The People’s Bank of China (PBOC) said it would auction up to US$2.6 billion in three-month bills on Thursday, Reuters reported. The central bank said it would also sell US$875 million worth of six-month bills. The central bank auctioned US$1.46 billion worth of bills last week, but suspended sales of six-month bills, reportedly over concerns […]
Category: Banking & Finance
World Union Real Estate Consultancy won regulatory approval on Monday for an initial public offering on the Shenzhen Stock Exchange, in what analysts said was probably the first example of a real estate consultancy and brokerage being allowed to float A-shares, state media reported. World Union, which also provides consulting and brokerage services, plans to […]
China Development Bank (CDB) is in the running to buy Dresdner Bank, Germany’s third-largest lender by assets, Bloomberg reported, citing people familiar with the matter. The Chinese policy bank, which funds public works projects but is looking to become a fully-fledged commercial operator, is said to have conducted due diligence on Frankfurt-based Dresdner. Commerzbank AG […]
Small- and medium-sized insurers will be allowed to invest in infrastructure projects by buying up debts, the South China Morning Post reported. The China Insurance Regulatory Commission (CIRC) made the announcement at a meeting in Ningxia last week, industry sources told the paper. As it stands, only four large insurers – Ping An, China Pacific, […]
Chinese banks will be allowed to increase their lending by 5% this year, a move likely to most benefit small businesses, the Wall Street Journal reported. The new rules coincide with a statement by Chinese leaders that they will focus on sustaining economic growth. China’s economy expanded by 10.4% in the first half of the […]