finance

The Industrial and Commercial Bank of China, the country's largest asset lender, said on Tuesday that its international settlement volume rose 44 percent year on year to reach 1.06 trillion U.S. dollars last year. The company's first quarter international settlement volume for ...
The Israeli investment giant Infinity Group said it will continue to focus on technology transfer to succeed in the fierce private-equity (PE) market. "We buy technologies from Israel and license them in China," said Amir Gal-Or, Infinity Group managing director and founder. ...
China Minsheng Banking Corp Ltd's booth at a finance exhibition in Beijing. Industry analysts expect net income for Chinese banks to increase 30 percent on average in the first quarter and to maintain that pace in the second quarter, with small and city commercial banks ...
The National Council for Social Security Fund (SSF) has promised to invest 10 billion yuan (1.5 billion U.S. dollars) in the China Development Bank (CDB), one of the country's three policy lenders, the bank announced Wednesday. Under a contract signed by both sides, as well as by ...
China's banking regulator said Tuesday that its lowest capital adequacy ratio (CAR) imposed on the country's five state-owned commercial banks has been 11.5 percent. China has implemented differentiated capital control targets for the five banks under the regulatory system of ...
Shanghai-based Haitong Securities Co plans to sell shares in Hong Kong for the first time to raise 14.4 billion yuan (US$2.2 billion). The fifth-biggest Chinese mainland brokerage by market share will issue new shares that account for no more than 13 percent of its overall ...
China's top banking regulator said Tuesday it has set different capital adequacy ratio targets for its five biggest lenders and reiterated that the regulatory minimum ratio is 11.5 percent. "The regulator's minimum capital requirement on the five biggest banks remains at 11.5 ...
The central bank is planning new investment funds to diversify holdings in the nation's $3 trillion foreign exchange reserves, to hedge against depreciation and inflation risks, according to a news report. The proposed funds will invest some of the foreign reserves in energy and ...
The China Securities Regulatory Commission (CSRC) recently accelerated the review process for initial public offerings (IPOs), Shanghai Securities News reported Monday. The CSRC accepted nearly 200 IPO applications in the first quarter for main board and Shenzhen Small- and ...
While the Chinese economy continues to be robust, the country's economic backbone - the accounting and finance sector - is at a critical juncture for its workforce. Linda Wang Li Ran, strategic development director, Greater China, at The Institute of Chartered Accountants in ...
The revaluation of the yuan will not be an effective weapon against inflation but rather a consequence of growing inflationary pressure, a senior officer from Bank of China said. Deng Lei, deputy general manager of the treasury department of the Shanghai branch, Bank of China, ...
China should reduce its excessive foreign exchange reserves and further diversify its holdings, Tang Shuangning, chairman of China Everbright Group, said on Saturday. The amount of foreign exchange reserves should be restricted to between $800 billion to $1.3 trillion, Tang told ...
China Investment Corporation (CIC), the nation's sovereign wealth fund, is planning to further expand its overseas investment in developing economies, said Lou Jiwei, the company's chairman. Lou said that the rate of return from CIC's investments in 2010 was almost the same as ...
The US-based life insurer MetLife Inc is considering a multiple listing to fuel its expansion globally after acquiring American International Group Inc's international life insurance unit American Life Insurance Co (Alico), the company's president of international business said ...
Overseas banks in Shanghai expect a slower revenue growth this year amid the Chinese government's tightening policy, the Shanghai bureau of the China Banking Regulatory Commission said in a statement yesterday. Meanwhile, HSBC, Standard Chartered and Bank of East Asia will ...
French bank Societe Generale plans to strengthen its capacity in the commodities-hedging business in China in order to tap the country's growing appetite for natural resources, the bank's top executive told China Daily. The Paris-based lender aims to utilize its strong presence ...
Wells Fargo & Co said it will apply for a license to conduct yuan business in China, as it sees great business opportunity in the booming yuan-denominated trade. The fourth-biggest bank in the United States by assets, Wells Fargo currently has a 450-person team in Hong Kong that ...
The central bank raised the amount of money that banks must hold in reserve by 50 basis points on Sunday - the fourth hike this year - to mop up excessive liquidity and control inflation in the world's second-largest economy. The People's Bank of China, the central bank, ...
China Credit Rating Co, Ltd, the country's first rating agency to charge investors, said Friday it signed agreements with 17 financial institutions, including China Development Bank and Agricultural Bank of China, to provide credit rating services. According to the agreements, ...
China's Ministry of Finance (MOF) said Friday it will sell 10 billion yuan (1.53 billion U.S. dollars) in book-entry discount treasury bonds next week at an annual interest rate of 2.55 percent. The short-term bonds will carry a maturation term of 91 days and be issued on a ...
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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 ...