Mutual funds lie at the heart of many of China’s current wealth management solutions. The principal architects of these products are fund management companies and, although there is some direct distribution, banks are believed to be the point of sale for around three quarters of all mutual funds. The emergence of more sophisticated wealth management […]
Category: Banking & Finance
Access to China’s retail banking sector has not come easily for foreign operators. The regulatory reforms that came at the end of 2006 were supposed to break down the barriers between them and full participation in the local currency market. In practice, things have not been so easy. Approval of new products – notably debit […]
China’s stock markets continue to struggle. Whatever happened to that much-vaunted Olympics boost?
Two former managers at Bank of China and their wives were convicted of conspiracy charges in a federal court in Las Vegas for a 13-year plot to embezzle and launder US$485 million from a Chinese state-owned bank, AP reported. Bankers Xu Chaofan and Xu Guojun and their wives, Kuang Wanfang and Yu Yingyi, were found […]
Underground shopping center operator Renhe Commercial Group and China Oils & Foodstuffs Import & Export Corp’s (COFCO Group) packaging unit are planning large initial public offerings in Hong Kong this year, the South China Morning Post reported. Renhe will complete a US$1 billion IPO after the October 1 National Day holiday, while COFCO is expected […]