Mainland banks have been actively seeking listings in Hong Kong as a greeting to an open banking sector in China. How does this change the outlook of China’s banking sector and Hong Kong? Hong Kong’s Bauhinia Magazine reported.

China Construction Bank said it has applied to banking and insurance regulators to create a joint-venture insurance company, The Wall Street Journal reported.

China Construction Bank inked an agreement with Bank of America (BOA) to acquire 100 percent of equity interest of Bank of America (Asia) limited, the wholly-owned subsidiary of BOA in Hong Kong, Bloomberg reported.

China Construction Bank (CCB), one of China's big four state lenders, had almost zero net lending in July, falling sharply from industry-leading lending levels in May, Forbes reported, citing the China Business News reported.

China Construction Bank (CCB), China's third-largest lender, is interested in acquiring Bank of America (Asia) after failing to buy out Asia Commercial Bank in February, The Standard reported.

China will merge 10 commercial banks based in Jiangsu Province along the mainland's east coast to form a new bank, the China Daily reported, citing Xinhua.

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.

China UnionPay not only faces increased competition from global giants Visa and Mastercard but also from public criticism about market monopoly, Nanfang Daily reported.  

The president of China Construction Bank Corp., Chang Zhenming, will move to China's state-owned Citic Group, China Daily reported, citing the bank’s statement.

HSBC has launched customdian services for Mainland commercial banks that are eligible to provide overseas welath management servcies undre the Qualified Institutional Investor (QDII) scheme, Forbes reported.