China Construction Bank (SHA: 601939, HKG: 0939), the nation's largest mortgage lender, has suspended loans for a third home to curb property speculation, according to chairman Guo Shuqing. The banks plans to raise ¥75 billion ($1 = ¥6.8) by year end to beef up its capital adequacy ratio which averaged 11.68% for the first six months of 2010.
China Southern Airlines Ltd (NYSE: ZNH, SHA: 600029, HKG: 1055), the nation's biggest carrier, signed a contract with the Hainan government to increase its fleet with ¥10 billion worth of aircraft in the next five years. The fleet size is expected to exceed 50 and operate 93 routes including 26 international routes.
The Shanghai Stock Exchange introduced a string of rules to crack down on insider trading.
BYD Co (HKG: 1211), a Chinese rechargeable battery and electric car maker in which Warrant Buffet has an investment, is planning an initial stock sale on the Shenzhen Stock Exchange, chairman Wang Chuanfu told China Securities Journal Tuesday. The company previously said it was going to raise ¥2.85 million by offering less than 100 million shares in Shenzhen. Its 1H net earnings more than doubled to ¥2.42 billion.
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