Banks

Businesses May Not Reject Cash, PBOC Official Says

Businesses May Not Reject Cash, PBOC Official Says

For businesses to reject cash in yuan is illegal, an official from China’s central bank said.

Aug 3, 2017
Chen Juan
China Forex Regulator Denies Tightening Control of Licit Offshore Financing

China Forex Regulator Denies Tightening Control of Licit Offshore Financing

The State Administration of Foreign Exchange (SAFE) has refuted recent media reports that it was conducting checks on overseas acquisition-related…

Aug 2, 2017
Chen Juan
BRICS New Development Bank Aims to Issue US Dollar Bonds in 2018, Says Its Vice President

BRICS New Development Bank Aims to Issue US Dollar Bonds in 2018, Says Its Vice President

After receiving AAA-rating by two domestic rating agencies in China, the New Development Bank (NDB), formerly referred to as the…

Aug 2, 2017
Zhou Ailin
CITIC Bank Unveils China's First Block Chain LOC Information Transmission System

CITIC Bank Unveils China's First Block Chain LOC Information Transmission System

China CITIC Bank Corp. [SHA:601998] has rolled out the country’s first block chain-based letters of credit (LOC) information transmission system.

Jul 31, 2017
Chen Juan
Moody's Upgrades China’s Banking System Outlook to Stable on Efforts to Combat Shadow Banking

Moody's Upgrades China’s Banking System Outlook to Stable on Efforts to Combat Shadow Banking

Moody's Investors Service, the bond credit rating service of Moody’s Corporation, has revised its outlook for China's banking system to…

Jul 27, 2017
Dou Shicong
Banks Cut LeEco Employees Credit Lines; One Plummets to USD0.15

Banks Cut LeEco Employees Credit Lines; One Plummets to USD0.15

China Construction Bank Corp. [SHA:601939] has responded to claims made by a former Leshi Holding (Beijing) Co. (LeEco) worker who…

Jul 26, 2017
Xu Wei
Long-Term, Large-Scale Controls Can’t Deal With Capital Outflow Pressures, PBOC Vice Governor Says

Long-Term, Large-Scale Controls Can’t Deal With Capital Outflow Pressures, PBOC Vice Governor Says

The International Monetary Fund recently published the minutes of the Fifth Joint Conference People’s Bank of China and IMF, which…

Jul 25, 2017
Xu Wei
M2 Growth Fell to 9.4% at June’s End; Slowdown May Be Part of New Normal, PBOC Says

M2 Growth Fell to 9.4% at June’s End; Slowdown May Be Part of New Normal, PBOC Says

Broad money supply (M2) growth in China remained relatively low at the end of June, and slower M2 growth may…

Jul 13, 2017
Xu Yanyan
Yuan’s Central Parity Goes Up 115 Points Today, Biggest Intraday Rise Since June 30

Yuan’s Central Parity Goes Up 115 Points Today, Biggest Intraday Rise Since June 30

The yuan’s central parity against the dollar closed at 6.7868 today, up 115 points from 6.7983 recorded yesterday. The exchange…

Jul 12, 2017
Ma Yifei
Brexit Is a Challenge and an Opportunity for ICBC, GM of Bank’s London Branch Says

Brexit Is a Challenge and an Opportunity for ICBC, GM of Bank’s London Branch Says

Britain’s departure from the European Union is a challenge and an opportunity for the Industrial and Commercial Bank of…

Jul 11, 2017
Ma Yifei
Major Banks Go Through Sub-Branch Strategic Adjustment, Restructuring, Cuts

Major Banks Go Through Sub-Branch Strategic Adjustment, Restructuring, Cuts

Banks are restructuring their community sub-branch strategy after establishing what seems to be an excessive number of sub-branches, reported Beijing Business Today.

Jul 10, 2017
Xu Wei
Royal Bank of Scotland Sells Its Stake in Chinese Joint Venture to Guolian Securities for USD52 Million

Royal Bank of Scotland Sells Its Stake in Chinese Joint Venture to Guolian Securities for USD52 Million

The Royal Bank of Scotland (RBS) has agreed to transfer its 33.3 percent stake in Hua Ying Securities to Guolian…

Jul 7, 2017
Xu Wei

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