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Bank of China in first yuan bond issue in Paris

Last Updated: Tuesday, July 08, 2014, 19:21

Paris wants to become a leader in Europe for trade in China`s tightly controlled currency, also known as the renminbi.

Global bank profits hit $920 billion as Chinese lenders boom

Last Updated: Monday, June 30, 2014, 09:05

China`s top banks accounted for almost one-third of a record $920 billion of profits made by the world`s top 1000 banks last year, showing their rise in power since the financial crisis, a survey showed on Monday.

Bank of China approved for yuan clearing in Frankfurt

Last Updated: Thursday, June 19, 2014, 18:34

China`s central bank has approved Bank of China, one of the country`s major financial institutions, as the clearing bank for yuan transactions in Germany`s financial centre Frankfurt, it said Thursday.

$5 bn-plus irregularities at China fund, banks: State auditor

Last Updated: Thursday, June 19, 2014, 17:43

China Investment Corporation (CIC), Bank of China and Agricultural Development Bank of China violated regulations in areas including asset selling, loan issuance and fraudulent invoicing, according to the National Audit Office (NAO).

China to start direct yuan trade with British pound

Last Updated: Wednesday, June 18, 2014, 18:09

China will start direct trade between its yuan currency and Britain`s pound on Thursday, the country`s foreign exchange trade platform said, in another step on its push to internationalise the unit.

China to reduce rural banks' reserve requirements

Last Updated: Tuesday, June 10, 2014, 00:21

China's central bank today announced details of a plan that reduces the amount of money rural banks must keep in reserve, a move aimed at stimulating the economy amid slowing growth.

Investors look to China and US after ECB fights deflation risk

Last Updated: Sunday, June 08, 2014, 19:22

This week`s light calendar gives investors room to digest the European Central Bank`s radical moves to avert deflation and look beyond US data which, in more normal times, might imply higher interest rates.

SC allows sale of Sahara properties to raise money

Last Updated: Thursday, May 29, 2014, 20:07

The Supreme Court allowed the Sahara Group to approach its creditor Bank of China for selling equities in three offshore hotels to raise money.

China growth target vulnerable as economy's momentum fades

Last Updated: Wednesday, May 14, 2014, 16:39

After annual economic growth slowed to an 18-month low of 7.4 percent in the first quarter, data for April has raised the possibility it could slow further.

Chinese bank launches 'Pretty Mom' credit card

Last Updated: Saturday, April 19, 2014, 19:12

The bank is counting on women clients in cities to upgrade the bank's credit card services, said Liu Guiping, ABC's business director.

China`s ICBC 2013 full-year net profit up 10.2%

Last Updated: Thursday, March 27, 2014, 17:22

The Industrial and Commercial Bank of China, the country`s biggest lender by assets, said on Thursday its net profit rose 10.2 percent last year, amid "still-complicated" global economic situation.

Bank of China 2013 net profit up 12%

Last Updated: Wednesday, March 26, 2014, 17:57

Bank of China said Wednesday its 2013 net profit rose 12 percent on the back of recovering global markets and stable growth in the Chinese economy.