ING Group is planning to acquire a stake in a mainland bank, according to the firm's chairman Michel Tilmant. ING officials said that the firm was considering all options seriously but declined to comment on reports that ING was in talks with Beijing City Commercial Bank. ING recently announced that it received regulatory approval to […]
Category: Banking & Finance
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VP Huang Ju meets bankers
Vice Premier Huang Ju told visiting bank excutives that China is increasing reforms in the financial sector and has complied with its WTO commitments. In remarks to Wachovia Corporation CEO Kennedy Thompson, he explained how the Bank of China is undergoing restructuring to implement stricter management and safer transactions, provide sufficient capital reserves and offer […]
Natural gas market expert David Victor recently spoke to <i>China Economic Review</i> about the fuel’s future in China. Excerpts:
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The real Old Shanghai
The myth of old Shanghai is constantly referenced in the Shanghai of today for commercial purposes, but amidst the art deco fonts and the faded fake posters, the "real" old Shanghai got lost somehow.
Deutsche Bank said it plans to spend US$1 billion in the next three to five years on non-performing loans and other distressed assets on the mainland. Deutsche and Morgan Stanley both won separate bids to buy NPLs with a face value of US$1.2 billion in June. The deal was struck at an asset recovery rate […]