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China okays Bank of Liaoning s acquisition of two local banks

China okays Bank of Liaoning s acquisition of two local banks
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Regulatory commissionYingkou coastal bank

China tells banks, insurers to prepare living wills�

China's banking and insurance watchdog issued rules on Wednesday requiring sizable banks and insurers to prepare recovery plans in the unlikely e

Cheng lengYingkou coastal bankAgricultural bankChina construction bankPing an insurance groupInsurance regulatory commissionCommercial bankசெங் லெங்சீனா கட்டுமானம் வங்கிபிங் ஒரு காப்பீடு குழுகாப்பீடு ஒழுங்குமுறை தரகுவணிகரீதியானது வங்கி

The week in review: China pledges $3bn in Covid-19 aid, Beijing tightens cryptocurrency scrutiny, Bank of Liaoshen gets approval

The week in review: China pledges $3bn in Covid-19 aid, Beijing tightens cryptocurrency scrutiny, Bank of Liaoshen gets approval
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China s Liaoning province to merge 12 local banks to defuse regional risks

By Reuters Staff 3 Min Read BEIJING, Jan 28 (Reuters) - China’s northeastern province of Liaoning plans to merge 12 local city commercial banks to contain risks in the regional banking system amid a deteriorating economy in the rustbelt province. The local authority would apply to set up a new provincial level commercial bank, formed by merging 12 city banks, according to a Liaoning government statement posted on the website of the People’s Bank of China (PBOC). The statement did not provide any bank names. The provincial government would bring in strategic shareholders for the new bank, it said, including the state-owned Liaoning Financial Holding Group and PBOC’s deposit insurance fund.

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Where to put your money now? Online deposits face stricter supervision

Where to put your money now? Online deposits face stricter supervision Jan 08, 2021, 17:28 Chinese people tend to be savers. Where they once carried bags of money to deposit in banks, most have come to the habit of clicking their mobile phones to invest in savings products through third-party brokers. Online deposit products have grown so fast that once diehard skeptics like Shanghai health manager Lily Li, 32, finally succumbed to the digital transformation of banking and began investing in bank wealth-management products via Ant Group’s Alipay mobile payment app. But now she is facing yet another transformation in the industry. Nonbank, online third-party platforms such as Alipay, Tencent’s WeChat Pay and JD Finance, which once were major force in promoting bank-deposit products, have come under government scrutiny for what one high-ranking official called “driving without a license.”

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