Eric Lee, director of residential sales department of Savills Property Services Shanghai talks on Shanghai’s booming residential property market, its performance, development and prospects. Amy Cheung of The China Perspective reports.

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 Merchants Bank has attracted at least 10 Hong Kong blue-chip corporations as strategic investors for its H-share sale and the institutional portion is 25 times oversubscribed with orders totaled 446.7 billion HK dollars (57.27 billion US dollars), The Standard reported, citing market sources.

Shanghai SmartPay Jieyin Ltd., a leader in Chinese consumer payment systems, announced in a statement a nationwide partnership with China Merchants Bank (CMB) today to jointly develop the mobile payment market.

China Merchants Bank is approved by the state regulator to buy overseas financial investment products on behalf of the Chinese customers, Xinhua reported.

China Merchants Bank said net profit may rise by 35 per cent to 5.25 billion yuan this year as a result of a widening profit margin between loan and deposit rates as well as the bank's expanding off-balance-sheet business, People’s Daily reported.

It is highly likely that a substantial portion of the 17 million credit cards that have been issued nationally are not being used. This conclusion is born out by a recent report that Beijing college students were issued four or five cards apiece after registering for just one, and were assessed an annual fee even for non-activated cards....

Coming up on the “golden week” holiday after the National Day celebration on 1 October, some of China’s banks have raised their currency exchange fees for their card-holders, reports Beijing’s Legal Mirror. Visa and MasterCard cards issued by China Construction Bank will have their currency exchange fees raised to 1.5% starting 1 October.