finance

Chinese leading bank Industrial and Commercial Bank of China (ICBC) Thursday announced the formal operation of its first branch in India, as one of its latest move to realize internationalization. This also marks the first branch from Chinese mainland's banking sector in India ...
The Chinese currency Renminbi, or the yuan, gained 81 basis points to a record high of 6.3797 per U.S. dollar on Friday, 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's foreign exchange regulator said Thursday that has it decided to reform its foreign exchange management system for the goods trade. The move aims to reduce social costs, promote foreign exchange management and facilitate goods trade, the State Administration of Foreign ...
Chinese citizens are now more willing to save rather than spend as they are less satisfied with current price levels, according to a third-quarter survey by the country's central bank. The survey showed that nearly 83 percent of those surveyed said it was better to increase ...
More than half of bank executives expect higher interest rates in the fourth quarter of this year, down 11.8 percentage points from the second quarter, the People's Bank of China said Thursday. Around 40 percent of bank executives said they believe interest rates will remain ...
HSBC became the first foreign bank with license to offer RMB products and services in Taiwan, the bank said in a statement on Wednesday. According to the statement, HSBC Bank (Taiwan) Limited on Tuesday obtained approval from the Taiwanese authority to offer RMB products and ...
The Chinese currency Renminbi, or the yuan, gained 67 basis points to 6.3878 per 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 central parity ...
Analysts said that the imminent RMB Qualified Foreign Institutional Investors (RQFII) trials will be conducive to expanding the investment channels of yuan funds raised in Hong Kong. This will also enhance Hong Kong's role as an offshore RMB center and accelerating yuan's ...
China's banking watchdog warned the banking industry on Tuesday about risks of the booming peer-to-peer (P2P) loans. In the absence of intensive supervision, P2P loans are likely to evolve into illegal fund-raising, the China Banking Regulatory Commission (CBRC) said in a notice ...
China's potential purchase of Italian bonds may help diversify the world's largest foreign exchange reserves and boost investor confidence in European markets, some analysts said. But others doubted whether China would actually go ahead with the purchase. Speculation on a bond ...
China's bank regulator has urged banks to guard against risks in commercial real estate projects that have been targeted by speculative investment, the China Securities Journal reported on Sept 13, citing an unnamed source. China's measures aimed at curbing excessive home price ...
China's fiscal revenue increased 34.3 percent year-on-year to reach 754.64 billion yuan (117.91 billion U.S. dollars) in August, the Ministry of Finance said on Tuesday. Ministry analysts said the August fiscal growth rate hit 34.4 percent, more than July's growth rate of 26.7 ...
China should formulate policies to encourage more companies to use the yuan in the settlement of their outbound direct investment (ODI), said a central bank official. "The scope of applications for the yuan is not much different from that of the US dollar and euro ... and it will ...
The Chinese currency Renminbi, or the yuan, weakened 60 basis points to 6.3982 per 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 parity ...
The appreciation of Chinese currency will continue to follow a gradual pace despite the upcoming push of visiting French Foreign Minister Alain Juppe for a faster speed of the renminbi's rise, economists said on Monday. Juppe will visit Beijing on Wednesday for talks ahead of the ...
Bankcard transactions conducted during the first half of the year amounted to 178.6 trillion yuan (about 27.9 trillion U.S. dollars), according to data released on Friday by the China Banking Association. Banks in China have issued a total of 2.67 billion bankcards as of the end ...
China's financial sector should stress quality amid rapid development and tighten supervision of foreign capital inflows, said Wang Guogang, head of the finance and banking institute at the Chinese Academy of Social Sciences. The economist said it would be unwise for China to ...
Chinese officials told European Union business executives that the yuan will achieve "full convertibility" by 2015, Bloomberg quoted EU Chamber of Commerce in China President Davide Cucino as saying. "We were told by those officials by 2015," Cucino was cited by Bloomberg as ...
Khalifa Industrial Zone Abu Dhabi (Kizad) in the United Arab Emirates (UAE) signed a Memorandum of Understanding (MOU) with Industrial and Commercial Bank of China Ltd (ICBC) on Sept 8 to provide financial services for Chinese investors in the zone and promote bilateral trade. ...
The Chinese currency Renminbi, or the yuan, weakened 33 basis points to 6.3922 per U.S. dollar on Friday, 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 parity ...
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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 ...