China’s Ministry of Finance is planning to increase its holding in Bank of Communications (BoCom) when the bank issues new shares in order to replenish its capital base.
A source close to the ministry said that following regulatory approval for the new share issue, the Ministry of Finance would buy a stake [...]
On Monday, Bank of China ordered its subsidiary branches to enforce an “overall hike” in interest rates on new loans provided to property developers.
The China Banking Regulatory Commission last week called for greater supervision of the property market, and at a meeting on Monday Bank of China’s leaders told their credit managers that “in principle” [...]
HSBC has denied reports that it is considering a bid for a majority stake in one of China’s big three listed banks.
Michael Geoghegan, CEO of HSBC, said the bank is happy with its stake in Bank of Communications (BoCom), China’s fifth largest lender, as its primary investment vehicle in the country.
HSBC owns just under 20% [...]
HSBC may buy a majority stake in one of China’s big three lenders to increase its presence in the mainland, according to unnamed sources quoted in a British Sunday newspaper.
HSBC, Europe’s biggest bank, is understood to be looking to buy shares in either ICBC, Bank of China or China Construction Bank, [...]
Airlines are using funds from Chinese financial services firms in increasing numbers to purchase aircraft, driving Airbus deliveries to near-record levels this year, according to Airbus SAS head of aircraft finance.
“Chinese financial institutions have done a solid job of financing airlines in China; now they’re expanding rapidly beyond Chinese borders and that should continue,” Airbus [...]
The government of Greece is hoping to convince China to buy US$35.2 billion in government bonds to fund its public debt.
Goldman Sachs has reportedly been working to encourage China’s State Administration of Foreign Exchange (SAFE) to buy the bonds, but the paper cited sources close to SAFE as saying it was [...]
Bank of China announced on Friday that it plans to raise new capital through share and bond issues.
The lender will seek shareholder approval to sell new shares that amount to no more than 20% of its existing Hong Kong and Shanghai-listed shares. The total sum could be almost $30 billion.
Bank of [...]
Beijing has ordered commercial banks to stop lending until the end of January.
The China Securities Journal cited unidentified banking industry sources in both Beijing and Shanghai as saying that new loans amounting to more than US$146 billion have already been issued in 2010. The newspaper quoted an unnamed Bank of China official who said that [...]
The Shanghai Composite Index fell 3.5% to 3,223.526 points yesterday amid fears that more stringent capital adequacy requirements for banks would prompt lenders to sell shares.
It was the steepest drop for the market in nearly three months.
BNP Paribas estimated the requirements outlined by the China Banking Regulatory Commission mean China’s 11 largest banks will have [...]
China will market renminbi-denominated sovereign bonds to foreign investors for the first time this month.
The Ministry of Finance said it would introduce RMB6 billion (US$879 million) worth of bonds in Hong Kong on September 28 in order to boost the international status of the renminbi and help Chinese companies raise funds in the offshore bond [...]
