China Economic ReviewNew York's Nasdaq Stock Market is preparing to open its first Chinese office in Shanghai, Shanghai Morning Post said. The office is intended to help Chinese venture capital seekers by making it convenient for Chinese high-technology companies go public in the US market.
JP Morgan Chase has been granted two licences by the People's Bank of China to expand its operations in the country. Each licence cost the bank US$12m. The first licence will enable the US bank to offer foreign exchange services to local corporations throughout the country from its Shanghai branch. The bank said it would […]
HSBC Holdings has won approval to start internet banking services in China by the end of this year, Bloomberg reported. The services would allow the bank's customers to transfer funds to local and overseas banks. HSBC has nine branches in China, the largest network of any overseas bank in the country.
China's fight against illegal cross-border money flows has been ineffective because it does not have a single department in charge of the collection and analysis of intelligence, Foreign Exchange quoted the deputy director of the State Administration of Foreign Exchange (Safec) as saying. Ma Delun added that China had nothing similar to regulations issued by […]
Beijing Yanjing Brewery, China's second largest brewer, announced that it planned to issue Yn700m of bonds to raise funds for business development and acquisition, South China Morning Post said. The issue is being underwritten by Citic Securities, a unit of China's largest trust company, China International Trust and Investment Corp. The five-year bonds would be […]