Chen Junbo, the party secretary of China’s Insurance Regulatory Commission, has been placed under investigation by the Chinese authorities for serious breaches of duty.
The latest data points to a widespread decline in account rates since the end of 2016, with demand deposit rates provided by China’s big five banks all falling below the benchmark rate.
Shanghai Pudong Development Bank (SPD) has countered claims that the bank’s Chengdu branch was defrauded of billions of yuan.
Amidst an increasing challenging environment for the Chinese banking sector, Shenyang-based Shengjing Bank managed to pull-off double-digit revenue growth in 2016.
Bank of China launched its first two issues of non-performing asset backed securities at the end of March, including the lender’s first issue of securitised rights to non-performing personal credit cards.
The People’s Court of Shanghai’s Pudong Development Zone has sentenced a former senior executive with Bank of Communications to 6 years jail for receiving nearly 7 million yuan in bribes.
The Agricultural Bank of China (ABC) is amongst the first of China’s major banks to provide financial services in the country’s new set of inland free trade zones established towards the end of last year.
At a recent banking summit on capital markets held by Hua Xia Bank in Beijing, the joint-stocklender promoted a new integrated service plan for listed companies encompassing investment, financing, advisory and credit-related services.
China’s Industrial Bank Co. executed an agreement on 5 April for its largest ever bond conversion fund.
Senior figures from China’s big four banks have flagged a marked easing in residential property loans this year after the sector went on a spree in 2016.