Bank of China - updates

Rappler's latest stories on Bank of China


Malaysia, Vietnam show PH can stand up to China

Jul 23, 2019 - 5:41 PM

'When claimants stand up for themselves and refuse to be intimidated, Beijing most often backs down rather than uses force,' says Gregory Poling of the Asia Maritime Transparency Initiative

WEST PHILIPPINE SEA. A Philippine Coast Guard ship (R) sails past a Chinese Coast Guard ship during a joint search and rescue exercise between Philippine and US coast guards near Scarborough Shoal. Photo by Ted Aljibe/AFP

Lacson: Duterte's statement on Recto Bank incident 'left us heartbroken'

Jun 18, 2019 - 11:11 AM

(3rd UPDATE) 'He forgot to explore all resources available before exercising his last option of surrender,' Senator Panfilo Lacson says of President Rodrigo Duterte's first-ever statement on the Philippine boat sinking in the West Philippine Sea

HOME. The fishermen of F/B Gem-Ver are reunited with their families upon their arrival at the Caminawit Pier in San Jose Mindoro on June 14, 2019. Photo by LeAnne Jazul/Rappler

Lorenzana doubts if PH boat sinking was intentional

Jun 18, 2019 - 12:48 AM

'Nabangga nga talaga pero was it intentional or not, mayroon nang doubt ngayon eh kung intentional o hindi,' says Defense Secretary Delfin Lorenzana

DOUBTS. Defense Secretary Delfin Lorenzana says he doubts if the Chinese sinking of a Philippine boat was intentional. File photo by Angie de Silva/Rappler

Loan default? DOF says Reed Bank gas can be sold to raise funds

Mar 27, 2019 - 9:10 PM

Finance Undersecretary Bayani Agabin says that in the 'unlikely' event of a loan default, China cannot claim Reed Bank. Instead, the Philippines can sell gas and use the cash to pay Beijing.

Philippines has no say in loan deals with China – Panelo

Mar 25, 2019 - 2:50 PM

The Duterte administration has no choice but to abide by China's terms since it is only the borrower while China is the lender, says Malacañang

Chinese President Xi Jinping (L) and Philippines' President Rodrigo Duterte (R) during an exchange of agreements at the Malacanang Presidential Palace in Manila on November 20, 2018. - Chinese President Xi Jinping called his visit on November 20 to long-time US ally the Philippines a "milestone", as he aimed to boost blossoming ties on the promise of billions of dollars in backing for mega-projects. Photo by Mark Cristino/Pool/AFP

Xi's lifetime rule may mean continued hardline stance in West PH Sea – analyst

Mar 11, 2018 - 11:55 PM

Aaron Jed Rabena says China could be considered 'compliant' with the 2016 arbitral tribunal ruling if there were peace and stability in the West Philippine Sea

HARDLINE STANCE. Analyst Aaron Jed Rabena expects China to maintain a hardline stance in the West Philippine Sea as Chinese President Xi Jinping moves towards lifetime rule.

Sereno won’t resign, Malacañang on joint exploration, Duterte on UN rapporteurs | Evening wRap

Mar 02, 2018 - 8:03 PM

Watch the evening newscast with Jee Geronimo

PH, Bank of China seal deal for $200-M 'Panda bond' offering

Nov 17, 2017 - 4:57 PM

The Philippine government will be the issuer while the Bank of China will be the lead underwriter in a 1.2 billion RMB offering aimed at Chinese investors

Strong export demand to lift Asian economies – ADB

Jul 20, 2017 - 1:31 PM

Surging global demand for Asian exports and low oil prices will help China and the region s developing economies grow faster than expected this year and next

LOADING CARGO. In this file photo, a worker (C) monitors as containers are lifted onto a trailer at Keppel port terminal in Singapore on January 18, 2016. Roslan Rahman/AFP

China opens up $10-trillion bond market in liberalization step

Jul 03, 2017 - 12:40 PM

UPDATED The new conduit comes via Hong Kong where qualified investors will be able to buy debt in China – the world s third largest bond market after the United States and Japan

This picture taken on June 17, 2015 shows the Hong Kong skyline during sunset. Philippe Lopez/AFP

No merger? Henry Sy firm among top shareholders of RCBC

May 23, 2017 - 12:15 AM

A privately held company of the Sy family owner of China Bank and BDO Unibank has been buying shares of RCBC a Yuchengco led bank

Duterte foreign policy, Anti-Distracted Driving Act, Mike Pence | Evening wRap

May 22, 2017 - 10:53 PM

Watch the evening newscast with Acor Arceo

Senators to Duterte: Why tolerate China's war threat?

May 22, 2017 - 2:35 PM

Senator Paolo Benigno Aquino IV asks why the Philippines is rejecting the European Union s supposed interference but allowing China to make threats

WAR THREAT. President Rodrigo Duterte revealed parts of his meeting with Chinese President Xi Jingping, saying the latter threatened to use force if the Philippines goes ahead with its exploration in Reed Bank. File photo by Malacañang

Duterte's pivot: Are we ready for China's imminent debt crisis?

