China

Nearly all mid-sized and commercial banks have tied up with the three tech titans.

Agricultural Bank posted the largest earnings growth so far.

Asset growth picked up at a faster pace on an MoM basis.

The village banks failed to generate significant contribution to their parent bank's bottomline.

Foreign stakes were previously capped by up to 25%.

The SAR already faces medium-high money laundering risk.

Regulators may scrap the 20% reserve requirement.

Project approvals have more than doubled from $2b in March 2017 to $5.3b in July.

Profits of the country’s top five banks are expected to rise around 4.7% to 7%.

It crashed from a peak of $9.16t.

Against very clear headwinds due to the trade war and decelerating investment, China's State Council has unveiled plans to take a more aggressive fiscal policy in 2018 with a reduction of corporate and household burden by RMB 1.1 trillion. In the whole year, tax reduction will amount to RMB 800 billion for enterprises and individuals, which is equivalent to 5.5% of total tax revenue in 2017. This includes the adjustment in value added tax, the reduction in corporate tax rate of manufacturing, transportation, and other industries, and the rebate from research and development expense. Another RMB 300 billion will come from reducing non-tax burden on costs in logistics and utilities. The total amount is roughly equivalent to the reduction in corporate burden from the US tax reform of $150 billion (RMB 1 trillion).

It has tapped on Swiss provider Avaloq.

She has been with Citi for nearly two decades.

The central bank has been encouraging lenders to step up lending.

However, bad loans also rose from $26.56b to $284.64b in Q2.

She was previously the Beijing branch manager and head of Corporate Banking Coverage of North China at Deustche Bank.