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Profits at ICBC, BoCom rise

The Industrial and Commercial Bank of China and the Bank of Communications yesterday reported third-quarter earnings growth of about 30 percent as they benefited from better pricing margins on loans and wider non-interest income. Net profit in the July-September quarter at ...

Yuan retreats to 6.3456 against USD Wednesday

The Chinese currency Renminbi, or the yuan, weakened 31 basis points to 6.3456 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 ...

Bank of China net profits up 21.52 pct in first three quarters

Bank of China said Wednesday its net profits totaled 96.30 billion yuan (15.17 billion U.S. dollars) in the first three quarters of this year, showing a 21.52 percent year-on-year rise. Its third quarter net profits climbed 8.98 percent from one year earlier to 31.15 billion yuan...

CBRC urges financial support for small firms

The China Banking Regulatory Commission (CBRC), the country's top banking regulator, on Tuesday revealed detailed plans to encourage financial support for the country's small and micro-sized enterprises. In a supplementary notice issued to its previous support plan for financing ...

ABC says net profits up 43.59 pct as of September

The Agricultural Bank of China, one of China's biggest state-owned banks, said Wednesday that its net profits for the first three quarters of this year jumped 43.59 percent year-on-year to 100.78 billion yuan (15.88 billion U.S. dollars). The bank attributed the profit increase ...

Gold price closes higher in Hong Kong

The gold price in Hong Kong moved up 30 HK dollars to close at 15,370 HK dollars per tael on Tuesday, according to the Chinese Gold and Silver Exchange Society. The price is equivalent to 1,659.19 U.S. dollars, up 3.24 U.S. dollars at latest exchange rate of one U.S. dollar ...

Yuan advances to record high of 6.3425 against USD

The Chinese currency Renminbi, or the yuan, strengthened for five straight trading days to a record high of 6.3425 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 ...

Gold price opens flat in Hong Kong

The gold price in Hong Kong opened flat at 15,340 HK dollars per tael on Tuesday, according to the Chinese Gold and Silver Exchange Society. The price is equivalent to 1,655.95 U.S. dollars a troy ounce at the latest exchange rate of one U.S. dollar against 7.776 HK dollars.

Occupy the mortgage lenders

Participants in the Occupy Wall Street movement are right to argue that the big banks have never properly been investigated for the mortgage origination, aggregation, and securitization behavior that was central to the financial crisis and to the loss of more than eight million ...

Police begin to arrest 'runaway bosses'

Police have begun arresting entrepreneurs who have gone into hiding to avoid repaying bank and informal high-interest loans, as authorities move to control the debt crisis in East China from spilling into social unrest, local officials said Tuesday. Rao Dawei, a shoe factory ...

Why China slashed its US debt holdings

China cut its holdings of U.S. government debt by 36.5 billion U.S. dollars in August, which was the first decrease after four consecutive months of increases and also the biggest one-month decline in recent years, according to statistics issued by the U.S. Treasury this week. ...

Yuan advances to 6.3549 against USD Monday

The Chinese currency Renminbi, or the yuan, gained 79 basis points to 6.3549 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 central ...

Tax reform won't affect oil price: authorities

The reform of China's resource tax will not impact China's domestic prices for oil and natural gas, the Ministry of Finance (MOF) and the State Administration of Taxation said Monday. China's pricing mechanism for oil products is mainly based on the international oil price trend, ...

Good week for the fine wools

The AWEX Regional Indicators finished 0.1% lower, on average, at sales in Newcastle, Melbourne and Fremantle this week when the US exchange rate fell by 0.2%. The market continued in the steadier pattern of the previous two weeks. The closing EMI was down by 0.2% this week, ...

China's social financing falls $194b in Jan-Sept

China's social financing, a broad measure of funds raised by entities in the real economy, shrank 1.26 trillion yuan ($194 billion) from a year earlier to 9.8 trillion yuan in the first three quarters, the central bank said Thursday. All sub-indicators grew at slower paces from ...

China's yuan strengthens against USD Thursday

The Chinese currency Renminbi, or the yuan, strengthened 75 basis points to 6.3652 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 ...

Insurers fall on stricter debt issue rules

Chinese insurers fell in both Shanghai and Hong Kong trading yesterday after the regulator tightened rules governing the issue of subordinated debt to prevent financial risks in the sector. Insurers who plan to raise funds through subordinated debt, a type of debt that offers a ...

Loans for energy saving inked

Shanghai Pudong Development Bank signed a strategic partnership agreement Wednesday with Baosteel Engineering and Technology Group to tap the growing call for energy-saving measures. The Chinese government is set to offer a preferential policy to energy-saving industries as the ...

China's yuan strengthens against USD Wednesday

The Chinese currency Renminbi, or the yuan, strengthens 22 basis points to 6.3727 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 ...

Moody's downgrades Spain credit rating

Moody's Investors Service on Tuesday downgraded Spain's credit rating by two notches from As2 to A1. Moody's put Spain's credit outlook at negative, warning more downgrade risks in the future, after Standard & Poor's took a similar move days ago. The ratings agency said in a ...
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Latest World News

china

China's reform leading group holds first meeting
China's reform leading group holds first meeting
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China stocks close higher over liquidity injection
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China slams Japan's NHK governor's denial of Nanjing massacre
China slams Japan's NHK governor's denial of Nanjing massacre
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world

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China cuts retail oil prices
China cuts retail oil prices
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GM China chairman to retire
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company

industry

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 ...

trade

sports

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
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Fourteen countries expected to compete in Cuba's wrestling tourney
Some 14 countries and regions are expected to compete in the 45th ...
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