Credit card payment rises 70 pct in 2009

2010-05-26 21:41:37

China's credit card transactions totaled 3.5 trillion yuan (512.45 billion U.S. dollars) in 2009, up 69.9 percent from a year earlier, said a report from the China Banking Association (CBA) Wednesday.

ABC clears hearing in run-up to IPO

2010-05-26 10:45:51

Agricultural Bank of China (ABC) cleared a preliminary hearing with the Chinese securities regulator in the run-up to its planned $30 billion IPO in China and Hong Kong, local media reported on Wednesday.

CCB sees 17% increase in green-credit business loans in 2009

2010-05-26 10:00:08

China Construction Bank (CCB), one of the country's four leading State-owned lenders, saw a sharp increase in its green-credit business in 2009 with outstanding loans totaling 181.1 billion yuan ($26.6 billion).

CPI moderate rise in Q2 triggers no rate hike

2010-05-25 13:49:40

A Bank of China report predicted China's Consumer Price Index (CPI) would rise about 3.7 percent in the second quarter while GDP growth may hit 10.5 percent.

ABC may sell up to 53b shares in IPO

2010-05-25 11:03:39

Agricultural Bank of China is set to issue up to 53 billion A and H shares, including greenshoe, in its $30 billion IPO in Hong Kong and Shanghai, a local Chinese newspaper reported on Monday citing market sources.

Bank of China's $5.9b bond sale gets approval

2010-05-25 09:46:37

Bank of China Ltd, the nation's third-largest lender by market value, received approval from the securities regulator to sell as much as 40 billion yuan ($5.9 billion) of bonds convertible into stock. Plans to raise funds should stay, says Lee

China unlikely to raise interest rates in near term, Citic says

2010-05-24 14:57:42

China is unlikely to raise interest rates in the "near term" as inflation slows with recent declines in food and commodity prices, according to Citic Securities Co analysts led by Yu Jun in a report.

China vetting Morgan Stanley sale of CICC stake

2010-05-24 12:50:46

China's securities regulator has started to review Morgan Stanley's application to sell its roughly $1 billion stake in Chinese investment bank China International Capital Corp, media reported on Monday.

ABC, Sinofert to boost co-op in agro-related business

2010-05-22 11:41:50

The Agricultural Bank of China (ABC), the country's largest rural lender, and Sinofert Holdings Ltd signed a strategic cooperation agreement Friday to boost collaboration in agro-related businesses.

Hang Seng Bank buys Shanghai premises for 510m yuan

2010-05-21 13:48:25

Hang Seng Bank (China), a subsidiary of Hang Seng Bank, has agreed to purchase about 7,000 square meters of office and retail space, together with naming and signage rights for the building, in Shanghai's financial district for 510 million yuan ($74.67 million), the Hong Kong-based bank said.

China pension fund invests $2.2b in ABC

2010-05-21 11:41:25

An official with China's pension fund said that the fund had invested 15 billion yuan ($2.20 billion) into the Agricultural Bank of China, ahead of the bank's $30 billion IPO.

China to vet BOC bond sale on Monday

2010-05-21 11:14:42

Bank of China Ltd's application to sell convertible bonds will be reviewed by China's securities regulator on May 24.