Huarong Asset Management Co opens 1st bank

2010-10-13 16:51:54

China's Huarong Asset Management Co said on Oct 12 it had opened a bank in Central China's Hunan province, becoming the first asset management company in China to start banking operations.

China's Sept new yuan loans rose to 596b yuan

2010-10-13 14:45:23

China's new yuan-denominated lending in September rose to 595.5 billion yuan ($89.28 billion) from 545.2 billion in August, the People's Bank of China (PBOC), the central bank, said in Beijing on Oct 13.

Ratio hike 'no signal of policy change'

2010-10-13 10:54:18

The hike in banks' reserve requirement ratio by China's central bank signaled policymakers' aim to rein in excess liquidity and curb rising inflation but the move may not signal a shift in its policy stance toward tightening, analysts said on Tuesday.

Central Huijin to continue increasing stake in CCB

2010-10-13 09:46:09

Central Huijin Investment Ltd, an arm of China's sovereign wealth fund, has finished the first round of increasing stake in China Construction Bank (CCB) and it intended to continue increasing its CCB shareholdings, said the bank on Oct 12.

Forex regulator vows crackdown on 'hot money' inflows

2010-10-12 16:29:46

China's foreign exchange regulator, the State Administration of Foreign Exchange (SAFE), said on Oct 12 it will continue to stop inflows of speculative money, or "hot money," into China and crackdown on illegal foreign exchange activities.

Commercial banks' refinancing to exceed 200b yuan

2010-10-12 14:44:11

China's commercial banks will speed up their refinancing pace in the fourth quarter in order to raise the capital adequacy ratio and core capital adequacy ratio, Shanghai Securities News reported on Oct 12.

CDB launches floating-rate RMB bonds in HK

2010-10-12 11:34:02

China Development Bank (CDB), one of the country's three policy lenders, said on Oct 11 it had successfully launched 2 billion yuan ($300 million) of floating-rate renminbi bonds, which made it the first financial institution to issue floating-rate renminbi bonds in Hong Kong this year.

China raises big banks' reserve ratio

2010-10-12 09:25:54

China has raised reserve requirements for six large commercial banks on a temporary basis, a move to drain cash from the economy but avoid over-tightening, Reuters reported on Oct 11.

IMF meeting fails to resolve currency fears

2010-10-11 09:49:40

The world's top finance officials wrapped up three days of talks in Washington on Sunday after failing to reach a consensus on measures to head off what some see as a looming currency war.

PBOC to further reform exchange rate formation mechanism

2010-10-08 17:23:01

China would continue to further the reform of the formation mechanism of its currency yuan exchange rate, but a sharp rise in the value of the currency would damage the Chinese economy, a senior official of the People's Bank of China said in Washington on Oct 6.

China issues new rules on RMB settlement accounts

2010-09-30 14:33:56

People's Bank of China (PBOC), China's central bank, recently released new rules to enhance supervision of operations of overseas institutions' RMB settlement accounts in China, chinanews.com.cn reported Thursday.

African Eximbank to extend loans for telecom from ZTE

2010-09-30 09:41:05

African Export-Import Bank, a policy lender of trade finance, will provide $56.4 million in loans to help Africa import telecom equipment from ZTE Corp, its president Jean-Louis Ekra said.