Financial Services
Chinese banks log forex settlement surplus in January2021-02-21
China's commercial banks saw a net forex settlement surplus of 264.4 billion yuan (about 40.8 billion U.S. dollars) in January, the country's forex regulator said on Saturday.
Online payments soar in China during Spring Festival2021-02-19
Online payments through NetsUnion, a Chinese online payment clearinghouse, and China UnionPay, a card payment giant, surged during China's Spring Festival holiday.
China's PICC sees 566 billion yuan in premium income in 20202021-02-18
The People's Insurance Company Group of China (PICC), China's leading insurer, posted 566.1 billion yuan (about 87.9 billion U.S. dollars) in premium income in 2020.
China EximBank releases bailout funds of over 76.3 bln yuan in 20202021-02-12
The Export-Import Bank of China (China EximBank) released over 76.3 billion yuan (about 11.85 billion U.S. dollars) of special bailout funds to companies last year.
Green finance gets newfound incentivization2021-02-10
China will make it easier for international investors to access the country's green finance market by promoting the harmonization of domestic and global green standards as part of its efforts to achieve net-zero emissions by 2060, central bank officials said on Tuesday.
China's central bank conducts 50 bln yuan of reverse repos2021-02-07
China's central bank on Sunday conducted 50 billion yuan (about 7.73 billion U.S. dollars) of reverse repos to keep liquidity stable in the banking system ahead of the Spring Festival holiday.
China says to retain benchmark deposit rate system for long term2021-02-05
China's central bank said Thursday that the benchmark deposit interest rates, the "ballast stone" of the entire interest rates system, will be retained for the long term.
Over 86 pct of Chinese netizens use online payment2021-02-04
China had 854 million online payment users as of December last year, accounting for 86.4 percent of its total internet users, according to a report on the country's internet development released Wednesday.
Bank WMPs post 6.9% growth in 2020 assets2021-01-31
Assets under management, or AUM, held by bank wealth management products in China rose by 6.9 percent on a yearly basis to 25.86 trillion yuan ($4 trillion) last year, a new report said on Friday.
Opening-up, innovation to be pivot for financial sector reforms2021-01-27
Financial industry opening-up and innovation will gather speed this year as policymakers further streamline capital account convertibility process in China, a leading financial expert said.
New system to improve SME lending2021-01-26
China has established a unified national financing registration system that uses movable property and rights as pledges, which is expected to increase loans for small and medium-sized enterprises and improve the overall business environment.
Chinese banks report net forex purchase2021-01-22
Chinese banks saw a net foreign exchange purchase in 2020 as the yuan's exchange rate remained generally stable despite increasing fluctuations, data from the country's forex regulator showed Friday.
China considers tougher rules for nonbank payments industry2021-01-22
China has tightened regulation on companies in the nonbank payment industry with an eye on curbing market monopoly behavior that could trigger financial risks, experts said on Thursday.
China spends 400 bln yuan on fighting COVID-192021-01-21
China spent more than 400 billion yuan (61.73 billion U.S. dollars) of fiscal funds on fighting COVID-19 by the end of November 2020, the Ministry of Finance said.
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