Thursday, July 29, 2021
Home Finance

Finance

Alipay Teams up with UnionPay as Beijing Cuts Ties Between Payments Sector and Banks

The world's largest mobile payments platform and the world's largest card payment organisation have entered a new cooperative partnership. Alipay and China UnionPay have executed...

CITIC Set to Launch First Consumer Finance Firm Involving Trust Company

CITIC Trust has obtained approval from regulators for the launch of a new consumer finance company, marking the first foray by a Chinese trust...

Loans to Small and Micro-enterprises Made Exempt from Value-added Tax

The central government has launched new measures to raise levels of financial inclusion on the part of Chinese lenders. China's Ministry of Finance and the...

Beijing Cancels Ceiling on Purchase of Local Government Bonds by Underwriting Banks

China's banking and insurance regulator has cancelled the ceiling on the purchase of local government bonds by underwriting banks as part of efforts to...

Insurers Hit with Nearly 35mn Yuan in Fines over July and August

The China Banking and Insurance Regulatory Commission (CBIRC) is stepping up its scrutiny of domestic insurers with hefty penalties dispensed over the past two...

Local Government Debt Issuance Hits Two Year High on Special Bond Surge

Debt issuance by China's local governments has hit a two year high in terms of both scale and net financing amount as regional authorities...

CBIRC Expected to Cut Senior Positions with Transfer of Vice-Chair Chen Wenhui

One of the Chinese banking regulator's senior-most officials has been transferred to the national social security fund according to domestic media reports, in a...

Shanghai-London Stock Connect Set to Be Key Proving Ground for Chinese Depository Receipts

The Chinese securities regulator has released the draft version of new rules concerning the use of Chinese Depository Receipts (CDR) and Global Depository Receipts (GDR)...

China’s Third Party Payments Sector Sees Boom in Cross-border Transactions

China's third party payments sector has seen a surge in the volume of cross-border transactions, with industry observers expecting robust growth going ahead as...

Beijing Rescinds Caps on Foreign Ownership of Chinese Banks

The Chinese central government has removed restrictions on foreign investment in domestic banks and managers of non-performing debt, despite escalating trade tensions with the...

Cut in Risk Weighting of Local Government Bonds Could Unleash 3 Trillion Yuan in Loans

Beijing's plans to slash the risk weighting of local government bonds in order to enhance their appeal to Chinese banks could potentially unleash 3...

State Council Reiterates Opposition to “Flood-style Irrigation” of Chinese Economy

The State Council has reiterated its commitment to ensuring that China's financial sector better services real economy, as well as the avoidance of any...

Latest stories

Ministry of Industry and Information Technology Launches Six Month Crackdown on China’s Internet Sector

The Chinese central government has launched a far-reaching six month crackdown on China's massive online economy, in the wake of aggressive action...

China’s Smaller Banks Achieve Breakthroughs in Fintech Adoption: KPMG

Research from international consultancy KPMG highlights rapid growth in the adoption of fintech by Chinese banks at the smaller end of the...

China’s Cloud Computing Market Grew over 56% in 2020: CAICT White Paper

A new white paper on China's cloud computing sector from one of the country's leading science and technology think tanks indicates that...

Bank of Communications Grabs Approval for $9.22 Billion Tier-2 Capital Bond Issue

One of China's big state-owned banks had cinched approval for a new issue of bonds to shore up its capital levels.