Thursday, October 28, 2021

Zhongyuan Bank to Merge with Bank of Luoyang, Bank of Pingdingshan and Bank of CTS.JZ

China is set to see another merger of smaller provincial lenders, amidst a push to shore up the health and stability of the country's...

Shanghai to Investigate Use of Banking and Insurance Funds to Speculate in the Commodities Market

The Shanghai branch of China's banking regulator has announced that it will launch an investigation into illicit flows of banking and insurance funds into...

State Council Launches Action Plan to Achieve Peak Carbon Before 2030

China's highest government authority has issued a new plan to expedite efforts to fulfil the country's ambitious carbon mitigation targets on schedule. The State...

Net Value Wealth Management Products Issued by Chinese Banks Approaches 30,000

Net value wealth management products (WMP) have risen to the fore in China as the transitional period for new asset management rules that remove...

WeBank Tech Head Calls for Using Blockchain to Expedite China’s Legal Right to Data Portability

The chief technology officer of Tencent-backed neo-bank WeBank has called for exploring the use of blockchain technology to develop new models for implementing the...

Guangdong Province Banking Sector Sees Total Assets Rise 9.3% at End of Third Quarter

The Guangdong province banking authority has hailed stable operation of the regional banking sector in the third quarter of 2021. As of the end...

State Council Launches Action Plan to Achieve Peak Carbon Before 2030

China's highest government authority has issued a new plan to expedite efforts to fulfil the country's ambitious carbon mitigation targets on schedule. The State...

14 Listed Chinese Real Estate Firms Have One Year Probability of Default above 20%: S&P

At least 14 real estate firms listed in Hong Kong and mainland China have a one-year probability of default in excess of 20% as...

Financial Inclusion Micro-Loans Surge 25.2%, Banking Sector Assets Exceed 332 Trillion Yuan

The latest official data points to growth in financial inclusion loans to small businesses in China outpacing lending to other sectors of the economy....

Evergrande Crisis Will Not Have a Major Impact on Credibility of Real Estate Sector or Chinese Enterprises: Banking Regulator

China's banking regulator has sought to assuage concerns about the potential impact of property giant Evergrande Group's ongoing debt woes on the real estate...

Central Bank Chief Says Chinese Market Socialism Is “World Most Resilient System,” Highlights Role of Financial Inclusion in Response to COVID-19

The head of the Chinese central bank has touted the use of the country's financial inclusion campaign to help the economy to successfully weather...