China
Weekly Global News Wrap: US floats stricter regional bank rules; Some China banks to cut mortgage rates
Weekly Global News Wrap: US floats stricter regional bank rules; Some China banks to cut mortgage rates
And Wells Fargo has agreed to return $40m in overcharged fees to 11,000 customers.
China’s financial sector may be hit by Zhongrong’s missed payments
The ongoing property sector downturn poses a larger risk for the trust industry.
China state-owned banks to post ‘sharp’ revenue decline: report
Banks are battling lower lending rates, ongoing property woes, and low interest margin.
Weekly Global News Wrap: China floats $1.3m asset minimum for hedge fund industry; US levels banks with $549m in penalties
And the Netherlands’ Rabobank sees profits double in H1.
Mastercard enables China visitors payment option through WeChat Pay
Inbound cross-border travel to China improved to around 50% of 2019 levels.
China allegedly asks banks to delay dollar buying to slow yuan depreciation: report
The yuan hit an eight-month low in July.
Lower mortgage rates may have slight effect on Chinese banks and RMBS: Fitch Ratings
Policy adjustments to lower mortgage rates on existing loans could pressure Chinese banks' net interest margins and profitability.
Luxury travel retailer DFS taps Alipay+ to offer cross-border payments for Asian travellers
DFS and Alipay are also developing other membership offers and rewards.
China taps banks to bolster cross-border trade, offer financial support
Additional support will be provided for export-related credit insurance.
HSBC builds up China green finance team: report
It also mulls offering carbon offset products to customers, a source said.
Chart of the Week: 8 in 10 Chinese consumers use mobile wallets
High cost of POS terminals and insufficient payment infrastructure push e-wallet use.
Bank of Shanghai to have sound asset quality, profitability at 0.7%: Moody’s
The bank’s net income/tangible assets fell to 0.74% in 2022 due to a decline in net interest income and fee income.
Ping An Bank commits first loan for carbon capture project in China
The project is valued at RMB180m ($24.8m).
NIM to offset China CITIC Bank elevated credit costs: Moody’s
The reopening of mainland China will drive sales of wealth management and insurance products.
Alipay, Mastercard enables visitors to transact digitally in China
Regardless of the origin of their Mastercard card, travellers can opt to choose this payment method.
PwC, StanChart release analysis on CBDCs' role in future banking
The paper highlights CBDCs programmability and how they can revolutionise retail, trade, and supply chain finance.
China CITIC Bank, FWD Macau establish bancassurance partnership in Macau
This is their first bancassurance collaboration in Macau.
Thought Leadership Centre
Most Read
1. Standard Chartered taps Roger Charles to head CIB sustainability 2. Which bank brands are most favored by Singapore’s wealthiest? 3. Citi named primary liquidity provider in RMB repo scheme 4. Deutsche Bank, StanChart close $184m loan for satellite developments 5. Citi sees APAC convertible/ exchangeable bond issuance hitting record highResource Center
Read Here
Advertise
Sign Up
Event News
Discover how interconnected data centres are enabling banks to accelerate innovation, strengthen compliance, and achieve sustainable growth.
Commentary
Navigating liquidity challenges for VCs in Asia Pacific
Show, don’t tell: Asian banks need to prove simplification works – here’s how