finance

Chinese officials on Wednesday urged Singapore to consider issuing Qualifying Full Bank (QFB) licenses to the Singapore branches of two Chinese banks, the Bank of China (BOC) and the Industrial and Commercial Bank of China (ICBC). The QFB license will allow a foreign bank to open ...
A total of 440 village banks were operating in China by the end of May, with another 96 under construction, the nation's banking regulator said Wednesday. Since China lowered the threshold of opening village banks in 2006, the industry has developed in a positive way, the China ...
International Finance Corp (IFC), a member of the World Bank Group which focuses on the development of the private sector in emerging markets, plans to invest more than $500 million in China during its next fiscal year. The funds will be mainly used to support private enterprise ...
Small enterprises that have been facing capital shortages might get relief soon, if State-owned banks ease lending policies for such businesses, Hu Xiaoming, vice-president at Alibaba Group, said. Hu made the remarks on Wednesday in Beijing as Alibaba (China) Co Ltd and the ...
China's expenditures on logistical services totaled 3.7 trillion yuan (around 570 billion U.S. dollars) in the first half of 2011, an increase of 18.5 percent year-on-year, statistics showed. The spending accounted for 18 percent of the country's gross domestic product (GDP), the ...
Philippine monetary officials on Thursday decided to maintain current key policy rates as latest baseline forecasts showed a lower path consistent with the 3 percent to 5 percent inflation target range for 2011 and 2012. The central bank's overnight borrowing rate still stands at ...
Chinese economists believe that a US debt default is unlikely, but they warned that the US government should reduce excessive expenditures and avoid a deeper economic crisis. US President Barack Obama said in a televised address in Washington that a failure to raise the $14.3 ...
Asian countries should heed lessons of sovereign debt crisis in Europe and be prudent about adopting a single currency With a debt crisis emerging in Italy, the third largest European economy and the world's seventh largest, the eurozone sovereign debt crisis that broke out at ...
China's banking regulator said it will step up monitoring of loans to local government financing platforms and the property market in the second half of the year. Banks should not give loans to new platforms and new projects that are not in accordance with requirements, the China ...
China's new lending to the real estate industry totaled 791.2 billion yuan ($122.32 billion) in the first half of 2011, the Securities Time reported Wednesday, citing data from the People's Bank of China (PBOC). PBOC data shows the new added loan growth during the past half year ...
Founder Securities, the Chinese partner of Credit Suisse, has set a suggested price target to raise up to 6.42 billion yuan ($996 million) from its planned initial public offering (IPO) in Shanghai, International Financing Review (IFR) reported on Tuesday. Founder Securities is ...
The Chinese currency Renminbi, or the yuan, weakened 12 basis points to 6.4438 per U.S. dollar on Thursday, according to the China Foreign Exchange Trading system. The yuan hits a record high of 6.4426 per U.S. dollar on Wednesday. In China's foreign exchange spot market, the ...
According to the purchasing managers' index released by HSBC bank in July, Chinese manufacturing activity has been declining this year and is likely to decline further in the third quarter. Undoubtedly, the Chinese manufacture industry is now facing its biggest challenge since ...
China's offshore financial assets rose 7 percent in the year to March to $4.4 trillion, primarily propelled by rising foreign-exchange reserves. According to the nation's balance sheet of foreign-exchange assets and liabilities, also known as the International Investment Position...
China's fiscal revenue will increase at a slower pace in the second half of this year, following an array of tax cuts, the Ministry of Finance (MOF) said on Tuesday. Reductions in personal income tax, value-added tax, sales tax, and small business tax will lead to slowing growth, ...
China collected 1.05 trillion yuan ($162.64 billion) of social insurance fund in the first half of 2011, up 26.6 percent from the same period last year, the China Business News reported on Tuesday, citing data from the Ministry of Human Resources and Social Security. The fund ...
The China Investment Corporation (CIC), the country's sovereign wealth fund, said on Tuesday it has made a return of 11.7 percent on its global investment portfolio in 2010. The rate was unchanged from that of 2009, reversing losses in 2008 when the rate was a negative 2.1 ...
The Chinese currency Renminbi, or the yuan, gained 33 basis points to 6.4470 per U.S. dollar on Tuesday, the highest since China started the exchange rate reform six years ago, according to the China Foreign Exchange Trading system. In China's foreign exchange spot market, the ...
As of July 21 of 2011, the RMB exchange rate reform had been implemented for 10 years. On that day, the average exchange rate of the RMB against the U.S. dollar was 6.4536, which was a new record since China exchange rate reform started. Since 2005, the RMB has appreciated by ...
The Chinese currency Renminbi, or the yuan, gained 33 basis points to 6.4470 per U.S. dollar on Tuesday, the highest since China started the exchange rate reform six years ago, according to the China Foreign Exchange Trading system. In China's foreign exchange spot market, the ...
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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 ...