finance

China's largest general, non-life insurer, PICC Property and Casualty Limited (PICC P&C), is striving to become one of the top five global insurers by premium volume in the next five to ten years, according to a top official of the company. Wang Yincheng, president of the PICC P...
The Industrial and Commercial Bank of China (ICBC) said its trade financing business has posted robust growth in the first quarter, with domestic subsidiaries conducting almost 290 billion yuan of in-balance-sheet trade financing, up 42.58 percent year on year. Meanwhile, the ...
Goldman Sachs set up its first yuan-denominated private-equity fund in Beijing yesterday, signaling the United States investment bank's long-term commitment to China, according to a source familiar with the deal. The 5 billion yuan (US$769 million) fund will mainly invest in ...
China Investment Corporation (CIC), is China's sovereign wealth fund with $300 billion in reserves. China Investment Corp (CIC), the country's $300 billion sovereign wealth fund (SWF), hasn't got new fund from the central government, said a senior executive on Thursday. Jin Liqun...
China's central bank announced Thursday that it will raise the reserve requirement ratio (RRR) of the country's lenders by 50 basis points from May 18, the fifth such rise this year. The move will lift the RRR for China's large financial institutions to a record high of 21 ...
The People's Bank of China (PBoC), China's central bank, asked commercial banks to report on demand for three-year bonds Monday, prompting market speculation that it may resume selling three-year bills Thursday. A three-year bond offering, which would come in the way of April CPI ...
China's new yuan lending rose 8.8 percent in April on a monthly basis, despite the government's frequent moves to curb liquidity.[China Daily] China's new yuan lending in April stood at 739.6 billion yuan ($113.8 billion), 8.8 percent higher than that in March, despite frequent ...
RMB business development in Hong Kong, with relatively limited RMB deposits, will not pose risks to financial stability on the mainland, said K C Chan, secretary for financial services and the treasury of the city government on Wednesday. Though Hong Kong's RMB offshore business ...
Shanghai plans to expand its pilot scheme to allow more foreign investors to join yuan-denominated private-equity funds so that they can invest money raised abroad in China without seeking permission from the national foreign exchange regulator. The review of a second batch of ...
Chinese banks extended 739.6 billion yuan (113.9 billion U.S. dollars) in local currency loans in April, a decrease of 20.8 billion yuan from a year earlier, the central bank said Wednesday. By the end of April, the balance of outstanding yuan-denominated loans stood at 50.21 ...
Chinese underwriters are losing out to international banks in a record year for issuance of yuan-denominated bonds in Hong Kong. That's as companies seek arrangers that are able to attract the most global investors. Bank of China Ltd, which managed the most dim sum bond sales ...
Consumption confidence among Chinese bankcard holders firmed as more used their cards to pay for non-necessity expenditure as food prices fell in April, an industry index showed Monday. The bankcard consumer confidence index grew to 86.8 in April, up 0.08 point from March. But it ...
The former chief executive officer of China Galaxy Securities Co has been sentenced to death with a two-year reprieve for taking bribes of 15.46 million yuan (US$2.38 million) and profiting by nearly 100 million yuan from insider trading. Xiao Shiqing, 47, was also a former ...
BEIJING - China reaffirmed on Friday that it is not looking at pursuing a substantial trade surplus with the United States. "China's policy is clear-cut: we are not seeking a large trade surplus," Vice Finance Minister Zhu Guangyao said during a press briefing on Friday, days ...
The country's seventh-largest lender by assets, China Citic Bank Corp, plans to cut lending in the real estate market due to "severe" risks in the sector. Analysts say the measure will lead to more trouble for developers trying to secure funding and market restructuring. Citic ...
China Minsheng Banking Corp Ltd (CMBC) said on Wednesday it has received the go-ahead from regulators to set up three more rural banking units, continuing a trend among domestic lenders to tap into the country's rural area. The three units, with a combined registered capital of ...
The growth of Chinese banks' foreign exchange surpluses from bank-to-client transactions accelerated in March, helping to contribute to China's rapidly expanding foreign exchange reserves, according to the State Administration of Foreign Exchange (SAFE). More foreign currencies ...
China's major banks have largely met stringent new regulations concerning capital requirements, and no large-scale capital supplements are needed, an official with China's banking regulator has said. In an effort to limit potential risks in China's credit expansion, the China ...
China's banking regulator announced stricter regulation rules for commercial banks Tuesday to help improve capabilities of the country's banking and financial institutions in combating risks. The China Banking Regulatory Commission (CBRC) said it would set the minimum capital ...
As of the end of 2010, China has issued an aggregate number of 2.415 billion bank cards, an average of 1.81 cards per capita. Throughout 2010, 25.756 billion transactions have been done on bank cards, with a transaction volume of RMB 246.76 trillion Yuan. The penetration rate of ...
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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 ...