finance

The People's Bank of China (PBOC), the central bank, said Thursday that new yuan-denominated loans stood at 2.24 trillion yuan (342.83 billion U.S. dollars) in the first quarter of 2011. The figure was 352.4 billion yuan less than that in the same period of last year, said the ...
China aims to set this year's social financing amount at around 14 trillion yuan (2.14 trillion U.S. dollars), the People's Bank of China, or the central bank, said Thursday at a news briefing. The figure was smaller than the 14.27 trillion yuan in 2010, the central bank said in ...
Chinese banks will face a tougher task of liquidity management, as the high loan-to-deposit ratios of many commercial banks have prompted the banking regulator to consider further tightening measures, analysts said. Commercial banks usually have incentives to issue more loans to ...
Maverick Chen stared at his computer screen showing charts of stocks, assessed them against his portfolio and smiled. "The banking shares have rallied after underperforming the market," the 33-year-old retail investor said. Chen bought shares of three banks - the Industrial and ...
The trial of China's new Qualified Foreign Limited Partnerships (QFLP) policy is proving to be a hit with overseas private equity (PE) companies, who are showing interest in the direct-investment channel. The policy allows a certain number of foreign PE funds to make equity ...
Hong Kong-based conglomerate CITIC Pacific Limited is expected to complete its first concurrent dual tranche perpetual hybrid and senior unsecured notes offering this week, said a person close to the matter. The offering, the first such dual tranche to come out of Asia, comprises ...
Asian economies will maintain sound economic growth over the next two years despite challenges from rising commodity prices and geopolitical uncertainty, the Asian Development Bank (ADB) said Wednesday. The Manila-based lender's annual economic report, which analyzes 45 Asian ...
One of the largest Chinese private conglomerates, Shanghai Fosun High Technology (Group) Co Ltd (Fosun Group), is capable of managing assets of more than 1 trillion yuan ($150 billion) with its private equity platforms, said a top company official. The company will also look for ...
Bank of China (BOC) Hong Kong Ltd has cut its interest rate for yuan deposits in Hong Kong. That's after money held in accounts rose to a record in February, reflecting increased demand for trade and investment in the currency. The lender, the city's sole clearing bank for yuan ...
Shanghai on Friday signed an agreement to launch the city's first financial prosperity index. The agreement underscores the city's determination to become an international financial center by reflecting the development of, and problems with, its financial sector. The index, which ...
China Unionpay, a national bank card association, and China Construction Bank (Asia) on Thursday launched a dual-currency credit card in Hong Kong to facilitate card holders who travel across the mainland and Hong Kong. The card has two accounts that enable transactions to be ...
Hong Kong's total deposits with authorized institutions fell 0.5 percent year on year in February, but Renminbi deposits grew 10 percent to 407.7 billion yuan (about 62.15 billion U.S. dollars), the Monetary Authority of Hong Kong said in a statement on Thursday. The total ...
The Industrial and Commercial Bank of China, the nation's largest lender by assets, on Wednesday reported a 28.3 percent increase in after-tax profits in 2010 as the country's fast economic growth boosted credit demand and loan margins. After-tax profits increased to 166 billion ...
Industrial and Commercial Bank of China (ICBC) Ltd, China's largest bank by market value, said on Wednesday that loans to local governments have been reduced and that it will continue to expand abroad by setting up four more branches. Yang Kaisheng, the director of ICBC, said ...
The Chinese mainland is actively considering an "appropriate way" to set up a cross-Strait currency clearing mechanism and expects early progress in this regard, a government spokeswoman said Wednesday. Expanding cross-Strait economic exchanges and increasing mutual visits ...
China's banking regulator will strictly control bank loans to real estate and local governments this year to curb risks, while the industry reported that its profit rose at the fastest pace in three years in 2010. The combined net income of the industry soared 35 percent last ...
Liu Mingkang, chairman of CBRC, said earlier that risks brought by loans to local governments through financial vehicles are still prominent and urged banks to re-evaluate credit risks by analyzing projects on a case-by-case basis. China's banks made a net profit of 899.1 billion ...
Metlife Inc has gained regulatory approval to merge its two life-insurance joint ventures in China to consolidate its business in the rapidly growing market. The largest life insurer in the United States has two equally-owned joint ventures in China - United MetLife Insurance Co ...
A woman passes the logo of CITIC Securities at a branch of the security brokerage house in Shanghai.The company could raise about $2.8 billion if it can sell H shares at a premium over its mainland-listed A shares. Shares of Citic Securities Co Ltd jumped 1.71 percent at the ...
The first China-outbound renminbi fund may seek exit strategies in its invested companies by listing them on the stock exchanges in Europe, Hong Kong or the proposed international board on the Shanghai Stock Exchange, according to Andre Loesekrug-Pietri, chief executive officer ...
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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 ...