Topic
Agricultural Bank of China is one of the big four state-owned commercial banks in the People's Republic of China. The other three are Industrial and Commercial Bank of China, China Construction Bank and Bank of China. The Agricultural Bank of China was founded in 1951 and is based in Beijing.
TOPIC
Agricultural Bank of China is one of the big four state-owned commercial banks in the People's Republic of China. The other three are Industrial and Commercial Bank of China, China Construction Bank and Bank of China. The Agricultural Bank of China was founded in 1951 and is based in Beijing.
- Chinese banks’ third-quarter results mostly beat estimates, averting property distress as bad loan ratios improved slightly
- Analysts say loan quality will come under the microscope as developers continue to face a liquidity squeeze, barring any policy easing
HKMA allows 16 banks to sell products in Hong Kong and the mainland, while three can only sell to Greater Bay Area residents via the southbound route.
HKMA allows 16 banks to sell products in Hong Kong and the mainland, while three can only sell to Greater Bay Area residents via the southbound route.
Ping An Insurance joined the list of top 10 most admired companies for the first time in a ranking based on public perception. Dutch semiconductor equipment maker ASML knocked Apple off its perch.
Ping An Insurance joined the list of top 10 most admired companies for the first time in a ranking based on public perception. Dutch semiconductor equipment maker ASML knocked Apple off its perch.
Analysts expect Chinese lenders to post an average 23 per cent profit growth for the second quarter, as the economic rebound from Covid-19 has eased the burden of soured loan provisions.
Analysts expect Chinese lenders to post an average 23 per cent profit growth for the second quarter, as the economic rebound from Covid-19 has eased the burden of soured loan provisions.
Contingency planning has been a requirement for China’s biggest financial institutions for a decade now.
Contingency planning has been a requirement for China’s biggest financial institutions for a decade now.
China’s banking regulator has warned the country’s smaller banks against rushing to grow their property sector loans after a cap on lending by big banks to the highly leveraged industry showed some initial success.
China’s banking regulator has warned the country’s smaller banks against rushing to grow their property sector loans after a cap on lending by big banks to the highly leveraged industry showed some initial success.
Chinese authorities, anxious to maintain social stability during the centenary year of the ruling Communist Party, are rushing to keep the lid on housing prices and other political hot button issues. Last month, China’s home prices soared by 0.5 per cent across 70 cities tracked by the statistics bureau, at a pace that exceeded the previous month.
Chinese authorities, anxious to maintain social stability during the centenary year of the ruling Communist Party, are rushing to keep the lid on housing prices and other political hot button issues. Last month, China’s home prices soared by 0.5 per cent across 70 cities tracked by the statistics bureau, at a pace that exceeded the previous month.
Top Chinese banks report first-quarter profit growth in line with analysts’ expectations while exceeding the mainland’s industry average of a 1.5 per cent profit increase.
Top Chinese banks report first-quarter profit growth in line with analysts’ expectations while exceeding the mainland’s industry average of a 1.5 per cent profit increase.
China’s US$13.6 billion National Green Development Fund takes a step closer towards deploying capital to fund climate-friendly projects.
China’s US$13.6 billion National Green Development Fund takes a step closer towards deploying capital to fund climate-friendly projects.
Chinese lenders closed 1,300 branches in 2020, and the trend has continued into this year amid rising costs and growing mobile banking popularity
Chinese lenders closed 1,300 branches in 2020, and the trend has continued into this year amid rising costs and growing mobile banking popularity
Bank of China, Agricultural Bank of China beat analysts estimates with profit increases, thanks to a strong fourth-quarter rebound.
Bank of China, Agricultural Bank of China beat analysts estimates with profit increases, thanks to a strong fourth-quarter rebound.
Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, says it is ‘inevitable’ the number of bad loans will rise this year due to the pandemic.
Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, says it is ‘inevitable’ the number of bad loans will rise this year due to the pandemic.
Positive results at China’s mid-sized lenders have bucked the trend, because net profit for the banking industry as a whole, based on preliminary data, is expected to drop for the whole of 2020.
Positive results at China’s mid-sized lenders have bucked the trend, because net profit for the banking industry as a whole, based on preliminary data, is expected to drop for the whole of 2020.
The task of cleaning up dud loans has taken on added urgency as China’s financial system must brace for a record wave of bond defaults and slumping corporate earnings, as the coronavirus pandemic weigh on consumption and crimps economic growth.
The task of cleaning up dud loans has taken on added urgency as China’s financial system must brace for a record wave of bond defaults and slumping corporate earnings, as the coronavirus pandemic weigh on consumption and crimps economic growth.
Chinese banks reported green shoots of retail loans business recovery, as credit card borrowers’ repayment ability improved amid rebounding economy.
Chinese banks reported green shoots of retail loans business recovery, as credit card borrowers’ repayment ability improved amid rebounding economy.
Nowhere is the problem more serious than in Guangzhou, where 33,000 foreclosures were reported in a city whose economy shrank 2.7 per cent last year, more than the national average of 1.6 per cent.
Nowhere is the problem more serious than in Guangzhou, where 33,000 foreclosures were reported in a city whose economy shrank 2.7 per cent last year, more than the national average of 1.6 per cent.
China already boasts more digital mobile payment users than anywhere else on earth, in a US$49 trillion market almost 500 times bigger than in the United States. The People’s Bank of China governor Yi Gang wants to hasten the digital transformation of China’s currency and economy.
China already boasts more digital mobile payment users than anywhere else on earth, in a US$49 trillion market almost 500 times bigger than in the United States. The People’s Bank of China governor Yi Gang wants to hasten the digital transformation of China’s currency and economy.
Senior Chinese bank officials expect more bad loan provisioning to come, resulting in further pressure on net profit for the full year.
Senior Chinese bank officials expect more bad loan provisioning to come, resulting in further pressure on net profit for the full year.
Chinese lenders have been asked to sacrifice profits, extend debt reprieve for struggling businesses and hire new graduates to ease unemployment. The cost to it all are expected to show up in latest earnings reports.
Chinese lenders have been asked to sacrifice profits, extend debt reprieve for struggling businesses and hire new graduates to ease unemployment. The cost to it all are expected to show up in latest earnings reports.
China’s largest banks have already been leaned on by Beijing to prop up the economy. They’ve been told to pump cash out to small and medium-sized businesses and forgo profits by lowering interest rates and providing relief on trillions of yuan of troubled loans.
China’s largest banks have already been leaned on by Beijing to prop up the economy. They’ve been told to pump cash out to small and medium-sized businesses and forgo profits by lowering interest rates and providing relief on trillions of yuan of troubled loans.
SMIC shares triple in value on their first day of trading, giving the chip maker a US$84.3 billion capitalisation, after completing the mainland’s biggest stock offering in a decade.
SMIC shares triple in value on their first day of trading, giving the chip maker a US$84.3 billion capitalisation, after completing the mainland’s biggest stock offering in a decade.
Xiang’s fall from grace in 2017 capped a year-long shakeout of the country’s financial services industry, which ended in his regulatory commission absorbed by the bigger bank regulator.
Xiang’s fall from grace in 2017 capped a year-long shakeout of the country’s financial services industry, which ended in his regulatory commission absorbed by the bigger bank regulator.