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Banking Finance

Bank of China and Shanghai Government Enter Strategic Cooperative Agreement

Big state-owned lender Bank of China (BOC) has just entered a new strategic agreement with the municipal government of Shanghai.

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Banking Finance

China’s Banking Regulator Unveils Three Year Plan to Improve Corporate Governance, CCP to Play Greater Role

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).

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Banking

“Bad Banks” Become “Good” Via Corporate Governance Reforms, CCP Needs to Play Greater Role: CBIRC

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.

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Banking Fintech

Ping An Bank Posts 15.5% YoY Rise in First Half Revenues, 11.2% Net Profit Drop

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.

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Economy Finance

August Loan Prime Rate Remains Unchanged for Fourth Consecutive Month

China’s loan prime rate (LPR) for August has remained unchanged for the fourth straight month.

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Banking Finance

China Everbright Bank Obtains Approval for Consumer Finance Operations in Beijing

Commercial lender China Everbright Bank has just obtained approval for its consumer finance vehicle to commence operations in the Chinese capital.

Categories
Banking

Chinese Bank Inspectors Allowed to Collect Electronic Data as Evidence for Administrative Penalties

China’s financial regulators will significantly increase some of their investigatory powers starting from the month of August.

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Banking Fintech

China’s Big Five State-owned Banks Have All Set up Their Own Fintech Subsidiaries

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.

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Banking Fintech

JDD Enters Strategic Cooperative Agreement with Jinshang Bank for Fintech Collaboration

The fintech unit of e-commerce giant JD.com has entered a strategic cooperative agreement with Hong Kong-listed regional lender Jinshang Bank (ζ™‹ε•†ι“Άθ‘Œ).

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Banking Fintech

China’s Banking and Insurance Sectors Made IT Investments of USD$29 Billion in 2019

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.