Monday, April 12, 2021

Yearly Archives: 2018

CBIRC Mandates Licenses for Chinese Banks Operating Away from Home

China's banking regulator hopes to curb the financial risk created by the unlicensed operations of the country's banks beyond their own home jurisdictions. The China...

Ailing Stock Market Means Less Concern over Asset Bubbles: PBOC Official

A senior official from the Chinese central bank says that the poor performance of the stock market in 2018 has reduced hazard in relation...

Bank of China and CCB Garner Approval for Wealth Management Subsidiaries

Two of China's big four state-owned banks have obtained approval from Beijing to launch their own wealth management subsidiaries. In mid-November Bank of China became...

Chinese Central Bank Says No Deluge of Monetary Stimulus in 2019

A senior official from the People's Bank of China (PBOC) has ruled out any major loosening of monetary policy in 2019 to shore up...

Industrial Bank to Invest 10B Yuan in Debt-for-Equity Subsidiary

Fuzhou-based Industrial Bank has announced the launch of its own debt-for-equity subsidiary. Industrial Bank plans to invest 10 billion yuan in the launch of the...

Pre-tax Profits of 40 Leading Chinese Banks Expected to Exceed $319B in 2018

A new report from McKinsey & Company forecasts a significant rise in the risk-adjusted return on capital for Chinese banks following improvements to pricing...

Blockchain and Fintech Incubation Centre Commences Operation in Guangdong

A new blockchain and fintech incubator has just opened for business in the Guangdong Financial Hi-tech Zone. The "Blockchain +" Fintech Industry Incubation Centre (“区块链+”金融科技产业孵化中心)...

Local Government Bond Issuance Expected to Accelerate to 3 Trillion Yuan in 2019

Domestic observers expect local government bond issuance to further expand and accelerate in 2019, as Beijing contends against downwards economic pressure. Mao Jie (毛捷), a...

PBOC Issues First Ever Penalty for Refusal to Accept Cash Payment

As the cashless revolution sweeps China's consumer market, the Chinese central bank has started to issue fines to businesses that refuse to accept cash...

China’s Fintech Ecosystems Scaling and Innovating More Rapidly than in the West: McKinsey

A new report from McKinsey & Company says that China's fintech ecosystems are achieving scale and innovation at a more rapid pace than their...

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Paypal Founder Peter Thiel Worries Bitcoin Could Be Financial Weapon for China Despite Domestic Ban

One of America's leading tech entrepreneurs believes that China could use the Bitcoin cryptocurrency as a "financial weapon" against the US should...

Chinese Central Bank Reportedly Orders Lenders to Keep 2021 Credit Growth on Par with Last Year

The People's Bank of China (PBOC) has reportedly issued an order for leading banking sector financial institutions to scale back credit growth...

Alibaba Hit with $2.78B Anti-Trust Penalty by China’s Market Regulator

Jack Ma's Alibaba has been slapped with a massive fine by China's market regulator following the launch of an anti-trust investigation into...

Digital Renminbi Makes Its Debut on Renmin University Campus

Ongoing trials of China's Digital Renminbi have brought the central bank digital currency to one of the country's most prestigious tertiary institutions....