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Disney Shanghai gets loan from Chinese banks: Twelve Chinese banks have signed a syndicated loan deal with Shendi Group, Walt Disney Co's local partner, for the construction of the Shanghai Disneyland theme park, the Xinhua News Agency reported late on Friday. It did not mention how big the loan was but said the lead lenders ...

China to simplify procedures concerning capital account management: China's foreign exchange regulator announced Friday that it will simplify some procedures regarding the management of capital accounts in a bid to encourage trade and investment. According to the new requirement, which becomes effective on June 1, companies will not need to ...

US: China not manipulating currency: WASHINGTON - The US Treasury Department said in a report released on Friday that China was not manipulating its currency. "In China, since the authorities decided in June 2010 to allow the exchange rate to appreciate in response to market forces, the renminbi (RMB) has appreciate...

Yuan rises to new high against USD Friday: BEIJING - The Chinese currency Renminbi, or the yuan, appreciated 23 basis points to an all-time high at 6.4898 per $1 on Friday, according to the China Foreign Exchange Trading system. The yuan's fresh central parity rate scrapped the previous record of 6.4921 per $1 set on May ...

Yuan rises to 6.4921 per dollar Thursday: The Chinese currency Renminbi, or the yuan, continued to strengthen 28 basis points to 6.4921 per U.S. dollar on Thursday, according to the China Foreign Exchange Trading system. The yuan hit an all-time high on May 11 when the central parity rate was set at 6.4848 per U.S. ...

Markets slide for fifth day: SHANGHAI - Stocks on the Chinese mainland fell for a fifth day on Wednesday. The benchmark index slid 10 percent from this year's high, on concerns the government will intensify curbs on the property market and tighter monetary policies may hurt earnings. Industrial and ...

Central bank issues online payment license: The People's Bank of China, or China's central bank, yesterday granted licenses to the first batch of 27 non-financial institutions, including Alipay and Tencent's Tenpay, to allow them run third-party payment services. The institutions included Alipay, a unit of Alibaba Group ...

Lenders given CAR timetable: The China Banking Regulatory Commission (CBRC) on Thursday required six major banks to submit the results of their capital-adequacy ratio (CAR) calculations before June 3. The CARs are based on new standards highlighting the risks related to government-backed loans and the ...

Chinese financial leasing firms' assets hits 364b yuan: China's financial leasing industry has reported rapid growth in recent years, as the total assets of the country's 17 financial leasing companies jumped to 364 billion yuan ($56 billion) at the end of March this year, an increase of 25 fold from 2007, a senior banking official ...

Stocks hit by further tightening concerns: SHANGHAI - Stocks on the Chinese mainland fell for a fourth day on Tuesday. The retreat came on concern that government measures to cool inflation are slowing the world's second-biggest economy. PetroChina Co, the nation's biggest oil company, lost 1.9 percent after Goldman Sachs ...

Gold price closes higher in Hong Kong - May 24: HONG KONG -- The gold price in Hong Kong closed up HK$102 at HK$14,120 per tael on Tuesday, according to the Chinese Gold and Silver Exchange Society. The price is equivalent to $1,523.86, up $11 a troy ounce at latest exchange rate of $1 against HK$7.778.

ICBC launches dual-currency credit card: The world's largest commercial bank ICBC launched its bid to promote its dual-currency credit card outside China on Monday -- with international investor Jim Rogers among the first holders. The dual-currency credit card came with two accounts, with one of them in renminbi and the ...

Insurers eye long-term gain in housing plan: Seven Chinese insurance companies will invest up to 80 billion yuan ($12.3 billion) to build affordable housing in Beijing, a secure investment that will help them gain government support in investments including nursing homes, said a person familiar with the situation. Led by ...

Hong Kong gold price closes up - May 23: HONG KONG -- The gold price in Hong Kong closed up HK$80 at HK$14,018 per tael on Monday, according to the Chinese Gold and Silver Exchange Society. The price is equivalent to $1,513.44 , up $8.64 a troy ounce at latest exchange rate of $1 against HK$7.775.

Third-party payment association founded: China Payment and Settlement Association was founded in Beijing Monday, with 164 members. Although the long-awaited third-party payment licenses were not granted to payment companies Monday, experts believe they soon will be. "The central bank is in charge of the supervision of ...

China's yuan weakens to 6.4998: The Chinese currency Renminbi, or the yuan, weakened 15 basis points to 6.4998 per U.S. dollar on Monday, snapping the streak of appreciation for three consecutive trading days, according to the China Foreign Exchange Trading system. It hit a new high of 6.4948 per U.S. dollar on ...

Banks face stricter supervision: China imposes banking rules that are more stringent than the global benchmark and the government will still continue to closely monitor risks over the rapidly-growing banking sector, a senior regulator disclosed at the Lujiazui Forum. China is setting rules tougher than the new ...

Banks urged to think smaller: China's banking regulator is urging banks to lend more to small companies and abandon their reliance on big enterprises in the light of complaints that small firms are suffering the most under current tightening policies. "Big companies are leaving banks as the growth of direct ...

ICBC opens two branches in Pakistan: The Industrial and Commercial Bank of China (ICBC), China's largest commercial bank, inaugurated two branches in Karachi and Islamabad respectively on Friday. Addressing the ceremony in Islamabad, Pakistani President Asif Ali Zardari said the ICBC initiative to open branches in ...

Shanghai's international board 'closer and closer': China is actively pushing forward an international board at the Shanghai Stock Exchange, senior officials and regulators told the Lujiazui Forum in Shanghai yesterday. "I want to tell you all that the international board is coming closer and closer to us," said Shang Fulin, ...

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