July 30 – Net interest income and operating revenue of publicly traded Chinese banks will grow at a slower pace of 10% this year, the China Banking Association predicted. The listed banks' net profit growth is estimated to slow to 8% in 2013, with a very small chance of net profit decline. China removed the lending rate floor in July, which is expected to increase competition and hence weigh on earnings.

July 29 – Outstanding loans extended by microcredit companies amounted to 704 billion yuan as of the end of June 2013, an increase of 112 billion yuan from the end of 2012, according to data from the People's Bank of China. There were 7,086 microcredit companies in China as of the end of June 2013, employing over 82,000 people.

July 25 – The value of China's banking transactions done via cellphones reached 2.22 trillion yuan in Q2 2013, up 56.2% from a quarter earlier, according to EnfoDesk data. China Construction Bank led the mobile banking market in Q2 2013 with a 35.4% share, followed by 32% for Industrial & Commercial Bank of China and 12.1% for Bank of Communications.

July 24 – China's banking sector had 141.3 trillion yuan in total assets and 132 trillion yuan in total liabilities as of the end of June 2013, up 13.5% and 13.2% year on year respectively, according to the China Banking Regulatory Commission.

July 22 – Chinese financial institutions sold a net 41.2 billion yuan worth of foreign currencies in June, decreasing China's positions for foreign exchange to 27.39 trillion yuan, according to the People's Bank of China. It was the first net selling, instead of purchasing, in 7 months.

July 19 – Loans made to China's property market more than doubled to 1.3 trillion yuan in 1H 2013 compared with a year earlier, according to central bank figures. That amount represented 27.1% of total lending during the same period. Outstanding loans linked to property development and to personal mortgage amounted to 3.26 trillion yuan and 9.07 trillion as of the end of June 2013, up 11% and 21.1% respectively from a year earlier.

July 18 – The value of wealth management products reached 9.85 trillion yuan as of the end of June 2013, said China Banking Regulatory Commission official Wang Yanxiu. That was up significantly from 500 billion yuan as of the end of 2007. Wealth management products are short-term investments disguised as deposits with higher yield than regular deposit rates.

July 12 – China's Renminbi-denominated loans totaled 860.5 billion yuan in June and 5.08 trillion yuan in 1H 2013, according to the central bank. Renminbi-denominated deposits totaled 1.6 trillion yuan in June and 9.09 trillion in 1H 2013.

July 11 – China's banking industry remains one of the most important parts of Temasek's portfolio as the Singaporean sovereign wealth fund continued to be upbeat about the world's second largest economy despite a slowdown, said Ding Wei, the head of Temasek China. Temasek said in a previous report that China is reshaping its economy for a more steady and sustainable structure. Temasek is a significant shareholder of China's large-cap banks.

July 3 – The net profits of China's banks are expected to grow 10% this year, which is slower than those in previous years, the China Securities Journal reported.

You are currently reading words of total words in this article.
To continue reading this article, you must be a subscriber. Log in now..

Finish this article for free.
Related Articles
C-M-O-D-O AUTHENTIC SITE PayPal
@2014 China Economy @ China Perspective.
All Right Reserved.
Server SSL Certificate