From The Financial Times: Sales of individual wealth management products in China shot up in the last quarter of 2007 as banks expanded their product offerings, the banking regulator said Wednesday. By the end of September there were 60 banking institutions in China offering individual wealth management services such as mutual funds, insurance products and […]
From Reuters via inquirer.net: Chinese banks need to be on high alert to international financial market risks, the country’s top banking regulator said in remarks published on Tuesday. Traditional business dealings and long-term corporate investment were being replaced with “high-risk and high-return short-term speculation”, said Liu Mingkang, chairman of the China Banking Regulatory Commission . […]
From Reuters via yahoo.com: China will push its banks to forge deeper into overseas markets for acquisitions and a global profile, a top bank regulator said on Sunday. “We will encourage Chinese banks to go abroad to participate in international competition and overseas acquisitions to improve global competitiveness,” Wang Zhaoxing, assistant chairman of the China […]
From Caijing.com.cn: The People’s Bank of China and the China Banking Regulatory Commission have announced plans to impose new real estate lending and credit policies aimed at quelling speculation through mortgage controls. Investors reacted to the announcement September 27 by pushing the Shanghai real estate compound index down nearly 4 percent to 303.25 points. At […]
From Caijing.com.cn: The Hongkong & Shanghai Banking Corp. (HSBC) received approval from China Banking Regulatory Commission(CBRC) to launch a small-sized rural bank in Hubei Province , the first rural bank established by overseas lender. This is HSBC’s second wholly-owned branch in China’s mainland after HSBC China was established in Shanghai. Vincent Cheng, Chairman of The […]
Currently, Chinese banks are in a transitional phase as the entire industry undergoes reform. Most recently, three senior Chinese government officials have recently been reassigned to head large commercial banks. From the Financial Times today, we learned that China Everbright Bank, the Shanghai Pudong Development Bank and the Agricultural Bank of China, are all assigned […]
From BBC News: China’s banking regulator has punished eight banks for illicity lending money to two state bodies that invested the cash in the stock and property markets. The China National Nuclear Corporation and China Shipping Group illegally used the billions of yuan loaned to them. The China Banking Regulatory Commission (CBRC) has now punished […]
After the success of Micro-lending in Bangladesh, China began to open rural community loans to farmers. From People’s Daily Online: China has opened 18 rural community banks by the end of May offering farmers easier access to loans and providing credit to businesses in the countryside that want to expand. The small lenders include nine […]
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