China’s bank wealth management products (WMP) have shrunk by RMB 1.38 trillion ($200 billion) in the first quarter, reports Caixin. This comes as banks prioritized deposit growth and market volatility weighed on flows. Bank WMP balances fell to RMB 31.91 trillion at the end of March from the end of last year, according to data from […]
Category: Banking & Finance
Vietnamese lender SHB and China’s Huawei Technologies Group signed a strategic cooperation agreement on Sunday, reports Reuters citing SHB. The move will allow the Chinese technology giant to expand its presence in Vietnam. Under the agreement, Huawei will support SHB in designing technology architectures and building data platforms. It will also support the bank in ensuring stable […]
Chinese household borrowing posted a record drop in February, reports Caixin. Household loans fell by RMB 650.7 billion ($94 billion) during the month, the largest contraction on record, according to data released Friday by the People’s Bank of China. Total social financing (TSF)—a broad measure of credit and liquidity in the economy—increased by RMB2.38 trillion in […]
China will issue special sovereign bonds to recapitalize some of its largest banks, reports Bloomberg. The move marks an expansion of Beijing’s efforts to fortify the nation’s $69 trillion financial system against a cooling economy and market volatility. A total of RMB 300 billion ($44 billion) worth of special government bonds will be sold this year […]
China’s interbank market regulator has revealed new rules for technology and innovation bonds, reports Caixin. The move aims to steer more funding into hard tech sectors and address a structural imbalance that has favored state-owned giants over private firms. The National Association of Financial Market Institutional Investors (NAFMII) on Monday released updated guidelines, set to take […]