The New York Times reports on a new class of disgruntled protesters in China: white collar workers laid off during recent bank reforms: During the past two years, these unlikely agitators — conservatively attired but fiercely...
Asia Sentinel looks at reforms at the China Development Bank: Approval should come soon for the 14-year-old bank to list on the stock market in the first half of this year, and it should quickly become both a major lender to the...
From The Financial Times: Citibank , Standard Chartered and Bank of East Asia are all seeking to follow the lead of HSBC , which in August secured a licence to set up a rural bank branch in the Chinese hinterland. Allowing foreign banks to offer their services to more than 750m Chinese peasant farmers is […]
From People’s Daily Online: Central Huijin , China’s state-owned investment company, plans to inject 40 billion U.S. dollars into the Agricultural Bank of China (ABC) , the only one of the big four state-owned commercial banks that remains unlisted, the Economic Observer newspaper reported. The injection would mark a major step in ABC’s shareholding reform. […]
From the Times of India: Chinese banks including the central bank have begun to express themselves against political inteference by the Communist Party officials in the normal banking acvities. A senior official of the People’s Bank of China has publicly called for reforms in the system of monitoring state-owned banks by agencies of the party […]
After the successful IPO (of state-owned commercial banks) and the entry of foreign banks, service quality is key to banks’ competence in China. In other words, the bank that provides the best service has the most competence. From Caijing.com.cn: “We identified 130 problems in 15 categories, involving more than 200 types of transactions, as part […]
From People’s Daily Online: China encourages its small and medium-sized banks to introduce strategic investors from overseas in order to learn from advanced management ideas and techniques to improve their core competitiveness, top banking regulator said in Jinan Saturday. Addressing an annual national meeting on city commercial banks, Liu Mingkang, chairman of the China Banking […]
From Business Week: People’s Bank of China’s Zhou Xiaochuan is aiming for a floating yuan, real bond and stock markets, and more. Which central banker has the toughest job in 2006? Incoming U.S. Federal Reserve Chairman Ben Bernanke will need to be vigilant about inflation while getting the timing of interest-rate tightening just right. European […]
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