Postal Savings Bank of China and China Citic Bank will join four other state banks in conducting initial tests and creating services for the digital currency.
September 3, 2020The former relationship manager is said to have falsely represented to customers that an additional fee was needed to open an account with CITIC - which he then pocketed.
August 27, 2020The China National Clearing Center has signed an agreement with three major banks to use their blockchain forfaiting platform to enhance its letter of credit system.
August 12, 2020Banks have reportedly been directed to reduce their structured deposits to January levels, as part of CBIRC efforts to stamp out abuse of cheap loans.
June 11, 2020The banks were each fined between 1.6mn and 2.7mn yuan for underreporting information on certain transactions, wealth management products, and credit asset transfers.
May 14, 2020Last week, a Chinese stand-up comedian accused the bank of disclosing his personal transaction information to his employer without consent.
May 13, 2020The framework will enable foreign banks in China to set up separate digital banking platforms, while also covering existing online-only banks WeBank, MYbank and AiBank.
January 15, 2020Indigenous virtual banks, global digital-only banks, and digitised traditional banks are all vying for market share, says a new report from S&P Global Ratings.
July 18, 2019