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China's central bank will drain 10 billion yuan ($1.5 billion) from the money markets through 91-day bond repurchase agreements and 97 billion yuan through 28-day bond repurchase agreements on Thursday, Reuters reported.
Chief Executive Officer of China Merchants Bank (CMB) Ma Weihua said on Wednesday that CMB will promote its transformation in the next three to five years amid new economic challenges.
Pan-African bank, Ecobank Transnational Inc, will open a China desk next week aimed at easing the flow of Chinese loans for African infrastructure projects, Reuters reported, citing a bank official.
Two Chinese banks that received applications for extending letters of guarantee from two Libyan banks said no "actual loss" has occurred from related business and the potential risks are controllable, and analysts say more banks might become involved if local tensions don't ease soon.
The capital has seen a sharp rise in the number of shoppers who max out on credit cards and refuse to repay, according to new research.
Chinese shares closed higher Wednesday with the benchmark Shanghai Composite Index up 33.95 points, or 1.14 percent, to 3,001.36.
China's economy will maintain "stable" growth of 7 to 8 percent a year, supporting demand for commodities including aluminum and copper, said a senior official at Aluminum Corporation of China.
China's key cities experienced a big fall in property sales last month over the same period in 2010.
The Bank of China (BOC), the country's third largest lender, said that its business suffered no "actual losses" amid the Libyan turmoil and that the risks are controllable.
Beijing is seeking nongovernment capital to contribute 60 percent of the budget and may encourage it to fund the city’s subsidized housing construction, Beijing News reported Saturday.
China is set to maintain an international payment surplus in 2011, the State Administration of Foreign Exchange (SAFE) said on its website on April 1.
China revised its 2010 capital and financial account surplus to $226 billion, significantly bigger than its original estimate of $165.6 billion, the State Administration of Foreign Exchange said on Friday.
