Guo Shuqing, chairman of China Construction Bank (CCB), accused US regulators of prejudice against mainland companies for thwarting the expansion of CCB in America, the South China Morning Post reported. Speaking on the sidelines of the Communist Party Congress on Wednesday, Guo said that the US government's negative attitude towards Chinese banks was "abnormal and […]
Category: Banking & Finance
A total of 3.7 million new trading accounts on the Shanghai Stock Exchange were opened in September, 1 million fewer than the 4.71 million opened in August, state media reported. The main change was a drop in the number of new mutual funds from 2.82 million to 1.68 million, according to a report by the […]
China's banking regulator confirmed on Tuesday that Citic Group has made a bid for a stake in US financial firm Bear Stearns, the Wall Street Journal reported. Under Citic's proposed, deal the two companies would exchange shares and launch a joint venture to exploit the two companies' respective access to the Chinese and American markets. […]
The Shenzhen Stock Exchange has demanded that brokerages release information pertaining to any start-up firms that are looking to go public before it launches its new growth board, state media reported. The exchange also asked for suggestions about how it could make the new board successful and effective. The new fundraising platform comes after Chinese […]
Giant Interactive Group, led by famous businessman Shi Yuzhu, will become the first Chinese IT company listed on the New York Stock Exchange, Xinhua reported (in Chinese). The company plans to issue 54.39 million shares, accounting for 20% of its total capital, according to a statement it released, although it did not disclose the IPO's expected […]