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China Citic Bank said on Friday its 2010 net profit jumped 50.2 percent year-on-year to 21.5 billion yuan ($3.3 billion).
The Chinese currency, or the yuan, on Friday gained 37 basis points from Thursday to a record high of 6.5527 a US dollar.
Bank of China (Hong Kong), in the capacity of the clearing bank for the banking business in the Chinese currency in Hong Kong, said Thursday in a statement that it will launch the Renminbi fiduciary account scheme for participating banks on April 8.
During its last open market operation for March on Thursday, the People's Bank of China (PBOC) took 297 billion yuan ($45.3 billion) of liquidity out from China's banking system, the first monthly net tightening since September 2010.
Chinese shares closed lower Thursday with the benchmark Shanghai Composite Index down 27.66 points, or 0.94 percent, to 2,928.11.
Ping An Insurance (Group) Co, China's second-biggest insurer by market capitalization, said on Wednesday it will not raise capital on the financial markets in the short-term following a rights issue a few weeks ago.
Dollar dominance is sowing the seeds of financial turmoil, and the solution is to promote new reserve currencies, a Chinese government economist said in a paper published on the eve of a Group of 20 meeting about how to reform the global monetary system.
Hainan Tianya Online Network Tech Co Ltd, the operator of Tianya.cn - one of China's best-known online forums - has bought back all of its shares previously owned by Google Inc, as it paves the way for a domestic listing.
China Investment Corp (CIC), the country's $300 billion sovereign wealth fund, will increase its portfolio in the emerging markets this year, and has achieved a good gain from several real estate deals, a senior official said on Wednesday.
Securities regulators of China and Israel on Tuesday signed a memorandum of understanding on supervision cooperation in securities futures, according to a statement Xinhua received from the China Securities Regulatory Commission (CSRC) on Wednesday.
The Chinese currency, or the yuan, on Thursday gained 22 basis points from Wednesday to a record high of 6.5564 per US dollar.
As the forefront of China's financial reform and innovation, Tianjin has evolved into the "heartland of funds". Cui Jindu, Tianjin's vice mayor, said the city's three pillars sre private equity, property investment funds and hedge funds.
