The People's Bank of China (PBoC) has suspended the use of virtual credit cards and quick response (QR) code payment provided by China CITIC Bank Corporation Ltd. (00998.HK), Alibaba Group's Alipay an ...More
EJ Insight2014-03-14
Hong Kong's benchmark Hang Seng Index (HSI) continued its retreat Friday after the central bank's ban on virtual credit cards weighed heavily on the technology, software and electronic payment sectors ...More
EJ Insight2014-03-14
The People's Bank of China has suspended the use of virtual credit cards and barcode payment by Alipay and Tencent Holdings Ltd. (00700.HK), 21st Century Business Herald reported Friday. The central b ...More
EJ Insight2014-03-14
Internet funds keep draining money from bank deposit accounts, and there seems little banks can do to stop the trend. To cope with the onslaught, lenders are being forced to rethink their business str ...More
EJ Insight2014-03-14
Hong Kong's stock market appears to have entered a correction phase, with the benchmark Hang Seng Index (HSI) slumping more than 360 points on Wednesday, dragged down by weak overseas sentiment and wo ...More
EJ Insight2014-03-12
Alibaba Group unit Alipay and Tencent Holdings Ltd. (00700.HK) said on Tuesday that they will cooperate with China CITIC Bank Corp. Ltd. (00998.HK, 601998.CN) in virtual credit cards, China Securities ...More
EJ Insight2014-03-12
China CITIC Bank Corp. Ltd. (00998.HK, 601998.CN) plans to issue interbank negotiable certificates of deposit (NCDs) worth 2 billion yuan (US$326.07 million) Monday with maturity of six months, Nation ...More
EJ Insight2014-03-10
Hong Kong's benchmark Hang Seng Index (HSI) ended a volatile trading session Wednesday, the first day of the National People's Congress's annual session. The HSI climbed as much as 181 points in the ...More
EJ Insight2014-03-05
In little more than six months, Alibaba's hugely popular investment fund product Yu’E Bao has helped its fund partner Tianhong Asset Management shoot to fame and grab the number one position in China ...More
EJ Insight2014-02-27
Bank of Beijing Co. Ltd. (601169.CN) and mobile phone maker Xiaomi Inc. have agreed to establish an online finance business, Shanghai Securities News reported Thursday without citing a source. They wi ...More
EJ Insight2014-02-20
Hong Kong shares closed higher on Wednesday, taking the cue from mainland peers and other overseas stock markets. The benchmark Hang Sang Index added 76 points or 0.34 percent to finish at 22,664 poin ...More
EJ Insight2014-02-19
China CITIC Bank Corp. Ltd. (00998.HK, 601998.CN) is facing mounting bad loans in its Shanghai operations, mostly to steel traders in the Yangtze River Delta region, news website caijing.com reported ...More
EJ Insight2014-02-18
China CITIC Bank Corp. Ltd. (00998.HK, 601998.CN) expects last year's unaudited net profit to come in at about 39 billion yuan (US$6.43 billion), Panorama Network reported Sunday, citing a regulatory ...More
EJ Insight2014-02-17
China CITIC Bank Corp. Ltd. (00998.HK, 601998.CN) said in a stock exchange filing Thursday that its cooperation with UnionPay and Alibaba is limited to regular business between the bank and a client, ...More
EJ Insight2014-02-14
China CITIC Bank has been approved to issue up to 1.5 billion yuan (US$246 million) of yuan-denominated "dim sum" bonds in Hong Kong, Xinhua reported Thursday, citing the bank. The bank said the princ ...More
EJ Insight2014-02-13
CTBC Bank Co. Ltd., the banking arm of Taiwan’s CTBC Financial Holding Co. Ltd., plans to buy all the shares of CITIC Bank International (China) Ltd., a wholly owned subsidiary of CITIC International ...More
EJ Insight2014-01-28
Guangzhou banks have almost stopped offering preferred mortgage rates for first-time home buyers, and some lenders have even raised the rate by up to 20 percent against the base rate, National Busines ...More
EJ Insight2014-01-24
Zhu Xiaohuang, president of the state-owned China CITIC Bank Corp. Ltd. (601998.CN, 00998.HK), will be moved from his current post and asked to take up the chief supervisor position at parent CITIC Gr ...More
EJ Insight2014-01-14
Mainland bank shares fell Friday after some qualified foreign institutional investors adjusted holdings to reflect changes in the makeup of some overseas indexes, the Securities Times reported Monday, ...More
EJ Insight2013-12-23
China UnionPay (CUP) said it has teamed up with seven other card-issuing institutions to launch a mobile payment service based on its Near Field Communications (NFC) technology platform, the Securitie ...More
EJ Insight2013-12-13
