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| Wednesday, October 08, 2008 00:36:28 |
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May 20,2007
2007 is turning into a benchmark year for Industrial Bank of China (CIB), a Fuzhou-headquartered joint venture between the Fujian provincial government and Hong Kong’s Hang Seng Bank. In an exclusive interview with China Business News, bank chairman Li Renjie said that now the bank had gone public through an offering in Shanghai, overseas strategic investors were key to the banks development strategy.
May 14,2007
Today’s news through a Chinese media lens
May 11,2007
Head auditor calls for tougher SOE audits NDRC to continue drug pricing cuts Central bank urges attention on energy financing May 08,2007
In an exclusive interview with China Economics Weekly, the chairman of the National Council for the Social Security Fund (SSF), Xiang Huaicheng, laid out the fund’s investment priorities for the coming year. Domestic stock exchanges are in line for a windfall.
April 27,2007
Central bank warns yuan appreciation risks CAAC to tackle late flights Love21cn.com received US$40 million investment
April 24,2007
Four foreign banks began offering yuan services in mainland China yesterday, and expect to win customers from their domestic rivals with stronger service offerings.
April 24,2007
As foreign-funded banks formally kick off yuan business in China, combining quality services and no queues, foreign and domestic senior banking executives agree that home-grown banks have a long way to go if they hope to compete. But as the China Securities Journal reports, they are starting to take the necessary steps.
April 20,2007
Central bank to regulate virtual currency,Macro conditions make controls difficult Regulator tells Beijing banks to tackle queues April 19,2007
China targets asset bubbles: Deutsche Bank, Analysts predict rate hike Textiles exports fall in March April 18,2007
Part of the Qualified Domestic Institutional Investor (QDII) scheme to allow firms to invest overseas, Bank of China announced it had raised US$100 million to be invested in overseas mutual funds.
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Founded in 1912 straight after the 1911 Revolution, Bank of China is the second largest bank in China. It now has its global presence through its network of over 560 overseas offices in 25 countries and regions. In Hong Kong and Macao, Bank of China is one of the local note issuing banks. Commercial banking includes corporate banking, retail banking and banking with financial institutions composes the major business areas. In 2005, the annual interest income increased 30 percent to 167.35 billion yuan. Net interest income after LLP increased 46 percent to 89.42 billion yuan. Net earnings increased 31% to 27.49 billion yuan. In 2006, Bank of China has listed in both Hong Kong and Shanghai, which becomes the largest domestic IPO in China.
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