finance

The new yuan lending of Chinese commercial banks will total nearly 7.5 trillion yuan ($1.17 trillion) in 2011, and the credit policy in the fourth quarter will be relatively loose, analysts said. "As white-hot inflation is tamed, there will undoubtedly be some loosening of ...
An emergency fund has been set up in China's eastern city of Wenzhou to help cash-stricken businesses and individuals meet financing needs, the China Securities Journal reported on Wednesday. After Beijing clamped down on credit to fight inflation, some private firms have to ...
The Chinese currency Renminbi, or the yuan, weakened 4 basis points to 6.3297 against the U.S. dollar on Wednesday, 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 central ...
The U.S. House Ways and Means Committee recently held a hearing on China-U.S. trade relations. At the hearing, the RMB exchange rate issue again became the focus of intense debate, and certain Congress members even threatened a trade war with China. The long-running RMB exchange ...
Shanghai plans to increase the number of financial professionals by about 40 percent in the next five years, the city's latest attempt to turn into an international financial hub. The city aims to recruit 90,000 more financial workers to take the number of the total financial ...
The Chinese currency Renminbi, or the yuan, weakened 60 basis points to 6.3293 against the U.S. dollar on Tuesday, 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 central ...
China's government will not sit by and will retaliate in kind against the United States if a measure targeting the yuan becomes law, said the Ministry of Commerce on Monday. "The currency legislation proposed by the US would hurt the interests of both China and the US. We are ...
China's Dagong Global Credit Rating Co. Ltd. on Monday downgraded the local and foreign currency sovereign credit rating of Denmark from AAA to AA+, with a stable outlook. The Danish economy is lacking momentum after the country's real estate bubble burst during the global ...
China's foreign exchange regulator said Monday that the total surplus of Chinese banks' foreign exchange from bank-to-client transactions reached 26 billion U.S. dollars in September. In September, institutional and individual clients sold 142.6 billion U.S. dollars in foreign ...
Although China concept stocks in the U.S. stock market have presented sluggish performance recently, most foreign venture capital institutions in China are still showing confidence in the investment opportunities in the country's huge market. China concept stocks have experienced ...
The Chinese currency Renminbi, or the yuan, strengthened 57 basis points to 6.3233 against the U.S. dollar on Monday, 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 ...
China Everbright Bank's profit jumped 40.65 percent year on year to reach 14.15 billion yuan (2.23 billion U.S. dollars) for the first three quarters of the year, the mid-sized lender said in a statement filed to the Shanghai Stock Exchange. The bank attributed the profit growth ...
China's top banking and insurance regulators have reached retirement age, and a shake-up is expected as early as this week, three independent sources have said. Liu Mingkang, chairman of the China Banking Regulatory Commission, and Wu Dingfu, chairman of the China Insurance ...
China Merchants Bank, the country's sixth largest commercial bank, said on Friday that its profits increased 37.91 percent year-on-year to 28.388 billion yuan (4.47 billion U.S. dollars) in the first three quarters of this year. The company's operating income stood at 70.29 ...
China Construction Bank, the world's second-largest lender by market value, yesterday said third-quarter profit climbed 16 percent on higher demand for loans and income from fees and commissions. Net income rose to 46.2 billion yuan (US$7.3 billion), or 0.18 yuan a share, from 39...
A total of 335.9 billion yuan (52.86 billion U.S. dollars) in petty loans had been issued by China's 3,791 petty loan companies as of September, the country's central bank said Friday. Inner Mongolia Autonomous Region topped the list in terms of the number of petty loan companies...
China Construction Bank Corp., the country's second largest bank, said Friday that its net profit for the first nine months of the year rose 25.8 percent year-on-year on rising interest income and fees. Its net profit totaled 139 billion yuan (21.9 billion U.S. dollars) in the ...
The Agricultural Bank of China, one of China's large state-owned banks, said Friday that its chairman Xiang Junbo has resigned. Xiang resigned because of a "need related to the country's financial work," the bank said in a brief statement filed to the Shanghai Stock Exchange. It ...
China's economic slowdown will result in more acquisition opportunities for foreign investors, Blackstone Group executives said. But the world's largest private equity (PE) company will shun China's real estate market for the time being because property prices have risen too high...
China's central bank on Friday issued guidelines to regulate the country's burgeoning prepaid card market. The face value of prepaid cards bearing the names of their owners must not exceed 5,000 yuan (787 U.S. dollars), while the face value of cards that do not bear the names of ...
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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 ...