finance

China Everbright Bank , a mid-sized lender, will issue no more than 12 billion shares in Hong Kong. China Everbright Bank will issue no more than 12 billion shares in Hong Kong, the bank announced Sunday. The H-share IPO will be made through a public offering and global ...
A selection panel has been set up to identify and consider suitable candidates globally for appointment as Securities & Futures Commission Chief Executive Officer, when the contract of incumbent Martin Wheatley expires in June, the Hong Kong government said on Saturday. According ...
The People's Bank of China (PBOC), the central bank, announced Friday that it would increase the bank reserve requirement ratio of 50 basis points beginning Feb. 24. The hike, the second this year and the eighth since the beginning of last year, is the latest move to soak up ...
China's banking regulator has asked banks to guarantee credit support for grain production and water projects this year, it said in a statement on its website Friday. Lenders should ensure growth of credit to the agricultural sector of at least the average rate of loans to other ...
China's central bank said in a report released Friday that it would intensify efforts to prevent money laundering over the next five years. The People's Bank of China (PBOC) said it had penalized more than 1,900 financial institutions for violating money laundering regulations ...
Shanghai has applied for central government approval of its plans to build an insurance exchange, according to one of the people responsible . The move marks another step in the eastern financial hub's drive to become an international financial center by 2020. Xu Wenhu, director ...
China is looking to establish an effective regulatory system for total social financing, an official with the country's central bank said Thursday. The new bank lending volume does not completely reflect the relationship between finance and the economic conditions and the actual ...
China's banks should be cautious in using external credit ratings when providing loans to companies, the country's banking regulator said Thursday. Commercial banks should avoid using external credit ratings as the direct criteria of lending, the China Banking Regulatory ...
Shares of Huaxia Bank rose 1.21 percent to 11.68 yuan in morning trading in Shanghai Thursday, after it officially told the market that it had received approval for plans to raise up to 20.8 billion yuan (3.2 billion U.S. dollars) through a private placement. In a statement filed ...
The recent financial crisis has exposed critical vulnerabilities in the modern financial system. However, the current reforms proposed by the Financial Stability Bureau and global standard setters, such as the Basel Committee on Banking Supervision, are certainly a step toward ...
Small- and medium-sized companies in China are turning to pawnshops for quick and easier money-borrowing services, even at much higher costs, as they are finding it difficult to get bank loans due to tight lending policies. The central bank's move to raise the benchmark interest ...
Chinese banks extended 1.04 trillion yuan ($157.8 billion) of new loans in January amid the country's renewed efforts to tame excessive liquidity and rising inflation. The figure was 318.2 billion yuan lower than a year ago, according to the People's Bank of China (PBOC), the ...
The People's Bank of China (PBOC), the country's central bank, said Tuesday that new yuan-denominated lending stood at 1.04 trillion yuan (157.72 billion U.S. dollars) in January. The figure was 318.2 billion yuan less than January last year, said a statement on the PBOC website. ...
Bank of East Asia, the largest independent local bank in Hong Kong, said Tuesday that it achieved a record after-tax profit of 4.3 billion HK dollars (552.4 million U.S. dollars) in 2010, jumping 60.8 percent from a year earlier. In an annual-result statement filed to the Hong ...
A girl reads a cell phone message in front of an ad for China Merchants Bank (CMB) in Shanghai. CMB is the only commercial bank chosen for a deposit rates liberalization trial.[China Daily] Chinese banking authorities have started a pilot program at China Merchants Bank (CMB) to ...
Agricultural Bank of China (AgBank), the country's fourth largest lender, said on Friday that it would pay 2.59 billion yuan (392 million U.S. dollars) for a 51 percent stake in Beijing-based Jiahe Life Insurance Co. The bank said that its board of directors had approved its plan ...
The People's Bank of China, the central bank, said Saturday the country had issued 5.1 trillion yuan (773.3 billion U.S. dollars) worth of bonds in 2010, an increase of 3.1 percent over that in 2009. National debt, debt issued by policy banks and short-term financing bonds ...
Belgian financial group KBC is looking for buyers to take over its 49 percent stake of a Shanghai-based joint venture fund manager because the crisis-hit European firm is ready to withdraw from the Chinese mainland. Sources told Shanghai Daily Friday that the firm is in the final ...
China's securities regulator said on Friday that it would allow qualified futures firms to run consulting businesses on futures investment for profits. The businesses include consultations on risk management and futures transactions, as well as futures research and analysis, the ...
China will establish easy financing channels for companies that manufacture energy-saving and environment-protecting equipment, the Shanghai Securities Journal reported Friday. The government will issue its 12th Five Year Plan (2011-2015) for this sector soon, Zhou Changyi, ...
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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 ...