The new chairman-designate at Industrial & Commercial Bank of China, Yi Huiman, looks set to deepen ICBC's push into digital banking as well as strengthen its “for-profit” focus, in a clear distinction from the “national duty” expected of state-owned banks, say analysts who have followed Yi's career and leadership changes at the world’s largest bank.
There has never been a plan among G20 members to reach a deal similar to the Plaza Accord and such a plan is unrealistic, said Yi Gang, vice governor of China's central bank.
A Chinese Foreign Ministry official on Thursday urged the Vietnamese side to stop any form of disruption of Chinese company's normal oil drilling in waters administered by China.
Entrepreneurs and experts have high hopes for the Chinese government's pledge to give market participants a greater say through cutting intervention, believing this will boost innovative growth.
China is determined to pursue the internationalization of the renminbi on a market-oriented basis, and will closely watch the spillover effects of Japan's ultra-loose monetary policy.
A senior Chinese official has lost his job for "improper life style", state media Xinhua says Thursday.
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