Bank of China (Hong Kong) is expected to defer the New York portion of its planned initial public offering, the Financial Times reported bankers in Hong Kong as saying. Instead, the bank will proceed with an estimated US$2bn offering in Hong Kong as early as the third quarter of this year. The sources said that […]
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The formal launching ceremony was held at Bank of the end of March for a new unified national payment system that will allow bank card holders to use their cards at any terminal in any city, China Daily said. The system will be run by a new company called China Union- Pay, whose logo will […]
The Shanghai and Guangzhou branches of Hang Seng Bank of Hong Kong have received licences to offer foreign currency services to mainland residents and companies. Its Shanghai branch will also be allowed to offer yuan services to foreign companies and individuals, South China Morning Post reported. HSBC Holdings has won approval to offer foreign currency […]
Citibank has opened a subbranch in Shanghai aimed solely at offering foreign currency services to Chinese retail clients, South China Morning Post said. Initially focusing on taking foreign currency deposits (of a minimum US$5,000), the bank plans to move gradually into foreign currency lending and credit card services. The branch is housed in the Peace […]