China's chief banking regulator called for the US to grant two Chinese lenders banking licenses in an interview with the Financial Times. CBRC chairman Liu Mingkang hinted at a connection between greater access for foreign investors in China to China Merchants Bank and Industrial and Commercial Bank of China receiving banking licenses in the US. […]
Category: Banking & Finance
Sino-Ocean Land Holdings, the property company, raised US$1.5 billion in an initial public offering ahead of a Hong Kong listing scheduled for Friday, the Wall Street Journal reported. Sino-Ocean, set up by state-owned China Ocean Shipping (Group) Co and Sinochem Corp, sold 1.55 billion shares, or 36.6% of its enlarged issued share capital, at US$0.99 […]
China is preparing a pilot program that will allow foreign investment banks to buy stakes in local securities firms by the end of the year, the Financial Times reported. The program would allow a small number of firms to buy up to 20% in existing Chinese brokerages. Foreign investment banks would also be allowed to […]
A report released by China Construction Bank (CCB) found that risk exposure in the country's private mortgage market has increased, Shanghai Securities News reported (in Chinese). Payments on private home loans have increased as the central bank has raised the loan interest rate, with its last rate hike pushing commercial banks' private mortgage business into […]
Bank of Beijing (BOB) saw its share price rise 81% as it made its trading debut on the Shanghai Stock Exchange on Wednesday, the Wall Street Journal reported. BOB, China's largest city commercial bank, earlier generated US$2 billion from the sale of 1.3 billion new A-shares. The gains came on a comparatively slow day for […]