Financial Services
China's PICC reports rise revenue, net profit in 20222023-03-29
The People's Insurance Company Group of China (PICC), China's leading insurer, registered an increase in revenue and net profit in 2022.
China's non-cash payments maintain steady growth in 20222023-03-26
Non-cash payments handled by Chinese banks continued stable expansion in 2022, with electronic payments sustaining growth momentum, a central bank report said.
Yuan's global status continues to rise2023-03-25
The renminbi remained the world's fifth most active transactional currency in February with a growing share in global payments, a sign that its status as an emerging international currency is steadily rising, experts said on Friday.
China to expand financial sector's opening-up2023-03-20
China will further expand the high-level opening-up of its financial sector and advance institutional opening-up with regard to rules, regulations, management and standards, officials and financial experts said.
China's US debt holdings at lowest in over 12 years2023-03-18
China's cut in US debt holdings reflects an ongoing trend by the world's second-largest economy to diversify its international portfolio and ensure reserve security as dollar asset safety comes into question, market experts said on Friday.
China's financial institutions' assets rise in 20222023-03-16
China's financial institutions saw a steady expansion in assets by the end of 2022, official data showed Wednesday.
SVB demise a wake-up call to banks2023-03-15
Financial experts in China said Silicon Valley Bank's demise in the United States appears to suggest it is probably time for the US Federal Reserve to reconsider sustained aggressive rate hikes, which many believe have caused lethal liquidity problems in banks like SVB.
Banks ramp up assistance to promote foreign trade2023-03-13
Chinese banks have ramped up support for foreign trade enterprises since the second half of last year, as companies join delegations led by local governments to go overseas to compete for orders and expand their businesses.
PE fund investments to energize property sector2023-02-22
The latest approval given to private equity or PE firms to invest in the property sector in China will help funnel more capital into real estate companies and ensure the stability of the entire industry, experts said on Tuesday.
Mortgage prepayment trend may ease2023-02-14
Supported by the sound fundamentals of China's economy and the expected improvement of its capital market performance this year, the trend of homebuyers prepaying their mortgages is likely to gradually subside, as they seek higher returns elsewhere, experts said.
China unveils first batch of private pension wealth management products2023-02-11
China has unveiled its first batch of seven private pension wealth management products, in its latest effort to broaden sources of retirement income, according to China Banking Wealth Management Registration and Depository Center on Friday.
Reform to further facilitate maturity of capital market2023-02-06
The adoption of a registration-based initial public offering mechanism throughout the A-share market will further facilitate China's innovation-driven, high-quality economic growth and the maturity of a multilevel capital market, experts said.
China's green loans see rapid growth in 20222023-02-04
China's green finance continued to see rapid growth last year with outstanding green loans in yuan and foreign currencies up 38.5 percent year on year to 22.03 trillion yuan (3.27 trillion U.S. dollars), a central bank report showed Friday.
Banks improve as economy recovers2023-02-02
The financial results of listed banks in China will improve steadily this year as the overall economy improves and banks make greater efforts to grant credit, experts said.
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