HONG KONG Bankers and brokers in China are expecting a brutal bonus season over the next few weeks, as business dwindled on local stock markets last year, dragging industry profits down by half.
SHANGHAI Chinese banks are hiring blockchain experts as the government pushes use of the technology behind bitcoin to increase transparency and combat fraud in its financial sector.
SHANGHAI China's forex regulator is telling banks to keep its instructions about curbing capital outflows secret and to ensure that research analysts keep any negative views about the yuan's prospects to themselves, several bankers said.
SHANGHAI China has opened the way for foreign asset managers to begin launching private investment funds in the country through local subsidiaries, by publishing long-awaited registration rules for such investments.
BEIJING/SHANGHAI China's authorities have sounded the alarm in recent weeks over the risk of capital outflows from the economy, but there was little evidence at Beijing and Shanghai banks on Tuesday that Chinese individuals were rushing to lock in 2017 quotas to buy foreign exchange.
SHANGHAI China's foreign exchange regulator said that, starting Jan. 1, 2017, it will step up scrutiny on individual foreign currency purchases and strengthen punishment for illegal money outflows, but the $50,000 annual individual quota will remain unchanged.
BEIJING China unveiled plans on Friday to allow more foreign investment in banking, insurance, securities and credit-rating firms, as part of a wider opening up of the world's second-largest economy.
SHANGHAI Ma Yiqing, 24, is typical of China's younger generation - he uses his credit card frequently and borrows from online platforms to fund his shopping habits. In a pinch, he is happy to fall back on a lender closer to home - his mum and dad.
SHANGHAI Bank of China, one of the country's "Big Four" state banks, has begun to sharply limit corporate customers' ability to purchase foreign currency in Shanghai, in what sources said on Friday was a bid to help stem capital outflows and ease depreciation pressure on the yuan.