finance

The gold price in Hong Kong went down 223 HK dollars to open at 16,685 HK dollars per tael on Tuesday, according to the Chinese Gold and Silver Exchange Society. The price is equivalent to 1,797.22 U.S. dollars a troy ounce, down 25.08 U.S. dollars at the latest exchange rate of ...
China Construction Bank (CCB), the country's second largest lender, said Tuesday that it "understands" Bank of America's (BofA) decision to sell half of its 10 percent stake in CCB, and that the cooperation between the two banks will deepen in future. The U.S. banking giant ...
Chinese mainland mutual funds posted a combined loss of nearly 126 billion yuan (US$19.72 billion) in the first half of this year while fund managers nonetheless made slight gains in their commissions. Total losses made by the 763 mutual funds reached 125.4 billion yuan as the ...
China's stocks declined Monday dampened by market speculations of further tightening move by banks to curb lending and fight inflation. The benchmark Shanghai Composite Index slumped 1.37 percent, or 35.78 points, to 2,576.41. The Shenzhen Component Index lost 1.69 percent, or ...
The China Pacific Insurance (Group) Co., the country's third-largest life insurer, said Monday that its net profits jumped 44.7 percent year-on-year to 5.82 billion yuan (911.04 million U.S. dollars) in the first half of the year. The company's income from insurance sales rose 14...
The AWEX Regional Indicators finished 0.1% higher, on average, at sales in Sydney and Melbourne this week when the US exchange rate fell by 0.2%. Sales were held on Tuesday and Wednesday this week to avoid clashing with Wool Week. 37,102 bales were on offer, compared with 46,967 ...
Industrial & Commercial Bank of China Ltd (ICBC) said on Thursday that it would continue expanding overseas despite increasingly uncertain global financial markets, as it reported interim net profit of 109.6 billion yuan ($17.1 billion). Chairman Jiang Jianqing said ICBC would ...
The Agricultural Bank of China, one of China's biggest state-owned banks, said Thursday that its net profits surged 45.4 percent to 66.68 billion yuan (10.42 billion U.S. dollars) in the first half of this year. The bank attributed the profit increase to a sharp rise in fee and ...
The Industrial and Commercial Bank of China, the country's biggest lender by market value, said Thursday that its after-tax profits for the first half of this year rose 29 percent year-on-year as the result of higher loans and fees. The bank's net profits increased to 109.6 ...
Ten Chinese commercial banks reported higher-than-expected net profits of 244.7 billion yuan (72.11 billion U.S. dollars) amid government tightening measures in the first half of the year, the Shanghai Securities News reported on Friday. According to the ten banks' half-year ...
Singapore banks had the top three spots in a list of Asia's safest banks, local media reported on Tuesday. DBS Bank retained the top spot for the third year running in the ranking based on a survey conducted by the Global Finance magazine. Two other local banks OCBC and UOB have ...
Liu Mingkang, chairman of China's Banking Regulatory Commission (CBRC), on Tuesday said the regulator will prohibit bank loans from entering the stock market in an effort to enhance risk control for Chinese banks. Liu said the CBRC will also ban banks from providing guarantees ...
The Sydney-based Commonwealth Bank of Australia (CBA) has opened two more rural branches in central China's Henan Province, bringing its number of bank outlets in the major farming province to three. The two branches, located in the counties of Lankao and Dengfeng, were opened ...
When Chinese shares tumbled amid a global market rout this month, a letter accusing regulatory authorities of being lax in their duties was widely circulated around major websites and struck a chord with investment netizens. The open letter, written by a person identified only as ...
China Construction Bank Corp, the world's second-largest lender by market value, said first-half profit jumped 31 percent to a record as credit demand climbed. Net income rose to 92.8 billion yuan (US$14.5 billion), or 0.37 yuan a share, from 70.7 billion yuan, or 0.3 yuan, a ...
Chinese banks will face substantial stress in capital after the implementation of the Basel III accord, Wu Xiaoling, a former deputy governor at the People's Bank of China, the central bank, said Saturday. Banks of systematic importance will face a financing gap of 400 billion to ...
China should reduce its holdings of US Treasury bonds to protect the value of its massive foreign exchange reserves despite reassurances from US Vice-President Joe Biden, analysts said on Thursday. "China should move progressively to cut its holdings of US Treasury bonds and use ...
Three major commercial banks in China have been fined for charging illegally for the registration of lost passwords, China's National Development and Reform Commission said Thursday. Citic Bank and the Industrial Bank were fined 2 million yuan each and the Postal Savings Bank of ...
China's central bank said on Thursday that it will expand pilot programs of securitization of credit assets and offer more support to small- and middle-sized enterprises (SMEs), Shanghai Securities News said. According to the paper, People's Bank of China said it will step up to ...
Chinese financial institutions increased credit support to the country's small business to shore up their growth, despite maintaining an overall lending curb, a central bank official said on Thursday. Against the backdrop of a prudent monetary policy, loans to small businesses ...
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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 ...