Oct 22, 2016 - 4:14 PM

Before we embark on ever deeper ties with China it’s imperative that our leaders – starting with the President himself – have a good idea of who we’re dealing with and what exactly we’re signing up for

China flag from Wikimedia Commons

ISIS on Brussels blasts, AMLC, PH vs China | 12PM wRap

Mar 23, 2016 - 12:43 PM

Watch Rappler’s 12PM newscast with Chay Hofileña

China forex reserves fall almost $100B in January

Feb 07, 2016 - 8:42 PM

The world’s largest currency hoard shrank by 99 5 billion in January to some 3 2 trillion

Ex-Plantersbank workers seek better terms from China Bank Savings

Jan 29, 2016 - 4:28 PM

The labor department is currently overseeing negotiations between the employees and China Bank Savings Inc which is merging with Plantersbank

JOB SECURITY. Members of the Planters Development Bank Employees Association (PDBEA) stage a protest on January 28. All photos from PDBEA

Philippines and China: Rivals at sea, allies in trade?

Jan 09, 2016 - 2:36 PM

Dindo Manhit of the Albert del Rosario Institute tells Rappler: This opportunity of joining the AIIB tells China and the whole world that the Philippines is open to be friends with China

COMPLEX TIES. Chinese President Xi Jinping (L) aims to build China's financial clout while expanding its control of the South China Sea. Philippine President Benigno Aquino (R) seeks to balance trade and security ties with Beijing. File AFP photo

Rappler Talk: Will PH and China improve ties in 2016?

Jan 08, 2016 - 12:55 PM

The Philippines tense relationship with China appeared to thaw in late 2015

Sell-off in Asia as China stock markets closed

Jan 07, 2016 - 10:12 AM

UPDATED The losses mark one of the worst starts to a trading year for decades as investors nerves are shattered by a perfect storm of weak global growth a slump in oil prices and geopolitical tensions

Chinese investors look at a screen showing stock movements at a stock brokerage house in Beijing, China, January 5, 2016. How Hwee Young/EPA

AIIB formally established – Chinese gov't

Dec 25, 2015 - 8:37 PM

The Asian Infrastructure Investment Bank will be operational once its board of directors and executive council meet for the first time

Image from AIIB website

China rate cut lifts most Asia stocks but concerns remain

Oct 26, 2015 - 6:05 PM

High risk currencies receded against the dollar with the South Korean won shed 0 80 Indonesia s rupiah eased 0 28 and the Malaysian ringgit was 0 32 lower

ASIA STOCKS.High-risk currencies receded against the dollar including the rupiah. Photo by EPA

Over 20 countries on 'waiting list' to join AIIB

Sep 19, 2015 - 9:06 PM

The bank will be based in Beijing and will have a capital of 100 billion with 20 billion paid initially

File photo by  EPA/HOW HWEE YOUNG

When the ghosts start haunting us

Aug 31, 2015 - 4:30 PM

There is no correlation between the ghost month and the rise or fall of the stock market It was the meltdown of China triggering the massive sell offs

BLOODY RED. August 24, 2015 was bloody. The local equity market had its third largest one-day decline in the past decade

China's yuan devaluation rattles forex market

Aug 12, 2015 - 7:50 AM

China s central bank devalues its yuan currency by nearly 2 against the US dollar as authorities say they are seeking to push market reforms in a one time move

DEVALUED. A teller counts yuan banknotes in a bank in Lianyungang, east China's Jiangsu province on August 11, 2015. AFP photo

Privileges, costs of membership in that other Asian development bank

Jul 16, 2015 - 1:30 PM

The decision to join the AIIB must go beyond factoring in the costs of capital committed or the privilege of loans the country might hope to receive in return

Why PH is not yet joining the China-led infra bank

Jun 29, 2015 - 5:46 PM

The deadline to join is December 2015

TOKYO, Japan - President Benigno S. Aquino III expresses his views during the open forum for the Press Event with the Japan National Press Club (JNPC) at the Conference Hall of the Nippon Press Center Building on Friday (June 05, 2015) during his State Visit in Japan. Photo by Robert Viñas/Malacañang Photo Bureau

China blames politics for Indonesia development bank delay

Nov 27, 2014 - 5:52 PM

Indonesia Japan and South Korea were absent when China and 20 other countries agreed in Beijing last month to found the Asian Infrastructure Investment Bank AIIB expected to have an initial capital of 50 billion

Chinese President Xi Jinping, center, takes photos with guests of the Asian Infrastructure Investment Bank at the Great Hall of the People in Beijing on October 24, 2014. Photo by Takaki Yajima/AFP

Aquino: Venture with Beijing harder to keep than marriage

Oct 10, 2013 - 6:18 PM

The Philippine president on possible joint energy exploration with China: Whose laws will prevail? Whose dispute resolution mechanism will be used?

China vows to keep cash flowing after market jitters

Jun 28, 2013 - 12:07 PM

China s central bank says it would adjust liquidity to ensure stability after a weeks long squeeze that has rattled financial markets

CASH FLOW. The Chinese government says it would address liquidity issues, which rattled financial markets. Photo by AFP

Chinese bank ICBC is now world's biggest

Apr 18, 2013 - 8:13 AM

Chinese bank ICBC knocked US oil giant ExxonMobil from its perch as the world s biggest public company on the Forbes Global 2000 list

ORLD'S BIGGEST. Chinese bank ICBC tops the Fortune Global 2000 list. Photo by AFP

Gov't OKs delay in Recto Bank drilling

Jan 28, 2013 - 9:56 AM

The Department of Energy DOE has approved the request of Forum Energy a company led by businessman Manuel V Pangilinan to push back the drilling and investment schedule up to 2015

YEARENDER: 12 big business stories in 2012

Dec 31, 2012 - 5:51 PM

This list shows how the movers and shakers took advantage of opportunities and navigated the risks how political leaders showed grim determination and how intertwined the players in both business and politics are