China
MUFG names ex-JPMorgan banker as managing director of GCIB China
MUFG names ex-JPMorgan banker as managing director of GCIB China
He has served several senior roles in JPMorgan Chase Bank China.
10 overseas e-wallets now usable in China
Alipay+-in-China’s programme added seven new Asian e-wallets.
170 int'l wallets accepted by UnionPay, China
Hong Kong and Macau residents can now use UnionPay App, Octopus card, and BoC Pay.
Citibank China clinches Futures Margin Depository Bank approval
It is the first American bank to clinch the approval.
Chinese joint stock banks turn sour, economic outlook grim
All five banks saw single-digit contractions in operating income.
Chinese banks cut deposit rates: report
The banks cut deposit rates between 5 and 25 basis points.
Weekly Global News Wrap: US floats stricter regional bank rules; Some China banks to cut mortgage rates
And Wells Fargo has agreed to return $40m in overcharged fees to 11,000 customers.
China’s financial sector may be hit by Zhongrong’s missed payments
The ongoing property sector downturn poses a larger risk for the trust industry.
China state-owned banks to post ‘sharp’ revenue decline: report
Banks are battling lower lending rates, ongoing property woes, and low interest margin.
Weekly Global News Wrap: China floats $1.3m asset minimum for hedge fund industry; US levels banks with $549m in penalties
And the Netherlands’ Rabobank sees profits double in H1.
Mastercard enables China visitors payment option through WeChat Pay
Inbound cross-border travel to China improved to around 50% of 2019 levels.
China allegedly asks banks to delay dollar buying to slow yuan depreciation: report
The yuan hit an eight-month low in July.
Lower mortgage rates may have slight effect on Chinese banks and RMBS: Fitch Ratings
Policy adjustments to lower mortgage rates on existing loans could pressure Chinese banks' net interest margins and profitability.
Luxury travel retailer DFS taps Alipay+ to offer cross-border payments for Asian travellers
DFS and Alipay are also developing other membership offers and rewards.
China taps banks to bolster cross-border trade, offer financial support
Additional support will be provided for export-related credit insurance.
HSBC builds up China green finance team: report
It also mulls offering carbon offset products to customers, a source said.
Chart of the Week: 8 in 10 Chinese consumers use mobile wallets
High cost of POS terminals and insufficient payment infrastructure push e-wallet use.
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