https://www.scmp.com/rss/273274/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com The net profit of China's US$575 billion sovereign wealth fund China Investment Corp (CIC) surged 60 per cent last year, helped by a 10.6 per cent return on its overseas investment portfolio. Net earnings rose to US$77.4 billion last year, from US$48.4 billion in 2011, as global asset prices increased from the third quarter, in step with a burgeoning economic recovery, Ding Xuedong, CIC's new chairman, said yesterday. CIC's performance comes as a relief for the fund, which has been criticised... https://www.scmp.com/business/china-business/article/1291646/china-sovereign-fund-cics-2012-profit-jumps-60pc-overseas?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1291646/china-sovereign-fund-cics-2012-profit-jumps-60pc-overseas?utm_source=rss_feed Fri, 26 Jul 2013 16:00:00 +0000 China Minsheng Banking, the nation's largest privately owned lender, said net profit surged 20 per cent in the first quarter as strong fee and commission earnings more than offset shrunken profits from making loans. Net earnings totalled 11.02 billion yuan (HK$13.8 billion) in the January-March period, compared with 9.17 billion yuan in the same period last year, the bank said in a stock exchange filing yesterday. The profit growth, generally in line with market expectations, was made as the... https://www.scmp.com/business/banking-finance/article/1222520/minsheng-rallies-profit-growth?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1222520/minsheng-rallies-profit-growth?utm_source=rss_feed Wed, 24 Apr 2013 16:00:00 +0000 Earnings growth at Chongqing Rural Commercial Bank slowed to 15 per cent in the first quarter as net interest margin narrowed and provisions for bad loans surged. The first mainland lender to release interim results in Hong Kong, the Chongqing bank yesterday said net earnings totalled 1.6 billion yuan (HK$2 billion) in the January-March period, compared with 1.4 billion yuan a year ago. The year-on-year 15 per cent increase in net profit fell short of the 17 per cent forecast by many analysts... https://www.scmp.com/business/banking-finance/article/1221062/chongqing-bank-profit-misses-market-target?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/1221062/chongqing-bank-profit-misses-market-target?utm_source=rss_feed Mon, 22 Apr 2013 16:00:00 +0000 The mainland economy has been experiencing a worse-than-expected slowdown, and the government's inaction, say some economists, is raising the odds of missing its growth target. August data released earlier this month showed exports were hit hard by the European debt crisis and investments have yet to pick up despite Beijing's quickened approval of construction projects. The downturn in the world's second-biggest economy has surprised many optimists who had become used to the astonishing growth... https://www.scmp.com/business/economy/article/1047374/stopping-nothing-tough-economic-times?utm_source=rss_feed https://www.scmp.com/business/economy/article/1047374/stopping-nothing-tough-economic-times?utm_source=rss_feed Tue, 25 Sep 2012 16:00:00 +0000