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China CITIC Bank , a second-tier Chinese lender, will cut property loans by at least a third in 2011 from last year, a bank executive said on Wednesday.
China's stock index futures closed lower Wednesday with the contract for May, the most actively traded, down 2.6 percent from the previous trading day to 3,129.
The ChiNext Index, launched by the Shenzhen Stock Exchange (SZSE) on June 1, 2010, fell 1.96 percent, or 18.09 points, to 903.99 Wednesday.
Cathay Financial, Taiwan's top financial holding firm, said on Wednesday it is aiming to tap Chinese mainland's asset management market this year.
Chinese shares fell sharply Wednesday with the benchmark Shanghai Composite Index down 66.17 points, or 2.26 percent, to 2,866.02.
The growth of Chinese banks' foreign exchange surpluses from bank-to-client transactions accelerated in March, helping to contribute to China's rapidly expanding foreign exchange reserves.
China's major banks have largely met stringent new regulations concerning capital requirements, and no large-scale capital supplements are needed, an official with China's banking regulator has said.
South Korea's central bank is mulling investments in the yuan-denominated assets in a bid to brace for the internationalization of the Chinese currency in the long term.
The banking regulator's loan-to-deposit ratio requirement is increasingly choking the development of the country's small and medium-sized lenders, who generally have more difficulty attracting deposits than their bigger counterparts.
The yuan pulled back slightly against the dollar on Tuesday from a slew of recent record highs, as the People's Bank of China fixed a marginally weaker mid-point, signaling the central bank may stick to gradualism in reforming the country's currency regime.
Stocks on the Chinese mainland rose, driving the benchmark index to its biggest two-day increase in four weeks on Tuesday.
The highly anticipated initial public offering of Renren Inc, one of China's largest social networks, will be delayed until Wednesday, sources familiar with the deal said on Tuesday.
