China  has authorized two banks to invest 3.5 billion US dollars of their clients' money overseas, bringing total approvals so far under a scheme to promote capital outflows to 8.3 billion US dollars, Reuters reported.

China UnionPay not only faces increased competition from global giants Visa and Mastercard but also from public criticism about market monopoly, Nanfang Daily reported.  

The president of China Construction Bank Corp., Chang Zhenming, will move to China's state-owned Citic Group, China Daily reported, citing the bank’s statement.

HSBC has launched customdian services for Mainland commercial banks that are eligible to provide overseas welath management servcies undre the Qualified Institutional Investor (QDII) scheme, Forbes reported.

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Everbright Bank introduced new home loans last week whose rates are fixed between 6% and 7%, but a Midland China survey shows that this move has yet to have an effect on the Chinese housing market....

Coming up on the “golden week” holiday after the National Day celebration on 1 October, some of China’s banks have raised their currency exchange fees for their card-holders, reports Beijing’s Legal Mirror. Visa and MasterCard cards issued by China Construction Bank will have their currency exchange fees raised to 1.5% starting 1 October.

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China's banks are starting to charge fees to depositors who fall outside of the norm. The idea of a maintenance charge for low-balance accounts has been mulling for quite some time within the industry, and China's large banks have finally begun to implement fee schemes. China Construction Bank yesterday started collecting quarterly fees from any depositor whose balance falls below a certain minimum, and in response, Bank of China, Industrial and Commercial Bank, and Agriculture Bank announced their plans as well.