Kenichi Mizuno, one of the three parliamentary secretaries of the Japanese Foreign Ministry, resigned his post after the minister Yoriko Kawaguchi ordered him not to make a visit to Taiwan, the Financial Times said. Mizuno said he had planned to tell the Taiwanese that the island was "an important partner" for Japan, but his minister […]
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Banker jailed for taking bribes
Duan Xiaoxing, former head of the staterun Huaxia Bank, has received a sevenyear jail sentence for taking bribes worth Yn75,000 in return for illegally approving loans totalling Yn150m, said Caijing magazine. The authorities also confiscated personal assets worth Yn80,000 from Duan. Bank officials said that the arrest of Duan occurred after he had stepped down […]
Only 10 per cent of Chinese bank customers are satisfied with the service they get, according to a survey conducted by the National Statistics Bureau. A separate survey among bank customers in the Asia-Pacific region conducted by the Australian market research firm Easton and Partners found that corporate clients were most satisfied with Standard Chartered […]
China Development Bank announced that it had signed a pact with Bank of Tokyo- Mitsubishi to enhance business co-operation. The two banks will co-operate in areas such as client sharing, project financing, fund raising and personnel training. The Japanese bank said that the tie-up would help it expand its business in China. China Development Bank […]
US-based private equity fund Newbridge Capital will buy a 15 per cent stake in Shenzhen Development Bank, Xinhua reported. Newbridge will buy the shares from state-owned shareholders for Yn1.5bn. As the largest shareholder, Newbridge will appoint the bank's chairman and it has already sent staff to work in the bank.