finance

China Merchants Bank, the country's fifth largest bank by market value, said on Tuesday that its first-half profits increased 40.12 percent year-on-year to 18.5 billion yuan (US$2.87 billion). The company's operating income rose 39.67 percent from one year earlier to 46 billion ...
Chinese credit card holders' delinquency ratio stood at 1.7 percent at the end of June, unchanged compared with the level three months ago, China's central bank said Monday. Payments overdue for more than six months totaled 9.93 billion yuan (1.54 billion U.S. dollars) at the end ...
British Royal Bank of Scotland (RBS) on Friday reported a half-year loss before tax of 794 million pounds (1,270 million U.S. dollars) due to massive provisions for Greek government bonds and compensation for mis-selling of payment protection insurance (PPI). Total loss after tax ...
China's Ministry of Finance (MOF) said on Friday that it will sell 15 billion yuan (2.32 billion U.S. dollars) in 273-day book entry discount treasury bonds next week. The bonds, which will come with an annual interest rate of 3.89 percent, will be issued on a discount basis at a ...
Industrial and Commercial Bank of China (ICBC), the world's biggest lender by market value, said Friday it had agreed to pay 600 million U.S. dollars to take a lion's share of assets controlled by Standard Bank Group Ltd. in Argentina, to extend its businesses in South America. ...
U.S. crude oil price tumbled Thursday morning, breaking the important supporting level of 90 dollars a barrel for the first time in four weeks as concerns about European debt crisis weighed on the market, hurting future demand and the dollar soared against a basket of currencies. ...
Around 72 percent of Chinese plan to buy insurance in the next 12 months because of growing risk awareness and a rising need to supplement basic social security protection, according to a survey released on Tuesday by Swiss Re, the world's largest re-insurance company. Recent ...
Insurers are urged to expand their coverage and penetrate deeper in the market in the world's second-biggest economy during the 12th Five-Year Plan from 2011 to 2015, according to the insurance regulator. The insurance penetration in China is less than half of the world's average ...
Barclays will cut about 3,000 jobs this year as the industry grapples with tougher regulation and the impact of a spreading sovereign debt crisis on investment banking operations. First-half profits at the bank fell by a third after a drop in bond trading activity at its ...
Its $3.2 trillion foreign reserve means China is sitting on a volcano. How to manage its ever-expanding national wealth and prevent its national economic and financial security from being endangered by the still-fermenting debt risks in the United States and Europe poses a severe ...
Battered public confidence in bullet trains, the prospect of lower jet fuel costs and a rising yuan have combined to provide a fillip for the sagging market fortunes of Chinese airlines. The share prices of China's three biggest airlines took off the day after a high-speed train ...
The Chinese currency Renminbi, or the yuan, strengthened to a record high of 6.4399 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 ...
Stress tests have shown that Chinese banks can cope with a drop in property prices of up to 50 percent, the country's top banking regulator has said. The tests in this year's second quarter found that even a drop that large wouldn't result in bad loans having any great effect on ...
A top Chinese credit ratings agency has put two local government financing vehicles in the southwestern province of Yunnan on credit watch, the first such move since concerns mounted over potential defaults on local government debt. China Chengxin International, which is 49 ...
Private lenders are charging up to 18 times the benchmark loan rate in Guangzhou, Guangdong province, with small and medium-sized enterprises (SMEs) finding it increasingly hard to get bank credit as a result of government tightening policies. Annual private loan rates range from ...
The income tax threshold for foreign employees in China will remain unchanged when personal tax thresholds are raised. Now the threshold for expats is 2,000 yuan with an extra 2,800 yuan. From September 1, China will raise the threshold for foreigners to 3,500 yuan. However, the ...
Central government departments spent a great deal of their money on vehicle purchases and maintenance last year, underlining the slow progress China has made in reforming its central government departments' spending habits, the Economic Information Daily said Thursday. As of ...
China's foreign exchange regulator said on Thursday that a buildup of foreign exchange reserves is not the direct or major cause of the country's current inflation woes. The State Administration of Foreign Exchange (SAFE) made the remarks in response to criticism of its ...
Swiss bank UBS said on Thursday it has set up an asset management unit in Beijing to tap China's rapidly-growing $650 billion private equity market. "China's strong economic growth has positioned the market as one of the most promising emerging markets globally and resulted in a ...
China Development Bank said Thursday that it lent 52.7 billion yuan (US$8.1 billion) to finance housing projects for low-income earners in the first half of this year. The bank reported a rise of 44.3 billion yuan in outstanding loans to affordable housing projects in the first ...
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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 ...