china construction bank

CDT Money: More Signs of a Slowdown

Despite suggestions last week that the yuan exchange rate had reached equilibrium and hints of possible liberalization in its trading range, officials at the People’s Bank of China set the yuan’s U.S. dollar...

Xi’s the One, but Hu’s Replacing Wen?

At Foreign Policy, Damien Ma considers a possible upset to Li Keqiang’s succession to the position of Premier next year, as a rival candidate emerges. That contender is Vice Premier Wang Qishan, a face most familiar to...

China Construction Bank Opens First Branch in US

From china.org.cn: China Construction Bank Corporation (CCB), the world’s second largest bank by market value, opened its New York branch on Friday. The New York branch, CCB’s first branch in the United States,...

Chinese Banks Report Leap in Profits

From the Financial Times: China’s three largest banks reported huge profit jumps in the first quarter in what may mark a peak in earnings this year as government measures to curb loan growth and tackle inflation start to bite....

Temasek Sells China Construction Bank shares РAnette Jönsson

From Financeasia.com: The fixed-price transaction comes only two days after the Singapore investment company sold shares in Bank of China. Temasek Holdings has sold HK$1.99 billion ($255 million) worth of shares in China Construction Bank (CCB) through a block trade only two days after completing a similar sell-down in Bank of China (BOC) . The […]

Charges of Bribery in a Chinese Bank Deal – David Barboza

From The New York Times: The American company says it was a legitimate cost of doing business in China, the price it had to pay to help secure a large software contract with one of China’s biggest banks. But a Chinese company that says it got pushed out of the deal has a different version: […]

Rare Look at China’s Burdened Banks – David Barboza

From New York Times: Two years ago, one of China’s largest state-owned banks hired a senior risk adviser who had previously worked for major banks in the United States. His mission was to advise the Chinese bank on how to clean up its books, by helping assess loans that were going bad. The banker’s career […]

China Construction Bank Plans Overseas Acquisitions, Branches – Luo Jun

From Bloomberg: China Construction Bank Corp., the nation’s fourth-largest lender, plans to make acquisitions and open branches in the U.S. and Australia as it seeks expansion outside of its home market. The Beijing-based lender will also strengthen its foothold in Frankfurt and South Africa, where it operates two branches, Zhang Jianguo, 52, president of Construction […]

China Construction to Buy Bank of America’s H.K. Unit – Patricia Cheng

From Bloomberg: China Construction Bank Corp. agreed to buy Bank of America Corp.’s Hong Kong and Macau branches for HK$9.7 billion ($1.24 billion), the largest overseas acquisition by a Chinese lender. The takeover will give China’s third-largest bank 17 outlets with HK$7.4 billion of net assets, the Beijing-based company said in a statement today. Construction […]

CCB chairman Said China govt interference remains problem for banks – AFX

From AFX via Forbes.com: Chinese government interference remains a problem for the nation’s banks, China Construction Bank (CCB) chairman Guo Shuqing said. Guo told an academic forum in Beijing that the state’s targeting of the lending practices of its Big Four banks fails to take account of commercial imperatives. He also described the monopoly status […]

China Construction Bank sells repossessed assets – Chris Oliver

From MarketWatch: China Construction Bank said Friday it has sold a portfolio of repossessed mortgage assets with a face value of 960 million yuan ($120 million) to a foreign consortium. The bank said it received 19% of the face value of the assets in the sale. The portfolio included offices, shopping malls, retail stores, warehouses, […]

Chinese Milestone: A Major Bank Goes Public – David Barboza

From the New York Times: The China Construction Bank, fresh from raising $8 billion in a feverish initial public offering, saw those shares put in only a lukewarm performance in their first day of trading on Thursday. The much-anticipated offering was China’s biggest ever, and the largest worldwide in four years. And despite the tepid […]

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