Financial Services
Watchdog in stark warning to insurers2017-02-23
China's insurance regulator vowed on Wednesday to "severely punish" short-term speculation by insurers and their aggressive purchase of listed companies' stakes.
HK to gear up for green finance: financial chief2017-02-23
Hong Kong Financial Secretary Paul Chan Mo-po said on Wednesday that Hong Kong has the potential to develop green finance and the government will intensify its efforts to seek opportunities in this area.
China's insurance sector not "club of the rich": regulator2017-02-23
China's top insurance regulator said Wednesday that it would not allow the insurance sector to become a "club of the rich."
Alipay accelerates its global expansion2017-02-22
Ant Financial Services Group, the parent company of online payment giant Alipay, is accelerating its global expansion by reaching into the South Korean market.
No relief for banks from costs, rates2017-02-20
China's drive to reduce financial system risks is squeezing the nation's banks. Caught between policymakers' intensifying efforts to raise short-term borrowing costs, and benchmark interest rates that haven't moved since 2015, Chinese lenders have few options but to absorb much of the higher costs.
Chinese insurers asked to deepen social engagement2017-02-16
Chinese insurance companies must be more committed to their role in maintaining social stability, the country's insurance regulator said Wednesday.` Insurance companies can help prevent and reduce disputes and assist rapid response to accidents, according to the China Insurance Regulatory Commission.
China outpaces US on mobile payments2017-02-15
Payments made on Chinese smartphones are nearly 50 times greater than the number of mobile transactions in the United States, signaling a late-mover advantage with robust potential for the fintech sector, the Financial Times reported on Tuesday.
Insurers' premium growth set to slow2017-02-15
The premium growth of insurers is set to slow this year after the explosive rise in 2016, as financial deleveraging and a more restrictive regulatory approach to curb risks will be a priority for regulators, an insurance official said on Tuesday.
OCBC Bank's net profit down 11 pct in 20162017-02-15
Oversea-Chinese Banking Corporation Limited (OCBC Bank) said on Tuesday that it recorded a net profit of 3.47 billion Singapore dollars (2.45 billion U.S. dollars) for the whole year of 2016, a decrease of 11 percent from 4 billion Singapore dollars (2.82 billion U.S. dollars) a year ago.
Credit data may reflect efforts to curb risk2017-02-15
Key credit figures released by the central bank on Tuesday reflect Beijing's intention to keep prudent monetary policy, with little likelihood of further easing, to better fend off financial risks, analysts said.
China's insurance premium income up 27.5 pct2017-02-14
China's insurance premium income continued steady growth, with a 27.5 percent year-on-year rise in 2016, the country's top insurance regulator said Tuesday.
Bank focuses more on compliance risk control2017-02-14
Bank of China said on Monday it is placing greater focus on and devoting more resources to manage compliance risks and meet anti-money laundering rules in other countries, as it expands globally to serve Chinese companies and local clients.
Credit China eyes online payments, P2P2017-02-13
Credit China FinTech Holdings Ltd is planning more investments as it aggressively expands beyond its original loans and lease-financing businesses into online payments and peer-to-peer lending.
China private equity industry posts strong growth momentum2017-02-13
China's private equity industry posted strong growth momentum last month, with total assets nearly touching 11 trillion yuan (around 1.6 trillion U.S. dollars).
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