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...
china construction bank
by Scott Greene | Oct 28, 2011
The chairmen of China’s two biggest banks resigned Friday to assume government positions, signaling a turnover at the top of China’s financial system ahead of Beijing’s political leadership change in 2012. From...
by zhou shuren | Oct 10, 2011
New York Times reports that China’s Sovereign Wealth Fund bought shares of major banks in order to inject confidence in the market: The China Banking Regulatory Commission is putting heavy pressure on banks to raise...
by Kate Zhao | Nov 28, 2007
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 […]
by Kate Zhao | Oct 19, 2007
From AP via International Herald Tribune: Sharply dressed in a pinstriped suit and purple tie, the chairman of one of China’s biggest banks talked animatedly at a news conference about the bank’s ambitions to expand...
by Mo Ming | Nov 28, 2006
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: […]
by Xiao Qiang | Nov 15, 2006
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 […]
by Mo Ming | Aug 27, 2006
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 […]
by Mo Ming | Aug 25, 2006
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 […]
by Mo Ming | Aug 1, 2006
From Bloomberg: Managers at Bank of China Ltd., the country’s second-largest lender, spent a decade pulling off the biggest bank heist in Chinese history. The men at a branch in southern China embezzled $485 million before using false identities to flee to the U.S., where they were arrested in 2004, U.S. prosecutors say. The former […]
by Mo Ming | Jun 29, 2006
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 […]
by Mo Ming | Jun 17, 2006
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, […]
by Sophie Beach | Oct 28, 2005
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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