China Banks' Foreign Investors: Float and Go
This round of foreign strategic investors reducing their holdings in China's formerly state-owned banks may be far from over. And the China Banking Regulatory Commission is deeply worried about it. At present, the Bank of China (BOC), China Construction Bank, and ICBC have at least 29.9 billion, 13.5 billion, 24.1 billion H-shares, respectively, owned by foreign capital in circulation, excluding those shares which have already been redeemed, the foreign investors are considering their positions, and lock-up periods have expired.
January 11st,2009
Shanghai Lobbies for Financial Center, Liberalized
Shanghai still has dreams of building a financial center to rival those in New York, London, and Hong Kong, even in the teeth of the present economic typhoon, and has submitted a detailed scheme to Beijing that is winding its way with some success through the State Council's approval process.
January 8th,2009
China Life to Manage "Toxic Milk Powder" Medical Fund
After paying lump sum compensation to the families of nearly 300,000 babies confirmed to be melamine victims, 22 companies implicated in the milk powder contamination will jointly form a medical compensation fund with 200 million yuan. China Life Insurance (Group) Company (China Life) has been commissioned to manage and operate the fund.
December 29th,2008
Banks' Lending Reluctance Undermines Stimulus Plan
With the help of foreign shareholders, Chinese commercial banks reinforced risk management after going public. During the present downturn with its already growing risk of NPLs, the government is asking banks to increase loans to prop up firms in difficulty, but meanwhile their boards require management to avoid risk, creating a dilemma.
December 24th,2008
CBRC Nods to Commercial Banks' M&A Lending
A moribund stock market and slowing economic growth have littered the Chinese landscape with distressed assets and troubled companies, offering M&A opportunities by the dozen for consolidation, industrial upgrading and economic restructuring. The China Banking Regulatory Commission (CBRC) has released "Commercial Bank M&A Loan Risk Management Guidelines" (we'll just call them Guidelines), and the floodgate of acquisition loans for the banking industry has finally been opened
December 10th,2008
China to Launch a Deposit Insurance System in 2009
China is set to introduce a bank deposit insurance system next year. The People's Bank of China (PBoC) has now cut the interest rate for savings deposits from 0.72% to 0.36%. Analysts predict it may even be cut to zero after the deposit insurance system is launched.
November 27th,2008
BoA Again Raises Its Stake in China Construction Bank, Amid Selling Concerns
A new investment from Bank of America (BoA) totaling 48 billion yuan (about US$7 billion) will increase its share holding in China Construction Bank (CCB) to 19%. With this investment, BoA's book gain in CCB will rise to US$11.7 billion. But the share holding increase has triggered analysts' concern that BoA may sell CCB shares to relieve its domestic financial pressure
November 18th,2008
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