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ANZ’s UDC Finance Acquired by China’s Conglomerate HNA Group for $628M

Jan 11, 2017 04:23 AM EST

ANZ Bank has sold its New Zealand asset finance business UDC Finance to Chinese conglomerate HNA Group for $NZ660 million ($628 million). This is ANZ's second sale out in almost single week as the banking giant looks to streamline its global business.

China launches new yuan-denominated gold benchmark on Tuesday, with aim to control pricing and establish stronger influence on the global market.

China Launches Yuan-Denominated Gold Benchmark

Charissa Echavez |

Apr 19, 2016 11:30 AM EDT

China, the world's top gold consumer, launched a yuan-denominated gold benchmark on Tuesday as it attempts to gain more control over its price and establish stronger influence on the international market.

China received support from local and international banks over yuan gold benchmark.

China's State-Owned Banks, ANZ, Standard Chartered to Join Yuan Gold Benchmark

Charissa Echavez |

Apr 14, 2016 03:38 PM EDT

Top Chinese banks as well as Standard Chartered and ANZ will join the latest yuan-dominated gold benchmark, representing China’s biggest step towards becoming metal’s price setter.