The SEC alleged that the company falsely reported increases in business operations, financial conditions and profits after it became a public-traded company through a reverse merger.
Overnight SHIBOR slumped by 495.20 basis points to 8.4920 today, after an increase of 578 basis points on Thursday, marking the biggest drop since October 2007
The central bank, under mounting market pressures, continued to issue 91-day treasury bills worth of CNY2billion, a clear sign of its unwillingness in helping easing money strain.
New loans extended by the so-called "Big Four" in the first nine days in June hit 216 billion yuan, exceeding the total of 208 billion for May last year, and well above last June's 180 billion
Central Huijin is clearly demonstrating its intention of keeping the market stable in the unexpected move, analysts say
Hong Kong Securities watchdog has fined Credit Suisse Securities (Hong Kong) HK$1.6 million (206,077 U.S. dollars) for regulatory breaches and internal control failings relating to position limits.
China's financial institutions extended 667.4 billion yuan in new loans in May, down 125.8 billion from a year ago, and missing expectations of over 800 billion
Non-performing loans piled up in China's banking institutions has rallied for the first time in eight years with credit risks looming, says central bank report.
Chinese mainland's banks may have to be revalued against a backdrop of market-oriented interest rate liberalization.
The state's hidden role in guaranteeing deposits has lead to weakening risk control and management and speculative excess in banks.
Monthly drops in new lending from the four banks underscores weakening credit demands in an economy with slowing momentum, said the paper.
ICBC’s Singapore branch is the first RMB clearing bank designated by China in another country
Paris has been competing with London tobecome the leading center for yuan trading in the eurozone after the Bank of England said in February that it planned to sign a deal soon on a three-year currency swap arrangeme
Analysts believe it’s one of Chinese government’s efforts to diverse its foreign reserves which have been invested heavily in the U.S. dollar.
The introduction of preference shares will effectively reduce financing costs for companies, and somehow deal a blow to the country’s shadow banking.
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