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Banks

Development Finance Should Use Leverage Effect to Back Belt and Road, PBOC Official Says

Development Finance Should Use Leverage Effect to Back Belt and Road, PBOC Official Says

The traditional development finance model may struggle to meet the construction funding needs of the Belt and Road Initiative and…

Aug 14, 2017
Du Qingqing
Dollar-Yuan Exchange Rate Closes at 10-Month High of 6.7075

Dollar-Yuan Exchange Rate Closes at 10-Month High of 6.7075

The yuan’s central parity rate against the US dollar hit a 10-month closing high of 6.7075 today, appreciating 109 basis points from yesterday.

Aug 9, 2017
Xu Wei
Chinese Banking Regulator Bans Debt-For-Equity Swaps by Zombie Companies

Chinese Banking Regulator Bans Debt-For-Equity Swaps by Zombie Companies

The China Banking Regulatory Commission has drafted a measure to ban zombie firms, businesses acting in bad faith and companies engaged…

Aug 9, 2017
Xu Wei
Visa Submits Bankcard Clearing Business Application to PBOC

Visa Submits Bankcard Clearing Business Application to PBOC

International credit card brand Visa Inc. [NYSE:V] said it has submitted an application for setting up a bankcard clearing body…

Aug 4, 2017
Dou Shicong
China’s Forex Regulator Asks Bank Card Issuers to Report Personal Overseas Consumption from Aug. 21

China’s Forex Regulator Asks Bank Card Issuers to Report Personal Overseas Consumption from Aug. 21

Following an announcement in June that China is to collect domestic bank cards’ cash withdrawal and consumption information occurring outside…

Aug 4, 2017
Chen Juan
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

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