China Economic ReviewThe China Securities Regulatory Commission has proposed tightening requirements for large mergers and acquisitions, the Wall Street Journal reported. The proposed rules would require two-thirds, instead of the current minimum of half, of shareholders with voting rights to approve deals by listed companies. The regulator also proposed that in private placements, companies that inject assets […]
China Construction Bank’s listing on the Shanghai Stock Exchange raised US$7.72 billion, setting a new A-share initial public offering record, AP reported. It sold 9 billion shares at RMB6.45 (US$0.86) each, the top end of its indicative price range. CCB is China's second-largest bank by assets and is already listed in Hong Kong. Its IPO […]
China Bank of Communications, the Industrial and Commercial Bank of China (ICBC), Minsheng Bank and China Merchants Bank (CMB) are all applying to set up aircraft leasing companies, Beijing News reported (in Chinese). Lenders have been interested in the leasing business since administrative rules on financial leasing, which allow Chinese banks to hold stakes in leasing companies, took […]
People's Bank of China vice governor Wu Xiaoling warned commercial banks against expanding loans at the first Asia-Pacific Economic and Financial Forum in Beijing on Saturday, Shanghai Securities News reported (in Chinese). Wu added that complying with the central bank's guidance in curbing loan growth was part of commercial lenders' "social responsibility." New loans have […]
Interdealer broker ICAP and a unit of China's central bank launched a money-broking joint venture, the Wall Street Journal reported. The joint venture, called CFETS-ICAP International Money Broking, is the second broker of its kind in China. It will address interbank market issues like poor liquidity, low credit and a shortage of hedging instruments. The […]