finance

An HSBC Bank (China) Co Ltd outlet in Shanghai. [China Daily] HSBC, Europe's biggest lender, is set to continue its expansion on Chinese mainland and will set up 15 new outlets in cities and three rural outlets this year, a senior executive said on Tuesday. "As the central bank ...
The value of China's futures transactions in the first two months of this year rose 38.44 percent year on year to 19.16 trillion yuan (about 2.92 trillion U.S. dollars), according to the China Futures Association. The trading volume, however, was down 30.05 percent from the same ...
Commerzbank, Germany's second-largest lender, announced on Monday ambitious plans with a cross-border focus for corporate customer business with China and Asia. It expected its corporate banking business volume in the world's second-largest economy to increase by 20 percent this ...
Retail banks in emerging markets saw increasing consumer confidence in 2010, according to a new report from Ernst & Young, one of the world Big Four auditors. The new report, titled A New Era of Customer Expectation, comes after Ernst & Young conducted a global survey of more ...
EquiLend, the automated securities finance trading platform, has announced they have opened an office in Hong Kong. EquiLend Asia Limited was established on Monday, February 14 and will service clients across the Asia Pacific region. Andrew McCardle has been appointed to head the ...
China will ensure the growth of new loans to rural areas and small enterprises this year, the banking regulator said on Thursday. That's despite the likelihood that the People's Bank of China will restrain overall lending to curb excessive liquidity. "We will ensure that the ...
Hong Kong-based AIA is one of the world's top 10 insurance companies. [CFP] Hong Kong-based AIA, one of the world's top 10 insurance companies, said Friday morning that its net profit after tax soared 54 percent year on year to 2.7 billion U.S. dollars in the fiscal year ending ...
JPMorgan, a New York-based bank , hired about 100 bankers last year for its corporate bank and several hundred supporting staff like credit officers. [CFP] JPMorgan hired the most number of bankers in China for its global corporate bank business last year and it is confident that ...
An increasing number of Chinese firms are adopting credit insurance as a tool to manage credit risk despite experiencing less overdue payment over the recent years, a latest survey has found. The results of the survey conducted by international credit insurance company Coface and ...
The Sydney-based Commonwealth Bank of Australia (CBA) has opened its first county bank branch in China's key farming province to offer lending, deposit and fee-based services to small and medium-sized enterprises (SME) and business owners, the bank said. The branch, in Jiyuan ...
China plans to boost the economy of the southern island of Hainan by encouraging local companies to raise funds in the capital market and develop the province into an international tourist resort. At least 10 local companies will list their shares through an initial public ...
China should account for 8 to 9 percent of global mergers and acquisition (M&A)activity this year, continuing close to its strong levels in 2009 and 2010, according to the head of JPMorgan's China M&A unit, Brian Gu on Tuesday. Consolidation in the consumer retail, real estate, ...
Singapore snub Singapore is slowly losing its luster as a capital-raising venue for Chinese mainland companies. Over a dozen mainland firms trading on the Singapore Exchange are expected to seek dual listings in Taiwan, Hong Kong and Seoul in 2011, exceeding last year's total, ...
Hong Kong will foster the further development of offshore RMB business to enhance the competitiveness of its financial markets, John Tsang said on Wednesday in his budget speech. Hong Kong will maintain close contact with relevant Chinese mainland authorities as well as the ...
China will issue 28 billion yuan (4.25 billion U.S. dollars) of book-entry treasury bonds and 60 billion yuan (9.12 billion U.S. dollars) of certificate treasury bonds in the coming days, the Ministry of Finance said on Wednesday. With a term of 30 years, the bonds will have a ...
Chinese shares closed higher Wednesday with the benchmark Shanghai Composite Index up 7.12 points, or 0.25 percent, to 2,862.63. The Shenzhen Component Index climbed 0.16 percent, or 19.37 points, to 12,492.71 points. Combined turnover shrank to 244.46 billion yuan (37 billion U...
The People's Bank of China (PBOC), or the central bank, said on Tuesday that it has implemented "dynamically differentiated required reserve ratios" among 40 local banks with low capital adequacy ratios (CAR) and which witnessed rampant growth in lending since January. A PBOC ...
The China Banking Regulatory Commission (CBRC) confirmed on Monday evening that it is drafting a slew of new rules to set tougher criteria for capital adequacy, provisions, leverage, and liquidity conditions for lenders. The country's banking regulator told the China Securities ...
Legend Holdings Ltd., the parent company of China's biggest PC manufacturer Lenovo, plans tointends to go IPO in Hong Kong in 2014, domestic media the China Business News reported on Monday, citing the company's Chairman and President Liu Chuanzhi. Legend will wrap its core ...
The detention of a senior finance official has revealed hidden practices in China's government bonds market where banks offer bribes to officials in exchange for help to nail bids. Zhang Rui, a deputy director at the Department of Exchequer in the Ministry of Finance, has since ...
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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 ...