On July 25th, Shang Fulin, the chairman of CBRC, disclosed three private banks that had been approved by the CBRC. Hua Rui Bank, planned to be set up by Fosun and Juneyao, was not on the list. Later the Shanghai branch of CBRC revealed that the Fosun and Juneyao partnership had broken up.
Kapronasia's new report entitle "China Moving Abroad - A look at the legal...and not so legal ways Chinese nationals are moving their money abroad" is now available for download on Kapronasia.com. To view and download the report, please go to our research section here.
Earlier this year, we published our 2014 “Top-10 China Banking Industry Trends” report and predicted the advent of direct banks. We were right: in a month Minsheng Bank rolls out its Chinese direct banking institution.
On July 22nd, 2014, Alibaba teamed up with seven banks including ICBC, CCB, CMB, Ping An Bank, Postal Savings Bank of China, Bank of Shanghai and Industrial Bank to roll out new internet business loan service.
China has been going through rapid urbanization during last decades and in the past ten years alone the percentage of population residing in cities has leapt from 40.5% in 2003 to 53.75% in 2013.
The “Notice on Government-set Prices and Government-Guided Prices for Commercial Banking Services”, published by National Development and Reform Commission (NDRC) and China Banking Regulatory Commission (CBRC), is effective on August 1st, 2014.
China is beginning to open its financial sector with the approval of three privately owned banks, extending the wave of financial reforms aimed at boosting China's changing economy.
Kapronasia's ATMs in China 2014 webinar and slides are now available in the webinar section of the website or by clicking here.
Currently there are 637 companies on the IPO list in China and their prospectuses, published by the China Securities Regulatory Commission, reveal business intelligence, previously not available for public.
PBoC’s 2013 annual report shows that foreign banks in China showed steady growth and even outpaced GDP growth in terms of new deposits, but still lag their domestic competitiors.
The latest 2014 China Online Lending Industry Report reveals that China's P2P lending platform industry has grown rapidly both in terms of number of providers and turnover.
On March 1st, 2014, Shanghai FTZ has removed the cap for foreign currency deposit rates, which apply to small accounts with less than USD3 million. After the three-month pilot, the market seems to be running steadily and enterprises in the Shanghai FTZ now can ask for higher rates for their forex deposits with the banks.