Financial Services
China's insurance asset management association registers massive product value2022-09-26
The value of products registered by the Insurance Asset Management Association of China, an organization for the country's insurance asset management industry, totaled 684.84 billion yuan (about 97.42 billion U.S. dollars) in the first eight months of the year.
China's policy bank ups financial support for major projects2022-09-26
The China Development Bank has provided another 150 billion yuan (about 21.45 billion U.S. dollars) to support major infrastructure projects, according to the bank.
Interest rate cut feasible tool to spur growth2022-09-21
While a number of central banks are expected to announce big tightening steps this week to beat inflation, China may continue to go in the opposite direction by tamping down interest rates in the coming months to spur growth, experts said on Tuesday.
Experts see room for more lending rate cuts2022-09-22
The recent cuts to deposit rates effected by some Chinese commercial banks have increased room for the country's benchmark lending rates to decline in the coming months and give more support to the economy, experts said on Wednesday.
Insurers to lend chip firms hand2022-09-15
Chinese insurance companies are designing tailor-made insurance services to promote the use of domestically developed chip products as part of the nation's broader push to boost the homegrown semiconductor sector, people familiar with the matter said.
China's financial institutions' assets up 9.7 pct2022-09-15
China's financial institutions saw expanded balance sheets by the end of the second quarter this year, official data showed Wednesday.
Smaller lenders to get more NPL help2022-09-14
China will conduct a pilot program to support regional small and medium-sized banks to accelerate the disposal of nonperforming loans in six provinces, further encouraging these lenders to enhance their risk resistance capacity and better serve the real economy, said a regulatory official.
China's trust sector expands in Q22022-09-12
China's trust sector expanded steadily in the second quarter of this year, industry data showed.
ICBC's new domestic yuan loans hit record high in H12022-09-04
The Industrial and Commercial Bank of China, China's biggest commercial lender, saw its new domestic yuan loans reach 1.61 trillion yuan (about 233.61 billion U.S. dollars) in the first half of the year, hitting a record high.
Stimulus, trade surplus seen as key to stable RMB2022-08-31
While the renminbi's exchange rate against the US dollar continued to head south amid expectations of further interest rate hikes by the Federal Reserve, the Chinese currency can be stabilized leveraging China's significant trade surplus and stimulative economic policies, experts said.
Two foreign banks to provide loans through carbon-reduction supporting tool2022-08-27
The People's Bank of China said Friday that two foreign lenders have been added to the list of financial institutions that can provide firms with low-cost loans through a supporting tool for carbon emission reduction.
Experts: Rate cuts set to boost economic recovery2022-08-23
The reduction in China's benchmark lending rates on Monday will boost the nation's economic recovery by spurring corporate and household spending and stabilizing the real estate sector, experts said.
RMB's global payment share up in July2022-08-19
The Chinese currency renminbi (RMB), or the yuan, saw its share in global payments rise from 2.17 percent in June to 2.2 percent last month, the Society for Worldwide Interbank Financial Telecommunication (SWIFT) said Thursday in a monthly report.
Surprise rate cut to help solidify economic rebound2022-08-16
China's central bank delivered surprise interest rate cuts on Monday, suggesting that the country is still willing to lend more monetary support on the aggregate front in the coming months despite a potential rise in structural inflationary pressure, experts said.
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