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  • November 28, 2014
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  1. Business - Banking & Finance - BANKING

    Beijing shelves credit card securities

    Posted Nov 20th 2014, 04:44pm by DON WEINLAND

    ... Don Weinland don.weinland@scmp.com Move points to risk concern as regulator halts issuance of credit card debt issues incautious approach to sector once marked for fast growth Beijing puts stop to card securities Beijing halted the issuance of credit-card-asset-backed securities (ABS) this week, demonstrating a high degree of caution for the development of a securitised debt ...

  2. News - China - BANKING

    Beijing eases state-owned monopoly on credit cards

    Posted Oct 30th 2014, 01:33pm by Associated Press in Beijing

    ... Associated Press in Beijing Rules covering credit cards to change to allow foreign companies the right to set-up clearing operations in the mainland in move seen as market liberalisation ... for a foreign competitor to be approved or when licenses might be issued. Beijing’s restrictions have given a monopoly on credit card processing to a state-owned entity, UnionPay. All banks are required ...

  3. Business - Banking & Finance - BANKING

    Beijing to inject 200b yuan of loans into banks

    Posted Oct 18th 2014, 05:47am by Reuters

    ... Reuters in Beijing Move by the central bank aims to keep liquidity ample and support the slowing economy Beijing to inject 200b yuan of loans into banks The mainland is set to inject about 200 billion yuan (HK$252.5 billion) worth of three-month loans into five or six listed banks to keep liquidity ample and support the slowing economy, sources said yesterday. The injection ...

  4. Business - Banking & Finance - BANKING

    Wenzhou-based private commercial bank could launch soon – state backed paper

    Posted Nov 26th 2014, 02:44pm by DON WEINLAND, CHIM SAU-WAI

    ... on the mainland. In March, the regulator said 10 private companies had been included in a private banking pilot programme approved by the central government in January. Regulators in Beijing hope that more ...

  5. Business - Banking & Finance - BANKING

    UnionPay's monopoly under threat as China's card market set to open

    Posted Oct 31st 2014, 06:04am by DON WEINLAND

    ... have not been allowed to brand their cards without adding a UnionPay logo. The World Trade Organisation says the restrictions violate the agreement Beijing made on entering the organisation ...

  6. Business - Banking & Finance - BANKING

    China's shadow banking market third-largest in the world

    Posted Nov 01st 2014, 05:21am by Victoria Ruan

    ... Victoria Ruan in Beijing victoria.ruan@scmp.com With a growth of more than 30 per cent last year to US$2.7 trillion, the mainland market is the third-largest after the US and Britain Shadow banking swells to put China in No 3 spot China's shadow banking sector expanded rapidly last year to become the world's third-largest after the United States and Britain, ...

  7. Business - Banking & Finance - BANKING

    Ding Xuedong named as chairman of CICC

    Posted Oct 23rd 2014, 01:07pm by Ray Chan, Daniel Ren

    ... Investment Bank (AIIB), to be launched in Beijing today. CICC said yesterday Jin would no longer serve as chairman and Ding (pictured) would take over. Last week CICC lost its long-time chief ... in Beijing today, joining officials of other founding members such as India and Mongolia. The establishment of the AIIB, initiated by Beijing, highlights the desire of the world's second-biggest ...

  8. Business - Banking & Finance - BANKING

    Higher bad-loan rates tipped for Bank of China and Agricultural Bank

    Posted Oct 30th 2014, 01:00pm by DON WEINLAND

    ... a bond for Shanghai Chaori Solar Energy Science & Technology, reinforcing Beijing's will to bail out even the smallest firms that are at the risk of going belly up. Bad debts ...

  9. Business - Banking & Finance - BANKING

    PBOC's liquidity boost raises fears over third-quarter Chinese GDP data

    Posted Oct 21st 2014, 04:39am by DON WEINLAND

    ... doubling a figure reported late on Friday. The yield on mainland 10-year government notes fell 10 basis points on the news. Beijing is set to release figures for third-quarter gross domestic ...

  10. Business - Banking & Finance - BANKING

    Fears of tough action by Beijing following allegation BOC launders money

    Posted Jul 11th 2014, 11:34pm by Daniel Ren

    ... Daniel Ren in Shanghai ren.wei@scmp.com Money laundering allegation could intensify rift between bankers and regulators on mainland Fears of tough action by Beijing after BOC claim ... regulators. That would add to fears of a heavy hand on the financial system as Beijing tries to stem massive capital outflows. On Wednesday, state broadcaster China Central Television accused BOC ...




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