Bank of China

New Business

China’s push to promote its currency accelerates with landmark Fortescue loan

China has passed another milestone in its efforts to promote the global use of its currency, with the Australian metals…

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New Business

China’s yuan reshaping global order – but US-backed stablecoins seen as a threat

The yuan’s internationalisation remains on an upwards, if uneven, trajectory and is gradually reshaping the global monetary order, according to…

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New Business

China cuts US Treasury stockpiles to 16-year low amid Trump’s trade war

China reduced its stockpile of US Treasuries to a 16-year low in April, as an escalating trade war with Washington…

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Fury as Chinese bank offers to help rich clients’ kids gain top internships

A Chinese bank has triggered outrage by offering to help its rich customers secure prestigious internships for their children, prompting…

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Hong Kong deepens ties with Middle East in Saudi Sukuk ETF’s bullish debut

Hong Kong is taking another big step to strengthen financial-market linkages with the Middle East with the launch of Asia’s…

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Shanghai Gold Exchange eyes Hong Kong vault to promote yuan-denominated products

The Shanghai Gold Exchange plans to expand its warehouse network to Hong Kong, helping to raise the profile of its…

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AIA, Xiaomi lift Hang Seng Index, offsetting losses due to poor China PMI data

Hong Kong stocks climbed on Wednesday as positive news from some index heavyweights, including AIA and Xiaomi, offset concerns about…

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New Business

Hong Kong stocks rise as investors await earnings from HSBC, ICBC, China Construction Bank

Hong Kong stocks rose on Tuesday, as traders kept an eye on the latest developments in the US-China tariff talks…

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China’s 4 top state-owned banks to raise US$72 billion from stock sales to boost capital

Four of China’s biggest state-owned banks plan to raise a combined 520 billion yuan (US$71.6 billion) from new share sales…

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New Business

Chinese state banks’ 2024 profits rise and bad loans dwindle even as margins narrow

Chinese banks are reporting higher profits and smaller bad debts, helped by the central bank’s flexibility on how lenders provide…

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