Chinese banks issued Rmb 1.45 trillion ($211.8 billion) of new loans in July, according to data from China’s banking regulator, marking a 75% rise compared with the same time last year at a time when lending is at the forefront of Beijing’s concerns. The July figure exceeded average estimates of economists surveyed in a Wall […]
Category: Brief
Chinese car imports quadrupled in July from June as cuts to auto tariffs kicked in, Caixin reports. A record 165,000 foreign vehicles entered Chinese ports in July, compared with just 45,000 a month before, according to data from the General Administration of Customs. June’s figure was particularly low, the administration added, as buyers waited for […]
Beijing has responded to the recent crisis in the country’s massive peer-to-peer (P2P) lending market with the laying out of 10 measures aimed at re-establishing financial stability, state media reports. The proposed measures include a ban on local authorities, who oversee the administration of new financial services in their region, from allowing any new P2P […]
Agricultural Bank of China (ABC) – one of the country’s ‘big four’ state-run banks – plans to launch a private equity fund to support Beijing’s intensifying debt-for-equity swap program with state-owned enterprises. The fund, ABC Capital Management was registered with starting capital of Rmb 500 million ($73.3 million), according to Caixin, and is a wholly […]
A unit of one of China’s state energy giants is considering stopping shipments of US liquefied natural gas (LNG) during the coming winter in an effort to sidestep potential tariffs, sources told Bloomberg. Instead, PetroChina, managed under China National Petroleum Corp., would up its purchases of spot cargoes from other countries or swap US shiploads […]