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The Chinese government has almost reached an agreement to adopt a mobile payment standard initiated by China UnionPay, according to the chairman of China UnionPay. Xu Luode, the company's chairman, said on Wednesday that the 13.56 MHz mobile payment
China's central bank completed its largest weekly injection of funds into China's banking system in seven months on Thursday, aiming to give banks the liquidity they need to support the economy following the weakest month for bank lending in a year...
China's top four banks extended 70 billion yuan ($11 billion) of new local-currency loans during the first half of August, up from 50 billion yuan in the same period a month earlier, an official newspaper reported on Monday. However the pickup in new
Chinese banking authorities have warned domestic commercial banks to take precautions against rising risks of imbalance between foreign exchange receipts and payments. Overseas claims by Chinese banks totalled 4 trillion yuan ($634.92 billion), China
The China Banking Regulatory Commission , the banking industry watchdog, has set up a bureau to protect the rights of financial services consumers, the China Securities Journal reported on Aug 20...The establishment of the bureau is part of the
China's fourth-largest lender -- opened its New York branch Friday. The move marks a major expansion of its overseas business, the bank said in a statement. Its main business scope covers corporate deposit, consortium and bilateral loans, trade
Six years have passed since Canadian banker Suzanne Labarge quit her post as an independent director on the Bank of China board. But a government regulation based on Chinese characteristics that sparked her resignation is still very much alive.
The China Banking Regulatory Commission will set up an information and technology supervision department, in a move to boost the commission's supervision of the banking industry's IT operations and maintain the stable development of the industry...
China's central bank said Thursday it will take "the proper time" to fine-tune the country's monetary policy as the faster-than-expected slowing economy needs more cash...Efforts should be made to push the financial service sector to benefit the real
African central banks were given access to yuan-denominated bonds for the first time after a large Chinese lender allocated them a purchase quota of three-year bonds, an important development in the yuan's wider use globally. China Development Bank