Zhu Liangtao

5 days ago | caixinglobal.com | Ding Feng |Zhu Liangtao |Qing Na

Explore the story in 3 minutesThe Chinese yuan’s ranking as a global payment currency dropped to sixth place in May 2025, its lowest position in four years and the second month in a row of decline, according to the monthly SWIFT tracker. The currency’s share of global payments fell to 2.89%—a nearly two-year low—from 3.5% in April. The total value of yuan payments also saw a sharp 23% month-on-month decrease.

3 weeks ago | caixinglobal.com | Zhu Liangtao |Ding Feng |Denise Jia

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x Citigroup is to slash 3,500 technology jobs in China, a sweeping move that has drawn renewed attention to the retreat of foreign financial institutions from the world’s second-largest economy. In a statement released Thursday, the American investment bank said it would streamline its global technology solutions centers in Shanghai and Dalian, cutting staff before the fourth quarter of 2025.

1 month ago | caixinglobal.com | Zhu Liangtao |Denise Jia

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x Authorities in Shanghai and Hangzhou have launched separate probes into Shanyuhai into the suspected illegal collection of public deposits. According to an official notice from the West Lake District’s special task force, both cities have taken criminal enforcement actions against company personnel, and local stations have begun registering complaints from investors.

2 months ago | caixinglobal.com | Wu Xiaomeng |Zhu Liangtao |Fan Qianchan |Qing Na

Explore the story in 3 minutesChinese banks are increasingly optimistic about their international ventures, as their overseas operations show significant growth in profits compared to domestic struggles. The Industrial and Commercial Bank of China (ICBC) reported a 19% rise in pretax profits from its overseas institutions last year, reaching $4.4 billion as total assets expanded by 4% to over $430 billion [para. 2].

2 months ago | caixinglobal.com | Wu Xiaomeng |Zhu Liangtao |Fan Qianchan |Qing Na

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x Chinese banks have reasons to be optimistic about venturing abroad. Industrial and Commercial Bank of China Ltd. (ICBC), the world’s largest commercial lender by assets, reported that the pretax profit for its overseas institutions rose 19% to $4.4 billion last year, according to Zhang Weiwu, a senior executive vice president.