China
China’s payment system gets boost from renminbi rise
China’s payment system gets boost from renminbi rise
African SMEs get the same level of service as large companies under a more open China.
China's financial sector intensifies efforts to stabilise economy
The transformation of the monetary policy framework has also accelerated.
Hong Leong Bank's profit outlook positive amidst SME lending boost
It is projected to maintain tangible common equity at approximately 14% of risk-weighted assets.
Hangzhou Finance and Investment cuts property asset dependence
S&P also forecasts HFIG’s debt-to-adjusted total equity (ATE) ratio to improve.
China Bohai Bank sells $4.1b in assets to reduce risk
This sale is executed at a 30% discount to face value.
OCBC’s Q3 2024 net profit rises 9% to $1.50b
Operating expenses rose 9% to $1.11b.
e-CNY expansion may curb banking income: S&P Global Ratings
It could reduce expenses for companies and facilitate international payments.
IATA to offer digital currencies in its financial settlement systems
It will being offering the digital renminbi in the China Billing and Settlement Plan.
China’s investment banking fees drop 25% in 9M 2024
ECM underwriting fees, M&A advisory fees, and syndicated lending fees all registered declines.
China property sector bailout to hit banks’ asset quality, solvency
Solving the issue of heightened inventory may cost 2.6% of China’s GDP.
China push to stimulate consumption may need more time
For banks, the lower mortgage rates could hurt profits in the short term.
Chinese banks’ earnings decline narrow, but retail NPLs could be an issue
Earnings of 16 large banks are 0.5% lower than in H1 2023.
China’s big four banks face $100b shortfall in loss-absorbing capital
The banks have not yet met their required loss-absorbing capacity levels.
Chinese small bank M&As to ramp up: Fitch
The lack of large banks in the mergers is to avoid contagion risks.
Hong Leong Bank may reduce China stake as investment pays off
Its group earnings edge on overreliance on the Bank of Chengdu’s contribution.
Ant Group unveils AI financial manager Maxiaoca
It has attracted 70 million monthly active users as of August 2024.
Mobile payments by tourists in China rise sixfold
The number of international tourists using mobile payment services quadrupled.
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