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China's central bank has stepped up formulating a guideline for regulation of the country's booming Internet financial sector, an official source close to the matter has said. Mu Huaipeng said on Thursday during an IT summit held in south China's
The real question is, if it were to continue would we have concerns? And of course the answer is, if it continued at the same pace as last year, then yes we would.'' Mr Chronican said the bank had its lending standards constantly under review but
Chinese banks are now dealing with the aftermath of the huge lending binge that policymakers unleashed to soften the impact of the global financial crisis in 2008. In particular, it is necessary to tighten supervision and control of spillover of risk
UnionPay International announced on Thursday that its global cardholder preferential service program this year will include a discount of up to 12 percent upon purchases in airport duty-free stores around the world. The program offered by the
So far, more than 100 proposed private banks have had their names approved by the State Ad mini stration for Industry and Commerce. Four of those names were approved just after the Spring Festival, which ended in early February. The China Banking
China's central bank published rules on Thursday governing investment by wealth management products (WMPs) in the country's bond market, in a move aimed at containing risks posed by banks' off-balance-sheet business.
Chinese people spent 13.3 percent more on shopping and eating during the seven-day Lunar New Year holiday, which illustrated high consumer confidence despite a softening growth momentum of the economy at the start of 2014. Analysts said the holiday
Private investors have long been shareholders in rural commercial banks, but they have not been allowed to start them. China is committed to financial innovation in rural areas to better serve agricultural development. China had a variety of small
The top economic planning body, the National Development and Reform Commission, said on Wednesday that it is building an early warning system, which will collect industrial information and issue warnings of potential overcapacity based on analysis of
The measure aims to keep accelerating interbank business under control and to enhance oversight. Commercial banks have been allowing their first or second-level branches to invest their assets or wealth management funds in trust and asset managements.