CDB Defies Regulators, Keeps New Barclays Stake
Snubbing rejection by the Chinese government, China Development Bank (CDB) has completed its new acquisition of shares in Barclays Bank, investing STP136 million to ensure its original stake of 3.1% in the UK bank would not be diluted. The move was greatly surprising, and revealed unsuspected gumption in the formerly state-owned bank's decision-making process.
Imprudent Loans Coming Back to Haunt Chinese Banks in Slowdown
While the shareholding reform for Chinese banks, launched in 2003, has been seen as successful, China's banking industry has not yet been tested by a complete economic cycle. In the present economic slowing, China's financial supervisory authorities are worrying about a rebound of the bad old day's bad loan ratio on the banks' books.
China Aims to Ease Small and Medium Enterprises' Credit Woes
While the policy makers in Beijing are still debating about whether to control inflation or to maintain the employment rate, they have at least reached consensus on one matter: since small and medium private enterprises have contributed 70% of China's new employment, these enterprises should enjoy favorable credit policies.
Chinese Firms, Banks May Get Bitten Big by CMS
In what must rank as a classic, a textbook example of a lack of proper risk management, an unknown number of Chinese companies and banks have exposed themselves to the risks of a financial instrument new to China, and trouble is already on the loose. The total exposure could be as high as 300 billion yuan. The Chinese banking regulator has sent out an alert but refuses to give details on where the risk lies.
A New Chair of CICC May Handle Morgan Stanley's Exit
Li Jiange, vice director of the Development and Research Center of the State Council, and former vice chairman of the China Securities Regulatory Commission (CSRC), will be appointed as chairman of the China International Capital Corporation (CICC). It is rumored that he might help Levin Zhu Yunlai, CEO of CICC with their separation from Morgan Stanley.
Government Moves To Legitimize Underground Lending in Zhejiang
In Zhejiang Province, with the most developed private companies and private capital in China, the government is trying to legitimize private capital, and set up small-sum loan companies to connect private capital with capital-hungry private companies.
CDB Ups Its Stake in Barclays
China Development Bank (CDB) has announced it will increase its investment in Barclays, the UK's fourth biggest bank. Although no detailed plan was revealed, an announcement by Barclays said the increase would be to the tune of £136 million.
China Life Eyes City and Regional Commercial Banks
China Life Insurance Company is on the lookout for appropriate commercial banks for its investment, expecting to expand its business into other financial fields. It is reported by China Business News that China Life intends to participate in the third share expansion of the Bank of Ningxia.
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