Thursday, April 25, 2024

Monthly Archives: June, 2019

Bank of Communications Completes Industrial and Commercial Filing for Wealth Management Subsidiary

One of China's leading state-owned leaders has completed a key registration procedure for its wealth management subsidiary. Information from China's State Enterprise Credit Information...

China Merchants Bank Sues Everbright Securities Unit over Botched UK Media Acquisition

A legal dispute has arisen between several of China's leading financial institutions over a UK media acquisition which has run aground. China Merchants Bank...

Smaller Lenders Seen Consolidating in Wake of Baoshang Bank’s “Mini-Lehman” Moment

China's smaller banks are expected to undergo a wave of consolidation following the surprise government takeover of Inner Mongolian lender Baoshang Bank. Analysts say...

China’s Shortfall in Fintech Professionals Far Exceeds 1.5 Million: Ping An’s OneConnect

A senior executive from Ping An Group's fintech vehicle OneConnect (金融壹账通) has highlighted surging demand for qualified fintech professionals in China. A recent study...

PBOC’s New Deposit Insurance Fund to Provide Safety Cushion for 68 Trillion Yuan in Personal Deposits

The new depository insurance fund launched by the Chinese central bank is expected to provide a "safety cushion" for China's roughly 68 trillion yuan...

SWIFT Obtains Approval for Fully Invested Subsidiary in China, Anticipates Rise in Cross-border Renminbi Settlement

The Brussels-based Society for Worldwide Interbank Financial Telecommunication (SWIFT) says it has obtained approval from Beijing for the establishment of a fully invested subsidiary...

China and India Lead the World in Fintech Adoption: Ernst & Young Report

A new report from Ernst & Young (EY) indicates that China and India are the world leaders in terms of fintech adoption. EY's Global...

Debt-for-Equity Swaps Near 1 Trillion Yuan, Beijing Commits to Raising Private Enterprise Share

Official data indicates that the value of debt-for-equity swaps implemented in China is fast approaching one trillion yuan. "As of the end of April...

PBOC’s Shanghai Office Flags Support for Smaller Banks with Provisional Liquidity Issues, Punishment for Rumour Mongers

The Shanghai office of the Chinese central bank has flagged the provision of support to small and medium-sized lenders that meet with temporary liquidity...

China Issues First 5G Commercial Licenses to Four Companies

China has just issued its first batch of 5G commercial licenses to a slew of the country's leading telecommunications companies. On 6 June China's...

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