State Grid Corp of China (SGCC), one of China’s two state-owned power transmission companies, plans to more than double its investment to RMB 1.16 trillion (US$169.9 billion) in total for grid construction nationwide by 2010 in response to the central government’s new policy to stimulate economic growth, sources reported.
The expansion plan is still subject to [...]
Hong Kong shares fell 2.9 percent on Tuesday, unsettled by worries over a protracted global recession, while China Construction Bank slid after Bank of America BNC.N said it was boosting its stake in the Chinese lender at a discount to its current trading price.
Chinese auto makers dodged the downdraft in the broad market to notch [...]
Bank of America Corp. will pay $7 billion to almost double its stake in China Construction Bank Corp., adding to the purchase of Merrill Lynch & Co. even as it cuts jobs and gets government bailout funds.
The biggest U.S. bank by market value will boost the three- year-old holding in China’s No. 2 lender to [...]
THE State Grid Corp of China, the country’s biggest power supplier, plans to more than double its investment for the next two years to a total of 1.16 trillion yuan (US$169.9 billion) for grid construction nationwide.
“We decided to add about 500 billion yuan investment to the original 550 billion yuan scheduled for 2009 and 2010 [...]
CHINA’S top banking regulator rated the country’s banking industry as healthy with total assets increasing rapidly, bad loan rates dropping and capital adequacy ratio (CAR) rising.
“The performance of Chinese banks has reached a historic peak,” said Jiang Dingzhi, vice chairman of the China Banking Regulatory Commission (CBRC), at a financial forum in Beijing on Saturday.
Total [...]
Chinese banks should be alert to the risks of growing bad loans and narrowing profit margins amid a worsening global financial crisis and domestic interest rate cuts, a senior banking regulator has warned.
China Banking Regulatory Commission Vice Chairman Jiang Dingzhi told a financial forum in Beijing on Saturday that China’s banking system, despite being generally [...]
