Shanghai banks lose US$405m last year to stock markets

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Saturday, August 30, 2008 05:58:39

	Shanghai banks lose US$405m last year to stock markets By STAFF EDITOR Published: January 10, 2008 12:00 PM RMB savings at Chinese banks in Shanghai declined US$404.85 million (RMB2.94 billion) last year as people shifted savings to China’s booming stock markets, the Oriental Morning Post reported, citing figures from the central bank’s Shanghai head office. Savings grew US$14.67 billion (RMB106.52 billion) ... You are currently reading 48 words of 148 total words in this article. To continue reading this article, you must be a subscriber. Log in now. Buy this article now for $10 USD. Not a subscriber? Start your 7-day free trial now. bookmark \| digg \| Permalink \| Tell a Friend Tags for this article: Central Bank , stock market , foreign exchange , interest rate	More Articles in Stock Markets > Today’s Daily Briefs E-Mail Sign up for a roundup of the day’s top stories, sent every day. RELATED ARTICLES > Shanghai stocks sees record daily gain Automaker approved to securitize car loans Citic Securities’ 1H profit down 5.65% to US$96m Mainland firms raise US$7b in 56 Q2 IPOs P&G to offer offshore stock options to mainland staff Financial regulators must stop operating in silos Overheating fears drive stock tumble

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