Visa to block some UnionPay services
2010-06-04 08:18:41
Visa International, a unit of Visa Inc, the world's largest credit and debit card processor, has asked its global financial member institutions to stop international transactions through the State-owned China UnionPay system from Aug 1.
China must develop financial derivatives, Xie says
2010-06-03 16:19:45
China must develop financial derivatives to help banks hedge risks, Xie Duo, head of the financial markets department at the People's Bank of China, said.
ABC may list in HK on July 16
2010-06-03 15:46:00
The Agricultural Bank of China (ABC) plans to list on the Hong Kong stock market on July 16, the China Business News reported.
Sinochem HK unit said to pay 113 basis points for loan
2010-06-03 13:58:56
The Hong Kong unit of Sinochem Corp, China's biggest chemicals trader, will pay 113 basis points more than the London interbank offered rate for a $700 million loan, according to a person with direct knowledge of the transaction.
Visa to block China UnionPay int'l transactions
2010-06-03 11:19:08
Visa International has asked its global financial member institutions to stop international transactions through the China UnionPay system from Aug 1 amid intensifying competition in the sector, the official China Securities Journal reported on Thursday.
PBOC sells 3-month bills at yield of 1.53%, traders say
2010-06-03 11:08:41
The People's Bank of China sold three-month bills at a yield of 1.53 percent, a third increase in consecutive sales, according to China Citic Bank Co and Agricultural Bank of China.
PBOC considers movables as collateral for loans
2010-06-03 10:59:09
The People's Bank of China wants to remove legal obstacles for using movable assets as collateral for loans, which would increase lending security for banks and help obtain loans for medium- and small- businesses.
Banks' risk in debts of local govt finance under control
2010-06-02 11:51:24
The risk entailed in local government finance platforms' debts is still under control, according to commercial banks' primary review on such investment agencies, Shanghai Securities News reported.
China banks say local debt risk 'controllable'
2010-06-02 11:15:50
Chinese local government's debt risk is "controllable," according to an investigation by some commercial banks, Shanghai Securities News reported today.
UnionPay to build up network overseas
2010-06-02 11:17:30
China UnionPay Co is expanding its overseas network rapidly to tap the rising number of Chinese traveling overseas.
ABC likely to issue 51.4b shares in IPO
2010-06-02 08:45:14
The Agricultural Bank of China (ABC) is likely to issue up to 51.4 billion shares in its much-awaited initial public offering (IPO), accounting for 16 percent of its total capitalization, a source close to the bank said on Tuesday. ABC heads for world's largest IPO
Huaxia Bank gets board approval for $3b placement
2010-06-01 17:45:58
Huaxia Bank Co, which is partly owned by Deutsche Bank AG, got board approval to raise up to 20.8 billion yuan ($3.04 billion) through private placement, the lender said in a statement Monday, Caing.com reported.