BEIJING—A surge in lending that defied Beijing’s efforts to mop up liquidity presents China’s new leaders with the tough prospect of risking a budding growth revival by cracking down too hard to head off a bad-loan crisis. China has been on a credit binge since the global financial crisis of 2008, initially a deliberate strategy by leaders to finance investment …
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(Reuters) – Rosneft is seeking to borrow up to $30 billion from China in exchange for possibly doubling oil supplies, making Beijing the largest consumer of Russian oil and further diverting supplies away from Europe. Four industry sources familiar with the situation told Reuters that Rosneft was in talks with Chinese state firm CNPC about the borrowing, which would echo a $25 …
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(Reuters) – China is planning to extend renminbi loans to other major emerging BRIC countries, in another step toward the expansion of the yuan’s role in foreign exchange, the Financial Times reported on Wednesday. The China Development Bank (CDB) will sign a memorandum of understanding at a meeting with its BRICs counterparts – Russia, South Africa, Brazil and India – in New Delhi on …
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The Asian Development Bank estimates donor countries will probably need to provide as much as $13 billion from 2013 to 2016 to finance loans and grants to projects in poor countries. Negotiations with donors for about $12 billion to $13 billion of funds is ongoing and may last until May this year, Kazu Sakai, director general of the strategy and …
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BEIJING, Feb. 19 (Xinhua) — China’s commercial banks saw their combined net profit expand to 1.04 trillion yuan (165.1 billion U.S. dollars) in 2011, according to latest official data. It was a marked increase from 763.7 billion yuan in 2010, statistics from the China Banking Regulatory Commission (CBRC) show. The lenders’ non-performing loan ratio stood at 1 percent as of …
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