French banking giant Societe Generale (SG) is looking for local partners to help develop a full range of financial services in China, China Daily reported Monday.
France’s second-largest lender, which opened its wholly-owned unit in China last year, has extended its business portfolio in the country from corporate and investment banking to include retail and private [...]
Though Citigroup was in the process of disposing of its non-core assets globally, the bank’s commitment to growing in China has never wavered, Andrew Au, chief executive of Citi China, said in an interview with China Daily.
“Within the bank’s global landscape, China is a recognized top priority market, which we were extremely focused on throughout [...]
Aluminum Corp of China Ltd aims to break even in the second half of this year as market conditions improve and it steps up cost controls, company executives said yesterday.
The company, known as Chalco, reported late on Monday a wider-than-expected net loss of 1.63 billion yuan (US$238 million) for the April-June period, its third quarterly [...]
Citigroup Inc aims to double revenue at its lucrative global transaction services within six years, with China a key growth market, senior bankers told Shanghai Daily.
Citigroup’s global transaction services, which includes cash management, trade finance and securities and fund services, posted a net income of US$834 million in the first quarter, close to half of [...]
The Chinese and Malaysian central banks agreed on a 80-billion-yuan (US$12 billion) currency swap after the ringgit weakened and Malaysia’s foreign reserves slumped 26 percent in less than six months.
The three-year arrangement with China, which has the world’s largest currency reserves at US$1.95 trillion, may be extended, Bank Negara Malaysia, the country’s central bank, said [...]
Although manufacturing in China continued to contract, the bottom is in sight, analysts said after the release of a purchasing managers’ index which rose in January.
The PMI, a measure of conditions in the manufacturing industry, rose for the second straight month in January to 45.3 percent from December’s 41.2 percent, the China Federation of Logistics [...]
