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Bank of China Denies Report Alleging Money Laundering Aid

Bank of China Ltd. denied a report by the state broadcaster alleging it broke the nation’s foreign-exchange rules by providing services that help clients move “dirty money” abroad, Bloomberg News reported. Reports by China Central Television and other me ...

Daily Headline - global.abi.org - 07/09/2014 - 22:32 - 0 comments

China Should Let More Ailing Firms Fail - Deputy Central Bank Governor

China should let more ailing firms go bankrupt to help improve economic mechanisms rather than allow them to get government-led bailouts, a deputy central bank governor said on Tuesday, Reuters reported. The risk of corporate failures is rising as econom ...

Daily Headline - global.abi.org - 07/09/2014 - 00:18 - 0 comments

China Changes Bank Loan-to-Deposit Calculation for Growth

Chinese regulators increased banks’ capacity to lend money and bolster the slowing economy by changing the way loan-to-deposit ratios are devised, Bloomberg News reported. Banks from today can include in the calculation negotiable certificates of deposit ...

Daily Headline - global.abi.org - 06/30/2014 - 22:04 - 0 comments

Chinese Bank Discloses Local Government Financing Vehicle Default

In the latest sign of the mounting risks to China’s debt market, a bank for the first time ever reportedly disclosed the default on a loan by a local government financing vehicle, Fox Business News reported. Over the weekend, the 21st Century Business He ...

Daily Headline - global.abi.org - 06/30/2014 - 22:06 - 0 comments

World’s Biggest Debt Load Lures Distressed Funds to China

Distressed debt funds are raising cash to seek greater opportunities in China, where Standard & Poor’s says corporate borrowing topped the U.S. last year, Bloomberg News reported. Planned commitments to funds investing in Chinese and other Asian trou ...

Daily Headline - global.abi.org - 06/27/2014 - 00:35 - 0 comments

China Finds $15 Billion of Loans Backed by Fake Gold Trades

China’s chief auditor discovered 94.4 billion yuan ($15.2 billion) of loans backed by falsified gold transactions, adding to signs of possible fraud in commodities financing deals, Bloomberg News reported. Twenty-five bullion processors in China, the big ...

Daily Headline - global.abi.org - 06/27/2014 - 00:36 - 0 comments

Beijing Accuses Banks And Developers Over Property Market

fell 0.2 per cent in May from April, data showed last week, the country’s first monthly decline in two ...

Daily Headline - global.abi.org - 06/23/2014 - 23:20 - 0 comments

China Banks Seek Profit Boost Through Their Bad Debts

Major Chinese banks want to manage their own bad debts, attracted by the outsize profits being earned by recovery firms, in a sign of confidence that investments in internal risk assessment teams are set to pay off, Reuters reported. If they are right, i ...

Daily Headline - global.abi.org - 06/22/2014 - 22:52 - 0 comments

As Chinese Leader Takes On Graft, Relatives Are Said to Shed Investments

As President Xi Jinping of China prepares to tackle what may be the biggest cases of official corruption in more than six decades of Communist Party rule, new evidence suggests that he has been pushing his own family to sell hundreds of millions of dolla ...

Daily Headline - global.abi.org - 06/17/2014 - 22:40 - 0 comments

China’s No-Money-Down Housing Echoes U.S. Subprime Lending Risks

China’s home buyers are being offered no-money-down purchases in an echo of the subprime lending that triggered a U.S. economic meltdown and the global financial crisis, Bloomberg News reported. Deals skirting government requirements for minimum 30 perce ...

Daily Headline - global.abi.org - 06/12/2014 - 22:49 - 0 comments

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