China
Mastercard and Alipay enable real-time remittance in over 180 markets
Mastercard and Alipay enable real-time remittance in over 180 markets
Alipay’s 1 billion users in China can now transfer and pay with over 150 currencies.
Citi appoints Lin Hai as head of China commercial bank business
Lin was most recently head of corporate sales & solutions for China and HK.
Investor demand for China’s wealth management product still muted
Balance may grow in 2024, according to Fitch Ratings.
Ant Group raises transaction limits in China for foreign users
Ten partner wallets can now enjoy the increased limits.
China raises annual mobile payment limit of foreign visitors to $50,000
The single transaction limit has also been raised to $5,000.
Loan rate cut weighs on Chinese banks’ interest margins, profits
China Construction Bank, ICBC, and CITIC Bank will be most negatively affected.
Ant Group outbids Citadel for Credit Suisse’s China investment bank venture: report
But this faces a “thorough review” because China favors a foreign buyers, sources said.
Weekly Global News Wrap: HSBC gets approval to sell Russia unit; Chinese banks approve $17b property loans
And China cuts 25 basis points to five-year loan prime rate (LPR).
DBS China secures license to underwrite debt of non-financial companies
Non-financial firms can now work with DBS to enter the world’s second largest bond market.
China’s new bank loans hit record high in January: report
Officials are also rolling out more measures to support the economy.
Citi names Luke Lu as head of banking in China
He will oversee all of Citi’s business and operations in China.
Alipay+ unveils campaigns, promos for Chinese New Year
These include special voucher bundles of up to 90% off.
MUFG China clinches lead underwriting license for corporate panda bonds
It will be able to support clients to participate in bond issuance by offshore companies.
OCBC appoints ex-SMBC bankers as new China corporate banking head
Seth Tan brings over 27 years of experience into the role.
China’s big four banks saw market value growth in Q4
But capital ratios and loan-to-deposit ratios declined during the year.
Zhongzhi bankruptcy amplify contagion risks of non-bank wealth management products: analyst
Shadow bank Zhongzhi filed for bankruptcy in January 2024.
Expect ‘stagnant’ Chinese structure finance market in 2024: S&P
Issuance momentum of dominant segments will reportedly remain slow.
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Inside Longbridge Securities (Singapore)’s win at the Asian Banking & Finance Fintech Awards 2026
Gavin Chia on how AI is making institutional-grade investing more accessible to everyday investors.
Commentary
Why Asia’s private wealth industry requires a new era of governance
APAC has mastered domestic payments. The next challenge is connecting them.
Why fragmented communications are becoming a hidden governance risk for Asia Pacific banks
From automation to agency: Asia’s wealth leaders can reinvent, not just streamline
Singapore aced its FATF evaluation — now comes the hard part
Are Asia’s digital banks prepared for the stablecoin era?
Why APAC is building home-currency stablecoins
Why Southeast Asian wealth managers must design the business before buying the technology
Why trust in Asian banking increasingly gets built off the record
Hong Kong cleared stablecoins for take-off. Getting them to work across Asia is the hard part