American investors hopeful the Chinese government’s deep, wide-open pockets will come to the rescue of ailing U.S. stocks may not be happy to hear this news. From Reuters: After China’s state-controlled CITIC...
From Xinhua via People’s Daily online : China’s CITIC Securities Co. is to cancel a deal to buy into Bear Stearns after news that the fifth largest investment bank in the United States is to be bought out by JPMorgan...
From AP via The New York Times: China, which is aggressively seeking overseas energy assets to run its booming economy, said Sunday that one of its biggest conglomerates had bought the Kazakhstan oil assets of a Canadian company for $1.91 billion. The CITIC Group of China bought the oil assets of the Nations Energy Company […]
From Reuters: China’s CITIC Group, a diversified state-owned investment vehicle with few oil interests, furthered Beijing’s drive for overseas energy assets on Thursday with the $1.9 billion purchase of a large Kazakh field. It has agreed to buy the Kazakh oil assets of Canada-based Nations Energy Co Ltd., the cornerstone of which is the Karazhanbas […]
From International Herald Tribune: Citic Group, China’s biggest state-run company, announced the retirement of its chairman, Wang Jun, on Thursday, triggering a government-directed management reshuffle among the country’s biggest financial institutions. Wang will be replaced by Kong Dan, president of the company, which is based in Beijing. Replacing Kong as president and vice chairman of […]
From Xinhua via China Daily: China CITIC Bank is planning a share listing in Hong Kong by the end of this year, followed by another share offering in China’s inland market, its president said on Friday. CITIC is joining a Chinese bank listing parade ahead of the full opening of China’s financial market to foreign […]
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