China Economic ReviewThe presidents of China's three biggest banks said that they planned to place more emphasis on personal loans and credit cards,as these were better risks than lending to larger state-owned enterprises, reported Bloomberg. The president of the Industrial and Commercial Bank of China, Jiang Jianqing, said that individuals, who held about 11 per cent of […]
China Reinsurance has submitted a plan for restructuring to the China Insurance Regulatory Commission, South China Morning Post said. Under the plan, the state-owned company would be turned into a holding company with separate subsidiaries for the reinsurance of life and non-life policies. It hopes to launch the subsidiaries in the first half of next […]
The Chinese authorities have given permission to three more foreign insurers to set up operational units in the country, bringing to 34 the total number of overseas insurers allowed to do business, China Securities said. The new companies are Liberty Mutual Insurance of the US, Japan Property Insurance Co and the UK's Standard Life. The […]
It is looking increasingly likely that the Chinese government will provide another massive bailout for China's burdened state banks Speculation is rife after China's central bank governor, Zhou Xiaochuan, said to Xinhua in Mexico that "China has decided to reform its financial system, including reducing non-performing assets and increasing capital input to banks." The number […]
The CSRC's decision a year ago to abandon its policy of selling off nontradeable state shares may have helped shore up share prices but many companies could still be undermined by a decline in equity values. The recent detention of Yang Bin, the disgraced former president of Hong Kong-listed flower exporter Euro- Asia Holdings, may […]