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The US-based life insurer MetLife Inc is considering a multiple listing to fuel its expansion globally after acquiring American International Group Inc's international life insurance unit American Life Insurance Co (Alico), the company's president of international business said on Tuesday.
China's rich prefer domestic banks for wealth management even as their overseas assets expand, according to a report released by China Merchants Bank (CMB) and Bain & Company on Wednesday.
Chinese shares closed mixed Wednesday with the benchmark Shanghai Composite Index up 8 points, or 0.27 percent, to 3,007.04.
There is still room to raise the amount of money that banks must hold to curb excessive liquidity, as taming inflation has become the No 1 priority of monetary policies, Hu Xiaolian, deputy governor of the People's Bank of China (PBOC), said in an article released on Tuesday.
Chinese legislators are discussing a draft amendment to tax law, which aims to offer tax relief for low-income households.
Dagong Global, a major Chinese credit rating agency, assessed the credit rating of China's banking industry as "stable" in its seventh banking credit rating report released Tuesday.
China will continue to soak up excess liquidity as the country tries to keep full-year inflation down to 4 percent in 2011, said Hu Xiaolian, deputy governor of China's central bank in a speech published on Tuesday.
Trading resumed Tuesday for shares of China's largest meat processor after a 34-day suspension due to a scandal involving illegal additives.
Chinese shares fell Tuesday with the benchmark Shanghai Composite Index down 58.29 points, or 1.91 percent, to 2,999.04.
The People's Bank of China (PBOC) will designate a Chinese bank in Singapore to undertake the clearing of Renminbi trade, Singapore's Senior Minister Goh Chok Tong has said.
French bank Societe Generale plans to strengthen its capacity in the commodities-hedging business in China in order to tap the country's growing appetite for natural resources, the bank's top executive told China Daily.
Wells Fargo & Co said it will apply for a license to conduct yuan business in China, as it sees great business opportunity in the booming yuan-denominated trade.
