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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.
The total value of transactions via UnionPay bankcards totaled 32.3 trillion yuan ($5.3 trillion) in 2013, up 48 percent year on year, according to data released Tuesday by China UnionPay . The nation's top bankcard association said the transaction
Banks' off-balance-sheet businesses, a major part of China's shadow-lending system, are at the center of concerns over whether the country's slowing economy could trigger a debt crisis. The disclosure requirements could provide a rare peek into those
China will allow three to five fully private banks to be set up this year as part of efforts to further open up the sector, the banking regulator said...At present almost all banks are state-owned, either at the national or local level, although some
China has approved a pilot scheme allowing the setting up of three to five private banks, the regulator said on Monday, in a step to boost financial support for cash-starved smaller firms. The first-batch of three to five private banks will be set up