China Economic ReviewIn recent years, the market share of RCCs been eroded by an even more obscure competitor, the state-run postal savings system. China’s post office maintains a network of more than 31,000 deposit-collection points, with roughly two-thirds in rural areas. Until now, the postal savings system been largely passive: post offices in rural China accept deposits […]
According to a recent report on China- Online.com, rural China is now facing a severe credit squeeze as the RCCs seek to clean up their books at the same time as the big four banks close branches in the countryside and the postal savings system (which traditionally does not make loans) takes a larger share […]
The Dalian and Tianjin branches of Korea Exchange Bank, Chohung Bank, Shinhan Bank and Industrial Bank of Korea have been permitted to offer yuan currency services to Korean clients in these cities, Korea Herald said. The decision was made during a meeting in Beijing between Korea’s Minister of Finance and Economy, Jeon Yun-churl, and Zeng […]
Chinese banks’ percentage of non-performing loans is twice the 25-30 per cent estimated by the central bank and the banks themselves are making the problem worse, according to a report issued in May by international ratings agency Standard & Poor’s. The agency said that domestic credit increased dramatically in the second half of the 1990s, […]
Over-the-counter retail debt trading is to be launched with a pilot scheme at some 400 outlets of the major state-owned banks in Beijing in June, China Securities Journal said. Debt trading for retail investors, a long expected move to shore up the debt market and reduce bank risks, is intended to create a liquid debt […]