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Chinese Central Bank Makes Net Injection of $51.8 Billion via OMO on Tuesday

The People's Bank of China (PBOC) made a net injection of 350 billion yuan (approx. USD$51.8 billion) on 22 September via open...

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.

Bank of China Launches First Cloud-driven Idle Goods Trading and Poverty Alleviation Platform

Big state-owned lender Bank of China (BOC) has just launched a new cloud-powered idle goods trading platform as part of efforts to...

China Host to World’s Highest Mobile Banking Rate for Seniors, over 60% Victims of Fraud: HSBC Survey

A survey from HSBC has found that mainland China has the world's highest mobile banking penetration rate amongst its seniors demographic.

Rare Combination of High Money Multiplier and Low Excess Reserves Could Signal Economic Recovery for China

A leading analyst says that the rare combination of a record high money multiplier with low excess reserves signals the ongoing recovery...

Chinese Policy Bank ADBC Enters Cooperative Agreement with Alibaba’s Online Lender MYBank

Agricultural Development Bank of China (ADBC) and Alibaba-backed MYBank have launched what is reportedly the first comprehensive strategic partnership between a policy...

Chinese Central Bank Commits to Further Loan Prime Rate Reforms

The People's Bank of China (PBOC) has flagged the launch of further reforms to augment the sway of the benchmark Loan Prime...

Chinese Banks Expand Bad Debt Write Offs by 96.3 Billion Yuan in Jan-Aug Period

Official data points to a sizeable expansion in efforts by Chinese banks to write-off their dud debt in 2020, as the COVID-19...

Digital Renminbi Will Not Accrue Interest or Incur Services Fees, Commercial Banks Responsible for Exchange: PBOC

A senior official from the Chinese central bank has provided further details on the statutory digital currency that is currently being trialed...

Total Assets of Chinese Financial Institutions Exceed $50 Trillion as of Q2 2020

The latest official data points to a double-digit YoY rise in the total assets of the Chinese financial sector.

Zhang Xiaohui Calls for Acceleration of Bank Equity Investment Trials to Drive Financial Inclusion

A leading Chinese financial expert has pointed to equity investment by commercial banks as an effective means of resolving the financing difficulties...

Bank of Sichuan Grabs Approval for Establishment, On Track to Become China’s Biggest Municipal Lender

China's banking regulator has just given its approval to the launch of a new municipal lender in the central Chinese province of...

Latest stories

Industrial IoT Financing the Next “Blue Ocean” for Chinese Fintech: Huang Qifan

The former mayor of Chongqing municipality Huang Qifan (黄奇帆) expects Industrial Internet of Things (IIoT) financing to be the next major area...

Legal Changes Expand Power of Chinese Central Bank, Confer Official Recognition to Digital Renminbi

Proposed amendments to the law governing the Chinese central bank are expected to confer it with greater sway and authority within China's...

Jack Ma Calls for Replacing “Pawnshop Mentality” of Traditional Banks with Big Data-based Credit System

Alibaba-founder Jack Ma has decried the collateral focus of traditional banks in the Chinese financial system, calling instead for the use of...

Digital Lender XWBank Sees Q3 Profits Rise 32%

Sichuan-based direct lender XWBank has seen a sharp on-quarter rise in its profits in the third quarter of 2020, as China makes...