Big state-owned lender Bank of China (BOC) has just entered a new strategic agreement with the municipal government of Shanghai.
The China Banking and Insurance Regulatory Commission (CBIRC) has just released a multi-year plan for improving corporate governance in the banking and insurance sectors, placing an especial emphasis on strengthening the role of the Chinese Communist Party (CCP).
The China Banking and Insurance Regulatory Commission (CBIRC) has pointed to the need for further corporate governance reforms and supervision from the Chinese Communist Party (CCP) to shore up the health of the country’s nationwide joint-stock commercial banks.
Fintech driven commercial lender Ping An Bank has seen a sizeable rise in its first half earnings despite the adverse impacts of the COVID-19 pandemic.
China’s loan prime rate (LPR) for August has remained unchanged for the fourth straight month.
Commercial lender China Everbright Bank has just obtained approval for its consumer finance vehicle to commence operations in the Chinese capital.
China’s financial regulators will significantly increase some of their investigatory powers starting from the month of August.
Five of China’s established big state-owned banks have already launched their own fintech subsidiaries amidst a broader shift towards adoption of fintech measures by the Chinese finance sector as a whole.
The fintech unit of e-commerce giant JD.com has entered a strategic cooperative agreement with Hong Kong-listed regional lender Jinshang Bank (晋商银行).
China’s banking and insurance sectors significantly beefed up their IT resource investments in 2019, amidst a push from regulators for improvements to Internet security.