China
Citi appoints Lin Hai as head of China commercial bank business
Lin was most recently head of corporate sales & solutions for China and HK.
4 days ago
Citi appoints Lin Hai as head of China commercial bank business
Lin was most recently head of corporate sales & solutions for China and HK.
4 days ago
Investor demand for China’s wealth management product still muted
Balance may grow in 2024, according to Fitch Ratings.
5 days ago
Ant Group raises transaction limits in China for foreign users
Ten partner wallets can now enjoy the increased limits.
China raises annual mobile payment limit of foreign visitors to $50,000
The single transaction limit has also been raised to $5,000.
Loan rate cut weighs on Chinese banks’ interest margins, profits
China Construction Bank, ICBC, and CITIC Bank will be most negatively affected.
Ant Group outbids Citadel for Credit Suisse’s China investment bank venture: report
But this faces a “thorough review” because China favors a foreign buyers, sources said.
Weekly Global News Wrap: HSBC gets approval to sell Russia unit; Chinese banks approve $17b property loans
And China cuts 25 basis points to five-year loan prime rate (LPR).
DBS China secures license to underwrite debt of non-financial companies
Non-financial firms can now work with DBS to enter the world’s second largest bond market.
China’s new bank loans hit record high in January: report
Officials are also rolling out more measures to support the economy.
Citi names Luke Lu as head of banking in China
He will oversee all of Citi’s business and operations in China.
Alipay+ unveils campaigns, promos for Chinese New Year
These include special voucher bundles of up to 90% off.
MUFG China clinches lead underwriting license for corporate panda bonds
It will be able to support clients to participate in bond issuance by offshore companies.
OCBC appoints ex-SMBC bankers as new China corporate banking head
Seth Tan brings over 27 years of experience into the role.
China’s big four banks saw market value growth in Q4
But capital ratios and loan-to-deposit ratios declined during the year.
Zhongzhi bankruptcy amplify contagion risks of non-bank wealth management products: analyst
Shadow bank Zhongzhi filed for bankruptcy in January 2024.
Expect ‘stagnant’ Chinese structure finance market in 2024: S&P
Issuance momentum of dominant segments will reportedly remain slow.
Partner insurer payout leaps 23% YoY through Ant Group's insurance arm
Health insurance claims contributed about 5 million claims processed by partner insurers on Ant Insurance
Commentary
Transition and Opportunity: Southeast Asia’s Share of US$7 Trillion Value