China Development Bank to Issue Green Bonds to Fund Environmental Projects in Hubei Province

China Development Bank (CDB), a state-owned policy bank, said Tuesday [5 September 2017] that it will issue green bonds to raise funds for water resource protection along the Yangtze River Economic Belt. The bank said it will issue no more than 5 billion yuan (about 763.2 million U.S. dollars) in three-year green bonds next Tuesday,

China’s UnionPay Signs MoU with the Largest Bank in Belarus

Belarusbank, the largest bank in Belarus, signed a memorandum of understanding with China’s UnionPay International (UPI) on financial service cooperation, the press service of the bank said on Friday [25 August 2017]…Full Article: China Daily Aug 2017 Key Point The MoU focuses on integrating UnionPay with Belarusbank ATMs and other retail/service companies that work with

World Bank to Lend USD 100 Million for Heavy Metal Pollution Reduction Program in Hunan Province

The World Bank is to lend 100 million U.S. dollars to a program to reduce heavy metal pollution in China’s largest rice-producing province. “This project is the first of its kind supported by the World Bank in China, and will be innovative in addressing heavy metal pollution in agricultural lands,” said Cao Wendao, the bank’s

Spain’s Second Largest Bank to Use Alibaba’s Alipay Payment Services

Chinese tourists will be able to use Alipay mobile wallet in Spain thanks to an agreement signed between Spanish bank BBVA and China’s Ant Financial Services Group, BBVA reported on Wednesday [28 June 2017]…Full Article: China Daily June 2017 Key Point Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second-largest bank, is the first Spanish financial company

China’s UnionPay Cards Now Accepted by BPS-Sberbank

BPS-Sberbank has become the second commercial bank in Belarus to accept China’s UnionPay cards, according to Shanghai-based UnionPay International Wednesday [12 April 2017]. According to the agreement, BPS-Sberbank will accept and issue UnionPay cards within the year and the two parties will also cooperate on launching mobile payment services in Belarus…Full Article: ECNS.cn Apr 2017

Agriculture-related Loans Topped CNY 28 Trillion at the End of 2016

Chinese banks strengthened financial support for agriculture, small-and-micro enterprises and affordable housing projects last year. Outstanding agriculture-related loans stood at 28.2 trillion yuan (about 4.1 trillion U.S. dollars) at the end of 2016, up 7.1 percent year on year, according to a statement posted on the website of the China Banking Regulatory Commission. Outstanding loans

Australian Grocery Chain Woolworths to Accept China UnionPay Cards at its Supermarkets

The Australian grocery giant Woolworths said on Tuesday [7 February 2017] that it will now accept UnionPay cards at its stores; China’s leading debit and credit cards. Woolworths will offer all forms of UnionPay payment, including the contactless mobile based transactions at its terminals…Full Article: China Daily Feb 2017 Key Points According to China UnionPay