Edition:
United Kingdom

Cheng Leng

Exclusive: Chinese banks prepare contingency plans over threat of U.S. sanctions - sources

09 Jul 2020

BEIJING/HONG KONG/SHANGHAI Chinese state lenders are revamping contingency plans in anticipation of U.S. legislation that could penalise banks for serving officials who implement the new national security law for Hong Kong, sources at five state financial institutions said.

Exclusive: China's Fosun seeks sale of $1.3 billion stake in Alibaba's Cainiao - sources

23 Jun 2020

HONG KONG/BEIJING Fosun International is in talks with Alibaba and others to sell a stake worth $1.3 billion (£1.04 billion) in the e-commerce giant's Cainiao, three people said, at a time when Alibaba has been increasing its holdings in the logistics affiliate.

Exclusive: EY finds China copper smelter Fangyuan has misstated accounts - sources

18 Jun 2020

BEIJING/SHANGHAI A report by auditor EY found that Shandong Fangyuan Nonferrous Metals Group, China's biggest privately held copper smelter, has been overstating its profit and production levels while understating its debt, according to two sources with knowledge of the matter.

CORRECTED-EXCLUSIVE-EY finds China copper smelter Fangyuan has misstated accounts -sources

17 Jun 2020

BEIJING/SHANGHAI, June 17 A report by auditor EY found that Shandong Fangyuan Nonferrous Metals Group, China's biggest privately held copper smelter, has been overstating its profit and production levels while understating its debt, according to two sources with knowledge of the matter.

China's troubled Baoshang rescue exposes fault lines in bank reform drive

09 Jun 2020

BEIJING In May 2019, China's central bank announced a shock takeover of a lender, its first such move in 20 years, citing "serious credit risks". Creditors in small Baoshang Bank were to take a hit, assets would be sold and an example set for governance.

BoC settles over half of cases in oil product losses, but disputes remain: sources

13 May 2020

BEIJING/SHANGHAI Bank of China (BoC) has settled with more than half of customers hurt by losses in a crude oil-linked product after a historic oil price slide into negative territory, two sources with direct knowledge of the matter said, but disputes pressure remains.

UPDATE 1-BoC settles over half of cases in oil product losses, but disputes remain - sources

13 May 2020

* BoC settles over half of the cases over oil product losses - sources

China asks banks to halt new sales of products that may lead to unlimited losses, sources say

27 Apr 2020

BEIJING/SHANGHAI The Chinese regulator has asked commercial banks to halt new sales of a wide range of wealth management products that might lead to unlimited losses for investors, two sources told Reuters.

China asks banks to halt new sales of products that may lead to unlimited losses -sources

27 Apr 2020

BEIJING/SHANGHAI, April 27 The Chinese regulator has asked commercial banks to halt new sales of a wide range of wealth management products that might lead to unlimited losses for investors, two sources told Reuters.

How China's retail investor army got burned by the shock oil collapse

24 Apr 2020

SHANGHAI/BEIJING China's retail investors take punts on everything from mainstream stocks to niche commodities and derivatives, and many were badly burned this week by exposure to U.S. oil contracts which collapsed below zero for the first time, wiping out several small accounts.

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