China
China raises annual mobile payment limit of foreign visitors to $50,000
The single transaction limit has also been raised to $5,000.
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
Deutsche Bank raises US$141m from second Panda Bond issuance
The German issuer had earlier raised US$143m in January.
Bank of Singapore names Credit Suisse HK chief exec as new GC private banking head
Rickie Chan was also Credit Suisse’s head of global wealth management for Greater China.
Mastercard can commence domestic bankcard clearing activity in China
This follows after authorities first approved Mastercard NUCC’s application in 2020.
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