finance

A Chinese insurance company has unveiled a new type of "virtual property" insurance that might be the first of its kind in the world. The new service, tailored for online game players, was jointly launched by Sunshine Insurance Group Corporation and online game operator and ...
China's statistics authorities said Thursday it will release the country's key economic indicators, including the consumer price index (CPI) and producer price index (PPI), two to three days ahead of the original schedule starting July. The move aims to shorten the time between ...
Despite its status as the world's largest source of FDI, the US' direct investment in China keeps declining. China received a total of $48.03 billion in foreign direct investment (FDI) from January to May, an increase of 23.4 percent year-on-year. However, the investment from the ...
China's stocks opened slightly higher on Thursday despite the central bank's announcement of the third interest rate hike this year. The benchmark Shanghai Composite Index rose 0.1 percent to open at 2,813.19. The Shenzhen Component Index opened at 12,440.86, up 0.12 percent. The ...
The Chinese currency Renminbi, or the yuan,lost 17 basis points to 6.4732 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 rate ...
China's major commercial banks issued an emergency notice yesterday, asking their branches around the country to stop charging clients for registering loss of password of bankbook and debit card, the Yangtze Evening News reported. The cancellation order came after state ...
A surge in mergers and acquisitions (M&As) of global financial exchanges will not happen in Asia during the next three to five years, despite a wave of worldwide cross-border cooperation, according to officials and analysts. The worldwide trend for M&A between large exchange ...
The People's Bank of China (PBOC), the central bank, announced on Wednesday that it will raise bank's benchmark one-year borrowing and lending rates by 25 basis points beginning Thursday. This is the third time for the central bank to raise interest rates this year. Meanwhile, ...
The weakness of banking shares weighed on Chinese stock markets, pulling the benchmark indices in Shanghai and Shenzhen modestly lower to close on Wednesday. The benchmark Shanghai Composite Index lost 5.88 points, or 0.21 percent, to close at 2,810.48 after trading between intra...
BEIJING--China will surpass the United States as the largest economy in one to two decades, predicted a Chinese economist at a world economic congress Wednesday in Beijing. Qian Yingyi, a well-known economist in China and dean of the School of Economics and Management (SEM) of ...
The People's Bank of China (PBOC), the central bank, announced on Wednesday that it will raise bank's benchmark one-year borrowing and lending rates by 25 basis points on Thursday. This is the third time for the central bank to raise interest rates this year. The previous one ...
Despite its status as the world's largest source of FDI, the US' direct investment in China keeps declining China received a total of $48.03 billion in foreign direct investment (FDI) from January to May, an increase of 23.4 percent year-on-year. However, the investment from the ...
Chinese banks are seen issuing 6.7 trillion yuan ($1.04 trillion) worth of new loans this year, a newspaper said on Wednesday, suggesting lending could slow markedly in 2011 as part of drive to tame inflation. Drawing on its own calculations and without citing sources, the China ...
BEIJING -- The People's Bank of China (PBOC), or the central bank, said Monday it would continue to implement a prudent monetary policy as inflationary pressures still remained high. Although the economy is headed towards the government-set macro control target, the country still ...
Bank of China Ltd (BOC), the only Chinese bank to have operated continuously for nearly 100 years, will continue to expand its overseas network, despite becoming much more reliant on the domestic market in recent years. "By 2020, we expect to become a truly world-class bank," Li ...
The People's Bank of China (PBOC), the country's central bank, vowed on Sunday to improve financial regulation and boost the reformation of the country's financial system. The central bank will "seize an important strategic growth opportunity for the Chinese economy to push ...
Three banks in China have jumped into the top ten ranking of the world's best 1,000 banks, according to the UK magazine Banker. Industrial and Commercial Bank of China (ICBC) ranked sixth, followed by China Construction Bank Corp in eighth place and Bank of China at nine, ...
Chinese banks are now in an increasingly heated battle for deposits after repeated lifts of the bank reserve requirement this year while the country's unrelenting loan-to-deposit cap also send lenders into a wild scramble for more money. A bank president in Wenzhou, Zhejiang ...
The People's Bank of China (PBOC), or the central bank, said Monday it would continue to implement a prudent monetary policy as inflationary pressures still remained high. Although the economy is headed towards the government-set macro control target, the country still faces a ...
It is necessary for China's central bank to raise the benchmark interest rate once or twice in the second half of this year to curb rising inflation, according to a report by the Agricultural Bank of China (ABC). In its six-month report on China's macro economy, ABC said an ...
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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 ...