Bank Of Communications @ The China Perspective

Mix operations: a new trend in finance sector

November 17,2006

By AMY CHEUNG

In the past month, the banking and finance regulatory commission lifted barriers to enable banks to engage in stock funds and insurance businesses while insurance firms can directly invest in the stock market and acquire stakes in banks. This unveils the key changes in a fully opened finance sector. Financial institutions on the Mainland can have a more diverse mix of operations in securities, banking and insurance.

GE and Wal-mart to issue credit card in China

October 24,2006

By STAFF EDITOR

The consumer finance arm of General Electric Co. and retail giant Wal-Mart Stores Inc. launched a credit card in China this week, Reuters reported.

Golden Week saw record growth in personal banking services

October 09,2006

By AMY CHEUNG

Shanghai’s Golden Week featured intensive promotional campaigns by domestic banks offering discounts and gift for purchases using credit or bank cards. How does fierce competition in consumer banking impact the market?

Insurance assets strengthen role in capital market

October 09,2006

By AMY CHEUNG

Rapid growth in insurance industry increases diversity of the Mainland’s capital market. Insurance firms registered total capitalization of 1048.3 billion yuan (131 million US dollars) in August 2006 said China Insurance Regulatory Commission. How strong are insurance assets going to get in China’s capital market?

Credit Agricole to set up fund venture in China

September 21,2006

By AMY CHEUNG

Credit Agricole Asset Management, a unit of France's second-largest bank, will set up a 200 million yuan (25.2 million US dollars) fund management venture with Agricultural Bank of China and Aluminum Corp. of China, Bloomberg reported.

Wal-mart partners with Bank of Communications to issue credit cards

September 18,2006

By AMY CHEUNG

Wal-Mart launched its first credit card in China over the weekend, co-branded with Bank of Communications, the Wall Street Journal reported.

HSBC strives to cultivate unlimited investment opportunities in China

August 30,2006

By AMY CHEUNG

HSBC plans rapid expansion in the Mainland by establishing an extensive national network and cultivating strategic partnerships, China Business News reported.

Banking sector faces competition in opening-up

August 09,2006

By AMY CHEUNG

The entrance of foreign players to the Mainland banking sector accelerated internal reform and fostered fierce competition, Sohu New reported.

China approves another 3.5 billion capital outflows

August 02,2006

By AMY CHEUNG

China has authorized two banks to invest 3.5 billion US dollars of their clients' money overseas, bringing total approvals so far under a scheme to promote capital outflows to 8.3 billion US dollars, Reuters reported.

HSBC Mainland first half profit up 74%

August 01,2006

By AMY CHEUNG

HSBC Holdings reported its profit in the mainland increased 74 percent in the first half, driven mainly by growth in its part-owned Bank of Communications and Ping An Group, The Standard reported.

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Founded in 1908, Bank of Communications is one of the oldest bank and earliest bank notes issuers in China. With a national network of 92 branches and 2413 sub-branches, it is a commercial bank has three principle lines of business as corporate banking, retail banking and treasury operations. It is 19.9 percent-owned by global lender HSBC. In the first quarter of 2006, Bank of Communications total interest income increased 26 percent to 14.34 billion yuan. Net interest income after LLP increased 19 percent to 8.79 billion yuan. Net income increased 43 percent to 2.9 billion yuan.

Today’s Daily Briefs E-Mail

	Mix operations: a new trend in finance sector November 17,2006 By AMY CHEUNG In the past month, the banking and finance regulatory commission lifted barriers to enable banks to engage in stock funds and insurance businesses while insurance firms can directly invest in the stock market and acquire stakes in banks. This unveils the key changes in a fully opened finance sector. Financial institutions on the Mainland can have a more diverse mix of operations in securities, banking and insurance. GE and Wal-mart to issue credit card in China October 24,2006 By STAFF EDITOR The consumer finance arm of General Electric Co. and retail giant Wal-Mart Stores Inc. launched a credit card in China this week, Reuters reported. Golden Week saw record growth in personal banking services October 09,2006 By AMY CHEUNG Shanghai’s Golden Week featured intensive promotional campaigns by domestic banks offering discounts and gift for purchases using credit or bank cards. How does fierce competition in consumer banking impact the market? Insurance assets strengthen role in capital market October 09,2006 By AMY CHEUNG Rapid growth in insurance industry increases diversity of the Mainland’s capital market. Insurance firms registered total capitalization of 1048.3 billion yuan (131 million US dollars) in August 2006 said China Insurance Regulatory Commission. How strong are insurance assets going to get in China’s capital market? Credit Agricole to set up fund venture in China September 21,2006 By AMY CHEUNG Credit Agricole Asset Management, a unit of France's second-largest bank, will set up a 200 million yuan (25.2 million US dollars) fund management venture with Agricultural Bank of China and Aluminum Corp. of China, Bloomberg reported. Wal-mart partners with Bank of Communications to issue credit cards September 18,2006 By AMY CHEUNG Wal-Mart launched its first credit card in China over the weekend, co-branded with Bank of Communications, the Wall Street Journal reported. HSBC strives to cultivate unlimited investment opportunities in China August 30,2006 By AMY CHEUNG HSBC plans rapid expansion in the Mainland by establishing an extensive national network and cultivating strategic partnerships, China Business News reported. Banking sector faces competition in opening-up August 09,2006 By AMY CHEUNG The entrance of foreign players to the Mainland banking sector accelerated internal reform and fostered fierce competition, Sohu New reported. China approves another 3.5 billion capital outflows August 02,2006 By AMY CHEUNG China has authorized two banks to invest 3.5 billion US dollars of their clients' money overseas, bringing total approvals so far under a scheme to promote capital outflows to 8.3 billion US dollars, Reuters reported. HSBC Mainland first half profit up 74% August 01,2006 By AMY CHEUNG HSBC Holdings reported its profit in the mainland increased 74 percent in the first half, driven mainly by growth in its part-owned Bank of Communications and Ping An Group, The Standard reported. 1 2 3 4 5	Founded in 1908, Bank of Communications is one of the oldest bank and earliest bank notes issuers in China. With a national network of 92 branches and 2413 sub-branches, it is a commercial bank has three principle lines of business as corporate banking, retail banking and treasury operations. It is 19.9 percent-owned by global lender HSBC. In the first quarter of 2006, Bank of Communications total interest income increased 26 percent to 14.34 billion yuan. Net interest income after LLP increased 19 percent to 8.79 billion yuan. Net income increased 43 percent to 2.9 billion yuan. Today’s Daily Briefs E-Mail Sign up for a roundup of the day’s top stories, sent every day. MOST POPULAR XEMC Windpower inks US$46m deal with Datang Power Generation Haima to build 2 150,000-vehicle plants Paper makers team up on eco-friendly plant Construction set to begin in Guangzhou on world’s largest wholesale base Foreign acquisitions in China worth US$17.6b through August VC funds target IT and healthcare sectors in August 70%+ Chinese software developers not competitive: IDC Chongqing to boost VC fund by US$146m over 3 years Shanghai Industrial Holdings to spin-off non-core business Blackstone, VXL Capital set up mainland property management firm Go to Complete List >

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