China’s Mega Banks Trim Deposit Rates as Stimulus Hits Profits
China’s largest state-owned lenders have cut their deposit rates on Friday, their second reduction this year as they rushed to salvage record low margins amid weakened profitability.
China’s Major Commercial Banks Cut Deposit Rates Again
Major Chinese banks have cut their deposit rates, a move that could help ease pressure on lenders’ profits.
China's Big Banks to Cut Existing Mortgage Rates Oct 25
BEIJING (Reuters) - Four of China's biggest state-owned banks announced cuts on Saturday to existing mortgage rates starting on Oct. 25, as the authorities ramp up efforts to stimulate the world's second-biggest economy.
China Banks Weigh Trimming Deposit Rates as Early as This Week, Bloomberg News Reports
In September, People's Bank of China Governor Pan Gongsheng said the central bank would further lower deposit rates by 20 to 25 bps. The cuts, if to be implemented, would be the second round of across-the-board cuts this year after July.
China's major lenders lower deposit interest rates
The one-year fixed-term deposit interest rate was cut by 25 basis points to 1.1 percent, according to the official deposit interest rates released by Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China and Bank of Communications.
China's Top Banks Cut Interest Rates On Yuan Deposits: State Media
China's top banks on Friday cut interest rates on deposits in yuan for the second time this year, state media said, as Beijing seeks to boost sluggish consumption.
China cenbank chief flags more interest rate cuts
China's central bank governor said on Friday the reserve requirement ratio for commercial lenders could be cut further by 25 to 50 basis points by the year-end depending on liquidity conditions, keeping the door open to more policy easing steps.
Former China deputy central bank head gets suspended death sentence for taking bribes
Fan Yifei was found guilty of illegally accepting property worth more than 386 million yuan, around $54.55 million ...
Yen on MSN9d
China to pump $325 billion into economy over next three months
Bank of China, and China Construction Bank had announced that they would make the adjustments “in batches”. The banks ...
McKinsey cuts hundreds from China workforce
McKinsey is overhauling its China business after cutting back on government-linked clients and reducing the unit’s workforce ...
China’s central bank to cut reserve ratio, bolster property and capital market
People’s Bank of China governor Pan Gongsheng said on Friday that China’s central bank would consider further cutting commercial bank’s reserve requirement ratio (RRR) in the fourth quarter to help ...
China tees up fresh spending to boost ailing economy
China said Saturday it would issue special bonds to help its sputtering economy, signaling a spending spree to bolster banks, ...
China's DaFa Properties ordered to wind up
(Reuters) -Chinese residential property developer DaFa Properties Group and its unit have been ordered to wind up by Hong ...
Daily Monitor11d
Former China deputy central bank governor gets suspended death sentence for taking bribes
Fan Yifei accepted bribes of an extremely large amount and the circumstances of his crimes were extremely serious ...