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China Eastern Airlines' 1st roadside VIP lounge. [Photo/ceair.com]
China Merchants Bank said in its 2018 fiscal report that its personal banking segment's turnover has grew more than 16 percent year-on-year to 123.26 billion yuan (.34 billion) last year, contributing nearly 53 percent of the bank's total annual income.
China announced at the start of this year that it would cut the reserve requirement ratio, or the amount of cash banks must keep in reserve, to free up about 800 billion yuan (5 billion) for funds to potentially boost infrastructure and other sectors and help stabilize the economy.
China International Capital Corporation expected that about 150 firms will be listed on the new board this year, raising 50 billion yuan (.46 billion) to 100 billion yuan.
China CITIC Bank has joined hands, Fang added, with Baidu to establish the online Baixin Bank, in which China CITIC Bank will hold a 70 percent stake and Baidu will have a 30 percent share. Baixin Bank is expected to open at the end of the year.
