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Top related persons:
“ - 1 Matt Britzman - 1 Hargreaves Lansdown - 1 Mark Tucker - 1 — Hanna Ziady - 1 Hong Kong CNN — Wang Bin - 1 Wang - 1 Wang Bin - 1
Top related locs:
China Hong Kong Asia France BoCom Mainland China Jinan China’s
Top related orgs:
China’s Bank of Communications - 2 Hong Kong CNN — HSBC - 1 HSBC - 1 HSBC isn’t - 1 Chartered - 1 Hong Kong CNN - 1 China Life Insurance - 1 China Taiping Insurance - 1

Search resuls for: "China’s Bank of Communications"


2 mentions found


☆ HSBC 2023 results: $3 billion China writedown hits annual profit
  + stars: | 2024-02-21 | by ( Juliana Liu | ) edition.cnn.com   time to read: +3 min
Of the total, $3 billion was related to BoCom, one of China’s biggest banks, while $2 billion was from selling its retail banking business in France. Separately, HSBC made $3.4 billion in provisions to cover expected credit losses and other charges related to its exposure to the commercial real estate sector in mainland China. The property market has since entered a prolonged slump, marked by an ongoing decline in real estate investment and sales of property. The charges reported by HSBC cast a shadow over its record annual profit, which came in at $30.3 billion, up 78% from 2022. In October, rival Standard Chartered reported a $186 million credit impairment charge related to commercial real estate in the country.
Persons: “, Matt Britzman, Hargreaves Lansdown, Mark Tucker, — Hanna Ziady Organizations: Hong Kong CNN — HSBC, China’s Bank of Communications, HSBC, HSBC isn’t, Chartered Locations: China, Hong Kong, Asia, France, BoCom, Mainland China
☆ Wang Bin: Chinese insurance boss sentenced to life in jail for corruption
  + stars: | 2023-09-13 | by ( Laura He | ) edition.cnn.com   time to read: +2 min
Hong Kong CNN —Wang Bin, the former chairman of one of China’s biggest life insurers, will spend the rest of his life in jail after a court found him guilty of corruption. Wang was accused of taking the bribes between 1997 and 2021, when he headed a number of state-owned financial institutions, including China Life Insurance, China’s Bank of Communications and China Taiping Insurance. “The amount of bribes Wang Bin accepted was particularly huge, the circumstances of the crime were particularly serious and the social impact was particularly bad,” the ruling said. He is the latest top executive to become ensnared in President Xi Jinping’s anti-corruption crackdown on the country’s $56 trillion financial sector. The sentence came more than a year after Wang, who was also the top Communist Party official at China Life, was investigated by the party’s top anti-graft agency.
Persons: Hong Kong CNN — Wang Bin, Wang, Wang Bin, Xi Jinping’s, Li Xiaopeng, Liu Liange, Bao Fan, Xi Organizations: Hong Kong CNN, China Life Insurance, China’s Bank of Communications, China Taiping Insurance, Communist Party, China, China Everbright, Bank of China Locations: China, Hong Kong, Jinan, China’s, Shandong, United States
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