A US$3.8bn bridge project linking the mainland, Hong Kong and the ports in the Pearl River Delta region, has been approved, according to state media. Private interests will be allowed to invest in the project, the China Daily reported, citing Hong Kong's transport secretary. Currently, the mainland, Hong Kong and the Pearl River Delta region […]
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China Merchants Bank says it has selected a foreign partner for its fund management joint venture, according to the bank president, who declined to name the company. Last month, the central government said commercial banks could launch fund management companies.
China may limit executive pay to 14 times that of the average salary of a company's employees at state-owned enterprises, state media reported. Amid recent corporate scandals and concerns about the country's widening income gap, Beijing is mulling the rule which would apply to more than 170 state-run companies, including China National Petroleum and China […]
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Brokers enter fund arena
Shanghai Securities News reported that securities regulators had cleared two brokers to enter the fund management business. One is GF Securities, the other Everbright, which is slated to lunch its first fund this week. The move comes as officials try to breathe new life into moribund stock markets and China's faltering brokerage industry.
China Banking Regulatory Commission Chairman Liu Mingkang said only 30 banks, representing roughly half China's total bank assets, meet standard 8% capital adequacy ratio requirements. At that, some figures had been inflated by sales of subordinated bonds – totaling RMB112.2bn over the past year – raising questions about their long-term ability to maintain capital adequacy […]