 |
|
|
 |
|
China Citic Bank Corp plans to raise as much as 30 billion yuan in a debt offering in Hong Kong, becoming the latest domestic financial institution to boost the city's nascent offshore yuan market.
Zurich Financial does not plan to cut its 15 percent equity stake in China's third-largest life insurer, Reuters reported, citing the Swiss insurer's chief executive.
Bank of America (BOA) announced Monday to sell roughly 13.1 billion common shares of China Construction Bank Corporation (CCB) to generate approximately $8.3 billion.
Banking stocks in China's A-share market declined on Monday, following media reports that the central bank will further tighten liquidity by requiring lenders to include margin deposits in their required reserves.
Hong Kong stocks closed up 282.23 points, or 1.44 percent, at 19,865.11 on Monday.
China's stocks declined Monday dampened by market speculations of further tightening move by banks to curb lending and fight inflation.
A government official said on Monday that debts incurred by local governments are different from those found in the debt-laden United States and the European Union (EU).
The People's Bank of China (PBOC) has issued a notice announcing plans to include margin deposit in the reserve requirement. The margin deposit includes acceptances, letters of credit and letters of guarantee.
China will steadily increase the issuance of urban construction investment bonds but will limit total local government debts at 100 percent of their revenues, Reuters reported, citing the National Development and Reform Commission.
Multinationals that trade with China and need to hedge their yuan exposure will be a good source of business for Standard Chartered PLC, a senior executive at the bank's Hong Kong unit said Friday.
Federal Reserve Chairman Ben S. Bernanke's decision to extend next month's policy meeting to two days stoked speculation the extra time may allow him to forge a stronger consensus on monetary easing.
In early 2009, when Carlyle Group LP's China team proposed that the private-equity firm invest in a Chinese infant-formula producer, the initial response was disbelief.
