Guangdong Development Bank (GDB) has met the minimum requirement for financial strength for the first time in 20 years after recording profit growth of over 140% in the first half of the year, state media reported. The bank posted a capital adequacy ratio of 8.1% at the end of June, above the minimum 8% required […]
Category: Banking & Finance
The credit rating agency Standard & Poor’s (S&P) has said that Chinese banks would likely see a "slight" increase in non-performing loans next year as property developers and export-geared manufacturers’ performance suffers due to the global economic slowdown, the South China Morning Post reported. S&P analyst Liao Qiang expected the increase to have little negative […]
China Life, the mainland’s largest life insurer, will invest US$1.16 billion investment in infrastructure projects in Tianjin, the South China Morning Post reported. The projects include an expressway in Tianjin’s city center and two highway sections that run through the city. China Life Asset Management, a joint venture between China Life and its parent company, […]
Morgan Stanley’s head of China operations yesterday committed to broadening the bank’s business in the region despite a slowdown in the market, the Wall Street Journal reported. "In the long run, we do believe China is going to be unstoppable; not only that, it will be unimaginable in terms of the pace of growth," said […]
The Chinese Communist Party’s Publicity Department has issued verbal directions to major domestic financial websites to avoid negative commentaries, reports and headlines about China’s stock markets, the South China Morning Post reported. The directions come after the China Securities Regulatory Commission (CSRC) instructed fund managers in July to avoid negative comments about the markets in […]