Financial Services
Financial sector to open wider, Goldman Sachs says2017-09-21
An in-depth opening up of the Chinese financial market is expected to be a fundamental part of the country's economic growth strategy in the coming years, Harvey Schwartz, president and co-chief operating officer of The Goldman Sachs Group, said on Wednesday.
Banking regulators tighten control on consumption loans2017-09-21
Regulations have been tightened for personal consumption loans to prevent lending from being abused in the housing market as a tool for property speculators.
New bank branch opens in Tibet2017-09-21
China Everbright Bank opened a branch in Tibet Autonomous Region on Wednesday, which will support the region's economic development with heavy financing over the next five years.
Facial recognition debuts at China's banks2017-09-21
At the Agricultural Bank of China's (ABC) three outlets in Jinan City, cards are no longer needed to withdraw money. A quick scan of the face will do.
China plans more pilot zones for cross-border e-commerce2017-09-21
China will establish new pilot zones for cross-border e-commerce in cities with development potential, the State Council, China's cabinet, said Wednesday.
China's asset management industry slows expansion amid tightened regulation2017-09-20
China's asset management businesses expanded at a slower rate in the first nine months of the year amid tightened regulation, according to industry data.
Finnish authorities to help promote Alipay2017-09-20
Chinese digital payment platform Alipay has got the endorsement by Finnish authorities to promote the use of the paying method.
Major overseas banks look to expand in China2017-09-19
Major global lenders see growth areas in the Belt and Road Initiative, the country's interbank bond market and trading in the renminbi.
Foreign financial firms gear up for a new era2017-09-19
China is accelerating plans to open up the financial industry with leading policymakers pledging to relax foreign investment rules to counter the decline of capital inflows.
Insurance regulator to beef up regulation2017-09-19
China's insurance regulator said on Monday it will intensify regulation of outbound and real estate investment, a move to prevent valuation risks abroad and guarantee the stability of the nation's foreign exchange reserves.
Crackdown signals end of illegal exchanges2017-09-19
China's crackdown on bitcoin exchanges is a sign that the top regulator no longer tolerates cryptocurrency trading in the country as it has fueled illegal fundraising and cross-border money laundering.
CIRC underlines key role of insurance in financial safety2017-09-18
Life insurance products should be more diverse to enhance risk control, said a senior insurance regulatory official.
China's new yuan loans rise, M2 growth continues to slow2017-09-18
Chinese banks extended 1.09 trillion yuan (about 167.7 billion U.S. dollars) of new loans in August, well above market forecasts, buoyed by demand from home buyers and companies.
Chinese banks' bad loan ratio at healthy level in August2017-09-18
The bad loan ratio of Chinese commercial banks remained at a healthy level in August due to strengthened efforts from financial regulators to rein in risks, data from the banking regulator showed.
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