Banking
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- By David Cao
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A sub-branch of Citibank in Beijing has closed its doors, according to bank sources on Thursday.
The sub-branch in Wangjing residential area in northeastern Beijing was closed, "out of consideration of Citibank's development plan and as a result of its network adjustment and improvement," said an unnamed manager with the group.
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China's central bank said on 29th Sep 2014 the Chinese currency - CNY - can be traded directly against the euro in the interbank foreign exchange market, in the latest step to facilitate investment and bilateral trade between China and the European Union.
The move, which starts on Monday, will help to lower foreign exchange conversion costs while promoting the usage of both the Yuan (CNY) and euro in bilateral trade and investment, the People's Bank of China (PBOC) said in a statement on its website.
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Chunning, a senior official of a Chinese state-owned insurance corporation, is under investigation, the country's anti-corruption watchdog announced on Sunday.
Read more: Senior China insurance official under investigation
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Chen YI, the Actual controller of Shanghai Fanxin Insurance Agency Co. LTD., and her male partner were caught by Fiji Police for cheating on 18th of August (2 days after they reached Fiji).
Read more: Shanghai Insurer Female CEO and Her Partner Caught in Fiji 2013
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Liquidity is sufficient but debt risk control needs to be addressed。
China's chief banking regulator Shang Fulin soothed a jittery market on Saturday, saying there is more than "sufficient" liquidity in the interbank market. He also pledged to strengthen debt risk control.
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