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News from China
Foreign lenders develop steadily and see progress
16th August 2017

 FOREIGN banks in Shanghai posted an over 6 percent rise in total assets in the first half of the year and made progress in innovation as well as deepening cooperation with Chinese banks for the Belt and Road initiative.

 
By June, the total assets held by foreign banks in Shanghai gained 6.4 percent year on year to 1.36 trillion yuan (US$240 billion). Their loan balances and deposit balances rose while the non-performing loan ratio fell to a two-year low of 0.51 percent. The data signaled their steady growth and that their risks were generally controllable.
 
The Chinese government’s promotion of the Belt and Road initiative has prompted foreign banks in Shanghai to deepen cooperation with Chinese banks on projects related to it. With their built-in advantages such as international networks and integrated products, foreign banks actively helped Chinese companies to expand at home and abroad under the initiative.
 
Chinese and foreign banks attended a meeting on cooperation in business innovation held by Shanghai Banking Association in the first half of the year. At this meeting, eight foreign banks signed contracts with five Chinese banks to cooperate in innovation pilot reform programs.
 
In the first six months, three innovation pilot reform programs of foreign banks in Shanghai have been initiated and they accounted for half of the total six programs launched through the innovation supervision and interaction mechanism of the China Banking Regulatory Commission Shanghai Office.
 
Foreign banks had also played their part in serving the real economy. By the end of June, foreign banks in Shanghai had invested 7.9 billion yuan in the manufacturing industry, which accounted for nearly 40 percent of the new loans in the first half of the year.
Source: Shanghai Daily, August 16, 2017
Chinese see consumer confidence up
14th August 2017

 Chinese consumers continued to be willing to spend and were optimistic about personal income growth and job opportunities due to a stabilizing economy, a survey said.

China’s Consumer Confidence Index rose two points from the first quarter of the year to 112 points in the second quarter to notch the highest score since the fourth quarter of 2013, according to the survey from global market research firm Nielsen.

Nielsen’s CCI measures perceptions about local job prospects, personal finance and immediate spending intentions. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism, respectively.

Nielsen’s CCI in the second quarter showed the steady growth of China’s economy, which grew 6.9 percent in the quarter, unchanged from the first three months.

China’s development strategies, including development of the Beijing-Tianjin-Hebei region, and the Belt and Road Initiative, help the Chinese economy grow steadily, and upgraded consumption is accelerating as more Chinese are willing to spend, said Vishal Bali, managing director of Nielsen China.

The survey showed personal finance grew to 69 from 66 while perceptions about local job prospects gained to 68 from 66. Immediate spending intentions rose from 55 to 56.

Source: Shanghai Daily, August 14, 2017
Chinese banks should seek clients to profit
11th August 2017

 BANKS in China should focus on clients to pursue higher profit and reduce reliance on capital expansion as part of reforms in the industry, McKinsey said in a report yesterday.

 
Banks will usually spend between 5 and 15 years on reforms in order to improve asset quality, said John Qu, senior partner of McKinsey & Company.
 
“Reforms in China’s banking industry is an all-out battle that involves retail, corporate, asset management, organization, information technology, and risk management risks,” said Qu. “Banks need to focus on all these six sectors to ensure success.”
 
Profit growth of Chinese banks hit a brake in the past five years amid interest rate liberalisation, slower economic growth, and tighter regulation against leverage.
 
The overall profit growth in the banking industry slowed from 13.1 percent year on year in the first quarter of 2013 to 4.6 percent in the first three months of this year, data from the China Banking Regulatory Commission showed.
 
McKinsey said Chinese banks will have to prioritize improving client experience across retail, corporate, and asset management units as part of their reform process, said McKinsey’s quarterly Chinese banking industry CEO report.
Source: SH
Financial shares pull index lower
10th August 2017

 SHANGHAI stocks dipped yesterday following declines by financial-related companies and also on factory-gate inflation data that may prompt regulators to maintain controls.

 
The Shanghai Composite Index fell 0.19 percent to close at 3,275.57 points.
 
Banks and brokerages were among the decliners, with Ping An Bank Co easing 2.29 percent to 5.55 yuan, and CITIC Securities Co off 1.15 percent to 17.14 yuan.
 
Data released yesterday showed that July's Consumer Price Index rose 1.4 percent and the Producer Price Index gained 5.5 percent for the third straight month. Market sentiment dimmed after investors worried the rise in PPI may press regulators to keep controls imposed earlier this year to contain risks from a rapid build-up in debt.
 
“The inflation numbers were a bit better than expectations, and show there is basically no inflation pressure. It’s likely the central bank will remain with monetary policy that’s neither tight nor loose,” said Zhang Gang, analyst at China Central Securities.
Source: Shanghai Daily, August 10, 2017

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