel Co (Baosteel), the nation's largest steel mill, significantly raised its February manufacturer prices yesterday. Major steel wire product prices went up 300 yuan per ton on average. Revised prices on major steel sheets, announced this week, are expected to ...
Companies may report 60% growth in net profit for 2009 BEIJING: Listed property companies may on an average see a 60 percent increase in 2009 net profit and report even stronger numbers this year, industry analysts said on Thursday. According to Wind Info, a financial statistics ...
A PICC ad in the file photo taken in Shaoyang, Hunan province. [Asianewsphoto] PICC Property & Casualty Co, China's largest non-life insurer, aims to achieve a profit from underwriting operations this year as premium rates rebound and the company improves claims management. ...
Galanz microwave ovens on display at a home appliance market in Shantou, Guangdong province. [Provided to China Daily] Beijing - Exporters of home appliances are likely to increase export prices to mitigate the impact of an appreciating yuan on their bottom line, analysts and ...
A China Southern plane taxis on a runway after landing while an Air China flight departs at Beijing Capital International Airport. Doug Kanter / Bloomberg SHANGHAI - Airline shares surged on the Shanghai Stock Exchange on Monday, on anticipation that their US-dollar-denominated ...
BEIJING - The yuan appreciation is likely to have a negative impact on the steel industry in the short term despite lowering the import costs for iron ore, industry experts said on Tuesday. "A stronger yuan would give Chinese steelmakers greater purchasing power for raw materials ...
A passenger looks at hydraulic excavators made by Hitachi Ltd, Liebherr, Caterpillar Inc and Deere & Co before an industrial equipment auction in Dunnigan, California. [Photo/Bloomberg] Construction equipment firm hires Goldman to help with sale: Source BEIJING - Caterpillar Inc, ...
BEIJING - Not only is it the world's largest exporter, but China, the most populous nation and the second-largest economy, is creating a market that will whet the appetites of exporters overseas. "I had never done business and sold anything here in China before, but I think the ...
The Chinese currency Renminbi, or the yuan, strengthened 23 basis points to 6.3319 against the U.S. dollar on Thursday, according to the China Foreign Exchange Trading System. In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the ...
The latest data from the People's Bank of China (PBOC), China's central bank, showed that its yuan funds outstanding for foreign exchanges had dropped 89.3 billion yuan (about 14 billion U.S. dollars) as of the end of October compared to one month earlier, marking the first ...
The steep decline of the Chinese yuan during the past five trading days is market's normal response to China's falling trade surplus, analysts said, and predicted the yuan will stay balanced in value over the long-run. The yuan fell to the low end of its daily trading against the ...
Nikkei plunged Tuesday on the U.S. credit rating agency warning to downgrade 6 eurozone nations for the debt crisis. The 225-issue Nikkei Stock Average ended down 120.82 points, or 1.39 percent, from Monday at 8,575.16, snapping three straight trading days of gains. The broader ...
China's stocks opened mixed on Monday, as the country's banks will begin adopting lower reserve requirements. The benchmark Shanghai Composite Index rose 0.1 percent, or 2.45 points, to open at 2,363.11, while Shenzhen Component Index opened at 9,805.45, down 2.78 points, or 0.03 ...
China's central bank on Monday began implementing a new reserve requirement ratio (RRR) for banks, allowing the country's lenders to keep fewer deposits in reserve to shore up the slowing economy. Easing inflation encouraged China's policy-makers to shift the policy focus from ...
China will see a slightly increase in new bank loans in 2012 from this year's quota of 7.5 trillion yuan (US$1.18 trillion), but the government will maintain lending curbs on the property sector, the China Business News reported on Monday, citing an official from the China ...
A reserve requirement ratio (RRR) cut announced Wednesday will not be strong enough to stem the current decline in real estate prices, analysts said Thursday. China's central bank announced Wednesday that it will lower banks' reserve requirement ratio (RRR) by 50 basis points for ...
Related: World's Central Banks Act to Support Global Financial System Central banks around the world announced Wednesday they will take action to provide market liquidity and lower the borrowing costs of dollars. The move, coming at a time when the eurozone debt crisis continues ...
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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 ...