China banking system News

Hong Kong has issued online-only banking licenses to three groups, including joint ventures (JVs) of Standard Chartered and BOC Hong Kong, in what could be the biggest shake-up in years in the city’s retail banking sector dominated by old-guard lenders. …

China’s Premier Wen Jiabao said the nation’s government debt is at an “overall safe and controllable” level, that funding for key projects would be ensured and that applying the brakes to the problem would be done in a way to …