Banks to see slower asset growth this year

    THE country’s banks will see slower asset growth this year as regulators curb risk in the financial industry, said the chairman of China Zheshang Bank Co., one of the fastest-growing listed Chinese lenders.

    Shen Renkang estimated asset growth for China’s 21 national banks will be less than 10 percent this year, compared to an industry-wide 15.8 percent expansion last year.

    Banks were feeling the impact of the government’s campaign to reduce financial risk, which included reducing the opportunity for regulatory arbitrate and bolstering oversight of bank assets.

    China OKs dozens of Trump trademarks

    CHINA has granted preliminary approval for 38 trademarks linked to Donald Trump, documents on China’s State trademark office show, giving the U.S. President and his family protection were they to develop the “Trump” brand in the market.

    The trademarks — which in theory cover a wide sweep of businesses from hotels to mobile libraries and escorts — underline the complexities and potential concerns over conflicts of interest facing President Trump, who has a sprawling business empire using the Trump name around the world.

    Central Government SOE profits up 29.1 percent

    PROFITS of Chinese enterprises controlled by the Central Government rose 29.1 percent from a year earlier at 168.59 billion yuan (US$24.36 billion) in the first two months of 2017, the State asset regulator said in a document issued ahead of a press conference in Beijing on Thursday.

    The regulator said the firms under its administration also made progress streamlining their management structures in 2016, cutting management costs and labor costs by 4.9 billion and 7.6 billion yuan, respectively.

    February vehicle sales rise 8.9%

    PASSENGER vehicle sales in China to retail customers rose 8.9 percent in February from a year earlier, the China Passenger Car Association (CPCA) said Thursday.

    Retail sales totaled 1.5 million vehicles in February, according to data posted on the CPCA website. For the first two months of the year, passenger car sales fell 2.9 percent compared to the same period a year ago.