China

As I scanned my Insurance Day newsletter in London the day I wrote this article, three articles caught my eye “Market Update: trade credit claims rise in 2012 following 30% jump in 2011;” “Trade credit: uncollectable debts rising in North America;” and, then, “Credit insurers call for banks to ‘behave as they should to end financing gridlock [the International Credit Insurance & Surety Association] points at banking sector’s failure to extend credit as major obstacle to economic growth.” Despite the incongruity these headlines demonstrate the synergy between trade finance and trade credit insurance (TCI).

Asia’s banking and finance sector is still actively hiring – evidence that particular skills are in demand in the region despite the current global economic climate. Christine Wright, Operations Director for Hays in Asia, discusses the trends and current opportunities across the region from the latest Hays Quarterly Report.

Maybank President and CEO, Datuk Seri Abdul Wahid Omar, describes the opening of its Beijing branch as strategic and timely.

New corporate loans slumped from RMB 421 billion in August to RMB 293 billion.

Chinese banks loaned RMB623.2 billion in September, down 11% from RMB703.9 billion in August and below the industry estimate of RMB700 billion.

The European Investment Bank will open a representative office in Beijing to expand its presence in China.

China’s biggest bank intends to focus its attention on building its ship finance business in Singapore.

China Huarong Asset Management Co Ltd has been officially transformed into a joint-stock company focused on bank-related businesses.

These 2 supply contracts are for self-service banking equipment from China.

An analyst points out 4 reasons behind the expansion despite China's currently troubled banking sector.

Chinese banks are eager to make acquisitions abroad, but may not have the managerial capability to run major European banks.

That is compared to the 34.2% profit growth in the first semester of 2011.

Blame it on the souring relations between Asia's two biggest economies.

Hana Bank, the banking unit of South Korea's Hana Financial Group, will introduce South Korean-style private banking in China this month.

China did not hesitate to use its clout in the financial sector to voice out protests over the diplomatic row with Japan concerning the Senkaku Islands.

There are now 14 Hong Kong-based bank branches on the Chinese mainland nine years after the signing of a key economic plan.