China Economic ReviewThe Shanghai Futures Exchange announced new regulations for trading of fuel oil contracts. New regulations require a minimum margin deposit of 8% of the total contact value. The deposit can be increased to a maximum of 40% depending on the length of time the contract is held. The exchange also sets daily price fluctuation limits, […]
Bank of China (Hong Kong) has advised its 13,000 employees it would measure staff performance instead of tenure in awarding pay and promotions from now on, according to the South China Morning Post. The report quoted one bank source saying it was possible for a recently hired MBA to earn less than a long-service driver. […]
China Construction Bank (CCB) has applied to the State Council for permission to launch China's first residential mortgage-backed securitization program, according to the South China Morning Post. It said the bank plans to build an asset pool from its mortgage portfolios in several mainland cities, but the size of the pool is not publicly known. […]
An ownership dispute has stalled H-share listed Sichuan Expressway's planned RMB 777 million (US$105.66 million) toll-road acquisition, the South China Morning Post reported. A plan to list the asset on the A-share market has also been put on hold. Oriental Harvest Infrastructure (China) claims 60% ownership of the Sichuan Changle link. Sichuan Highway said last […]
The Bank of China is in talks to sell an equity stake to a foreign bank. The mainland bank is in discussion with JP Morgan Chase, Citicorp, Deutsche Bank and UBS. The China Banking Regulatory Commission allows overseas investors to hold up to 25% of mainland banks, with no single overseas party allowed to hold […]