China

China has released its 12th Five-Year Plan for the Development and Reform of the Financial Industry it hopes will promote the continued healthy development of its battered financial industry.

China's top ten banks will register slower growth during the rest of the this year due to economic slowdown and overdue loans, according to a report.

A high official of China's central bank called for more financial cooperation with members of the Association of Southeast Asian Nations.

The Industrial and Commercial Bank of China has committed to lend US$18.7 billion to Chinese firms that wish to expand their presence overseas.

The People's Bank of China unveiled a financial reform plan for the 2011-2015 period.

Fitch Ratings says a weaker operating environment in Asia Pacific may lead to rating pressure on banks in China and India.

The New York branch of the Bank of China will become a clearing settlement bank and collateral custodian of CME Group, subject to regulatory approval.

China's second largest bank expects to complete an M&A this year and will accelerate its foreign expansion in succeeding years.

The China Chain Store and Franchise Association urged the government to cut bank card-swipe fees charged to merchants.

China UnionPay cards will now be accepted in by all automatic teller machines and point-of-sales machines owned by Nepal's Himalayan Bank.

China Construction Bank, the world's second largest by market value, will soon open a subsidiary and a branch in the Grand Duchy of Luxembourg.

Dangerously high levels of corporate debt and a continuing economic deceleration make it imperative that China implement urgent financial sector reforms.

Chinese businessmen continue to avoid taking out medium- and long-term bank loans over short-term worries about China's rapidly decelerating economy.

But they have to lend out around CNY380-500b of new loans in each of the remaining 4 months.

Sales of asset-backed securities in China suspended three years ago have been re-launched to help banks stiffen the country’s sagging banking sector.

ICBC Beijing Branch has included the Thai baht and Philippine peso in its foreign exchange currency services.