Banking regulator highlights property risk control
China Banking Regulatory Commission named 10 risks to tame, including those related to credit, liquidity, property, local government default, bond volatility and internet finance, National Business Daily reported.
CBRC fines 17 banks for 25 irregularities
The China Banking Regulatory Commission said it fined 17 financial institutions a total of 42.9 million yuan (US$6.21 million) for evading rules and violating policies, with Ping An Bank accounting for 16.7 million of that, followed by Hua Xia Bank and EGB.
PBOC spearheads modern financial regulatory regime in new zone
The central bank held a joint discussion panel with other top government bodies to devise a concept for a unified approach on financial regulation that parallels the integrated development of the Beijing-Tianjin-Hebei cluster, Securities Daily reported, citing Pan Gongsheng, a vice governor of the central bank.
Irrational overseas investment should not be allowed: Xinhua
Blind and uncontrolled spending on foreign assets must not be allowed, Xinhua said in a commentary. A government clampdown on “irrational speculation” on overseas assets led to a 52.8% drop in non-financial outward direct investment in January and February from a year earlier, Xinhua said.
NDRC calls for further power industry deregulation
National Development and Reform Commission urges local government to further reform the power sector and avoid the construction of unnecessary plants that have no demand in the market, National Business Daily reported.
Mortgages account for 60% of Big Four’s new loans in 2016
The four biggest state-owned banks — ICBC, CCB, ABC and BOC — issued 2.7 trillion yuan of housing loans in 2016, accounting for more than 60% of new home lending, according to China Economic Weekly.
Info Tech sector is the largest component of SZSE
Info Technology companies accounted for about one-fifth of the value of the Shenzhen Stock Exchange, with a market capitalization of 4.1 trillion yuan (US$594 billion) at the end of March.
Cloud computing on… a cloud
The cloud computing industry is expected to reach 430 billion yuan by 2019, with two or three leading Chinese enterprises accounting for a major share of the global cloud computing market, the Ministry of Industry and Information said, reported by Caixin.
10% of companies reliant on government handouts
Government subsidies of 34 billion yuan made up more than half the profits for about 10% of listed companies that have announced earnings, Securities Daily reported.
Chongqing targets decorations to drive growth
Chongqing is targeting a slice of the high-end decorations market — forecast to reach 500 billion yuan by 2020 — as a key driver of growth after its auto and electronics industries, 21st Century Herald said.