China

Profits of the country’s top five banks are expected to rise around 4.7% to 7%.

It crashed from a peak of $9.16t.

Against very clear headwinds due to the trade war and decelerating investment, China's State Council has unveiled plans to take a more aggressive fiscal policy in 2018 with a reduction of corporate and household burden by RMB 1.1 trillion. In the whole year, tax reduction will amount to RMB 800 billion for enterprises and individuals, which is equivalent to 5.5% of total tax revenue in 2017. This includes the adjustment in value added tax, the reduction in corporate tax rate of manufacturing, transportation, and other industries, and the rebate from research and development expense. Another RMB 300 billion will come from reducing non-tax burden on costs in logistics and utilities. The total amount is roughly equivalent to the reduction in corporate burden from the US tax reform of $150 billion (RMB 1 trillion).

It has tapped on Swiss provider Avaloq.

She has been with Citi for nearly two decades.

The central bank has been encouraging lenders to step up lending.

However, bad loans also rose from $26.56b to $284.64b in Q2.

She was previously the Beijing branch manager and head of Corporate Banking Coverage of North China at Deustche Bank.

Authorities are softening the impact of deleveraging through looser guidelines.

The country is home to the world’s largest banks.

Parameters for macroprudential assessments may be lowered.

The German lender has committed to a business volume of $5b in the next five years.

Fitch believes that the possibility of disruption is higher in these markets.

State firms could end up forcing mergers or share capital injections.

The bank has received the greenlight from China's banking regulator.

CBIRC urged banks to manage WMPs based on net value.