China Economic ReviewZhou Xiaochun, chairman of the China Securities Regulatory Commission (CSRC), is to take over the job of governor of the People's Bank of China. The former governor, Dai Xianglong, is stepping down to become mayor of Tianjin, according to South China Morning Post. The newspaper also said that Gao Xiqing had been removed from his […]
Domestic companies raised Yn64bn from share sales in the first 11 months of 2002, according to the China Securities Regulatory Commission. This amount was 10 per cent less than in the same period of 2001. Revenue from share transactions sank 62 per cent to Yn10.5bn. The decline was a result of a drop in share […]
Jiang Jianqing, president of Industrial and Commercial Bank of China (ICBC), China's biggest commercial bank, told Caijing magazine that between June 1999 and the end of 2002, his bank had reduced its ratio of non-performing loans by 22 percentage points to 25.7 per cent or Yn700bn of its Yn2,900bn outstanding loans portfolio. The bank aimed […]
An official of Beijing City Commercial Bank has confirmed that it is actively pursuing talks with the International Finance Corporation and HSBC about their taking stakes in it, South China Morning Post said. The IFC, the World Bank's financing arm, tentatively signed up to take a 5-8 per cent stake in the bank while HSBC […]
The People's Bank of China has issued a new Yn5 banknote and a new 5 jiao coin on November 18. They are part of the fifth series of notes and coins to be issued since the People's Republic was established in 1949. The Yn5 note, which is purple in colour, carries a picture of Mount […]