China’s banking regulator will work to ensure “every cent” lent out by the nation’s financial institutions this year enters the real economy to help guard against inflation while maintaining growth, Chairman Liu Mingkang said.
This year “will be extremely complex and full of uncertainties,” Liu said in an interview with Xinhua news agency published late yesterday. [...]
China would step up work to monitor non-banking financing, said the China Banking Regulatory Commission (CBRC) Tuesday in a statement on its web-site.
More focus would be put on businesses in connection with trust companies and the real estate sector to prevent banks from using non-banking financing to circumvent policies, said Liu Mingkang, chairman of the [...]
Bank of China (BOC), the third largest lender in the country, said Monday it would offer less new loans this year as the bank strives to rein in its credit growth at a reasonable rate.
But the bank would still maintain its relatively high lending growth rate in order to meet client demand and allow for [...]
China UnionPay (CUP) began cash withdrawal services for card holders in 95 percent of automatic teller machines in the Maldives, after launching a partnership with the island nation’s biggest bank Friday.
Following cooperation between the CUP and the Bank of Maldives, CUP card payment services will expand to 90 percent of point-of-sale (POS) terminals in Maldives.
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China Development Bank (CDB) Friday claimed it was looking to extend ties with Barclays, refuting a rumor that it was considering selling its stake in the UK lender.
Media reports Thursday quoted CDB president Jiang Chaoliang as saying the bank was reviewing its strategic ties with Barclays, including its equity stake in the lender.
Responding to the [...]
China has started “preliminary work” on the second phase of its emergency oil reserves in Guangdong to help bolster energy security and meet demand, the head of the province’s economic planning agency said.
Construction of storage bases in the cities of Zhanjiang and Huizhou in Guangdong will begin “as soon as possible,” Li Miaojuan, director of [...]
