China’s banking and insurance regulator said on Monday it had told all of the country’s banks to sharply increase lending to private companies, as policymakers step up support for the slowing economy. Big state-owned commercial banks should increase outstanding loans …
China will accept applications early next year from foreign insurers seeking to take control of their local joint ventures and is even weighing giving them full ownership earlier than flagged, people with direct knowledge of the matter said. The regulator …
Chinese insurers are channeling funds through shadow lenders to real estate and local government infrastructure projects in a bid to boost returns, six insurance and trust sources told Reuters. The practice undermines Beijing’s efforts to cut local debt risk and …
China is merging its banking and insurance regulators, giving new powers to policymaking bodies such as the central bank and creating new ministries in the biggest government shake-up in years. The revamp is a cornerstone of President Xi Jinping’s agenda …
China’s central bank on Friday issued sweeping guidelines to tighten rules on asset management business, the latest step by Beijing to fend off systemic risks in the country’s rampantly growing shadow banking sector. The guidelines unified rules covering asset management …
China is likely to name a senior Communist Party graft-buster to oversee the insurance sector, people familiar with the matter said, a signal that the country’s ongoing crackdown on irregular business practices in the financial industry may be set to …
Uber Technologies Inc’s global bookings are projected to rise nearly threefold to $10.84 billion this year and reach $26.12 billion the next, according to a recent presentation for potential investors seen by Reuters. The ride-hailing service, which operates in over …
