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Hang Seng Bank Ltd expects that wealth management and yuan-denominated trade settlement services in will continue to drive its business in China, after reporting strong earnings for 2010.
Home buyers in some parts of China are starting to face increasing mortgage requirements as Chinese state-owned commercial banks are setting higher requirements as part of the new moves to tighten real estate credit.
China's central bank drained 80 billion yuan ($12.3 billion) from the money markets through 28-day bond repurchase agreements on Tuesday, traders said.
e Chinese currency renminbi, or the yuan, Wednesday gained two basis points from the previous trading day to hit a record new high of 6.4948 per US dollar.
China's new bank lending, an important indicator of the monetary policy, stood at 739.6 billion yuan ($113.8 billion) in April, shranking 20.8 billion yuan from a year earlier, said the People's Bank of China on Wednesday.
Chinese underwriters are losing out to international banks in a record year for issuance of yuan-denominated bonds in Hong Kong. That's as companies seek arrangers that are able to attract the most global investors.
China's stock index futures closed higher Tuesday with the contract for May, the most actively traded, up 0.77 percent from the previous close to 3,149.4.
China and the United States could step up cooperation on financial reform and regulation, Zhou Xiaochuan, governor of the People's Bank of China (PBOC), said on Monday.
Chinese shares rose for the second consecutive day Tuesday, led by strong power and material firms.
China will continue to press the United States during the third round of the China-US Strategic and Economic Dialogue to keep the dollar stable in order to ensure the safety of Beijing's dollar assets, analysts said on Monday.
China's banking regulator said Monday that it would step up supervision over loans granted by different institutions and strengthen prevention against risks in the shadow banking system since credit risks are "still severe."
TPG Capital, the buyout company that manages $48 billion, is seeking a chairman for its Asian operations to help it compete for investments in China, said three people with knowledge of the matter.
