Banking & Finance Services

• China mulls futures trading on State treasury bonds
  May 29, 2005
  An official with the China Securities Regulatory Commission (CSRC) said they were considering to put forward derivatives trading such as share indexes and State treasury bonds gradually on the basis of improving commodity futures transactions.
• China's futures market at 'critical moment'
  May 29, 2005
  Top Chinese securities official said on Saturday that efforts would be made to push forward the development of China's futures market to bring it in line with the country's policy of going all out to advance the capital market.
• China moves to plug forex loophole
  May 29, 2005
  China's foreign exchange regulator tightened rules governing certain types of trade-related forex inflows on Friday, in a fresh move to stem speculative funds from entering the country.
• China firm as US steps up yuan pressure
  May 27, 2005
  China's central bank chief and a trio of top government economists lined up on Friday to urge a cautious approach to economic reforms, defying increasingly urgent U.S. demands for a swift revaluation of the currency.
• China continues to open up its insurance market
  May 24, 2005
  China will continue to open up its insurance market in line with its World Trade Organization (WTO) commitments, a top regulator said yesterday.
• China's foreign exchange regulator relaxes forex rules
  May 24, 2005
  China's foreign exchange regulator has allowed Chinese companies to buy more foreign exchange as they invest in overseas markets.
• Gold output in China is expected to grow
  May 19, 2005
  Gold output in the Chinese mainland is expected to grow by at least 5 per cent this year. Strong demand and bullish prices are expected to lift the market despite a small tumble in the first quarter.
• China's interbank start trading eight currency pairs
  May 18, 2005
  China's interbank foreign exchange market will start trading eight overseas currency pairs today, opening a new platform for the trading of foreign currencies.
• China reforms forex trading system
  May 18, 2005
  China launched a new foreign exchange dealing system on Wednesday that allows domestic trading in currencies other than the yuan, a milestone in the country's effort to reform its tightly controlled currency regime, Reuters reported.
• US raising tensions over China's currency
  May 18, 2005
  The Bush administration has issued a much stronger warning to China over its currency, saying China could be deemed a "manipulative trade partner" if it does not revaluate the yuan soon.
• Bad loans of China's commercial banks drop
  May 17, 2005
  The China Banking Regulatory Commission published on Monday the bad loans of all China's commercial banks, which include for the first time the urban and rural commercial banks, as well as the foreign commercial banks.
• China Aviation unveils debt payment plan
  May 13, 2005
  Embattled China Aviation Oil, China's largest jet fuel supplier, unveiled a new debt restructuring scheme Thursday, saying its state-owned parent company and the Singapore government's investment arm would inject equity to help pay creditors — owed more than half a billion U.S. dollars after risky oil bets.
• No timetable for China to loat currency system
  May 7, 2005
  Chinese Vice Finance Minister Li Yong ruled out Friday that China will adopt a floating currency system in the near future.
• China: Do not expect 40% rise in yuan value
  May 7, 2005
  China said on Friday upward pressure on its rigid yuan currency was not so great and urged speculators betting on an imminent revaluation to be patient.
• Xiamen Airlines gets huge credit from Bank of China
  May 2, 2005
  Bank of China (Hong Kong) Co Ltd has signed an agreement with Xiamen Airlines based in East China's Fujian Province, agreeing to offer credits totaling US$133 million for the airlines to purchase five Boeing 737-700 planes in 2005, said sources with the airlines on Monday.
• World Bank to grant highway loans to Inner Mongolia
  May 2, 2005
  The World Bank has agreed to grant US$100 million in loans to a State highway construction project in North China's Inner Mongolia Autonomous Region, local government sources said on Monday.
• China Construction bank seeks listing on the stock market
  April 29, 2005
  China Construction Bank (CCB) is bracing to get itself listed on the stock market by the end of 2005, said Guo Shuqing, head of the CCB board of directors.
• China limits on foreign bank entry
  China's banking regulator said it would place restrictions on foreign banks entering the local sector to help the country's lenders adjust to full competition.
• Shanghai cautious over setup of new bank
  April 25, 2005
  SHANGHAI: The establishment of an overseas Chinese bank in the financial hub of the country will not become a reality quickly, despite heated discussion about the proposal amongst local supporters
• China announces US$15b bank overhaul plan
  April 22, 2005
  China announced plans today to inject US$15 billion into its biggest state-owned commercial bank as part of efforts to turn it into a profitable, freestanding competitor as Beijing opens its financial markets to foreign rivals.
• Regulator urges more financing for small and medium-sized enterprises (SMEs)
  April 19, 2005
  China's top banking regulator has encouraged commercial banks to provide financing to smaller companies, which have historically faced great difficulties in obtaining bank loans.
• Steady exchange rate reform to continue
  April 19, 2005
  China would continue to keep the yuan exchange rate basically stable around a "reasonable" and "balanced" level, the State Council said, reiterating China's stance on foreign exchange reform.
• China vows to combat money laundering
  April 13, 2005
  China is seeking to become a member of the Financial Action Task Force on Anti-Money Laundering (FATF), a major inter-governmental organization, China's central bank said yesterday.
• Economists support China's currency policy
  April 10, 2005
  China is doing the right thing rejecting requests from trading partners to adjust its currency policy, according to financial officials and economists attending the Beijing Forex Conference 2005 on Friday.
• Bank profits up 21.5% in 1st 9 months
  October 24, 2004
  China Construction Bank, one of the country's Big-four State-owned banks, said on Friday it had earned 49.9 billion yuan (US$6.0 billion) profits during the first nine months of this year before setting aside provisions for bad loans.
• Rumors of yuan appreciation "groundless"
  October 13, 2004
  Rumors of RMB appreciation swirling around the country these days are groundless and nothing but a misunderstanding of China's existing RMB exchange rate policy, said the spokesman of the National Administration of Foreign Exchange Tuesday.
• Gambling on RMB appreciation risky
  October 13, 2004
  It also said the Chinese Government's stance remains unchanged and will gradually improve the mechanism through which the renminbi exchange rate is decided while keeping it fundamentally stable.
• Evolution of renminbi exchange rate regime
  October 11, 2004
  The renminbi exchange rate issue has been at the centre of trade disputes between China and its major trading partners during the past year. It is also a key factor in China's ongoing macro management efforts.
• Bank card spending hit record high
  October 9, 2004
  Chinese bank card holders traveling throughout the country between October 1 and 7, the country's National Day "Golden Week," spent 1.56 billion yuan (about 190 million dollars) in inter-bank card transactions, 2.7 times that of a year earlier.
• China to improve RMB exchange rate system
  September 29, 2004
  Chinese Premier Wen Jiabao said in Beijing Tuesday that China will adopt measures from a number of aspects to improve exchange rate mechanism of Renminbi (RMB), the Chinese currency, in a steady and appropriate manner.
• Broadening forex scope on the cards
  September 22, 2004
  China will speed up the development of its foreign exchange market and improve the mechanism through which the exchange rate of renminbi is determined, the State Administration of Foreign Exchange (SAFE) said yesterday.
• Construction Bank to launch new firm
  September 16, 2004
  China Construction Bank, one of the country's four largest State-owned commercial banks, said yesterday it would set up a joint stock company next week to prepare for an initial public offering.
• Bank stake-transfer deal signed
  Uptated September 9, 2004
  Jinan City Commercial Bank (JNCCB) signed a strategic co-operation agreement yesterday with the Commonwealth Bank of Australia (CBA) to sell an 11 per cent stake to the Australian lender.