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  1. Business - Banking & Finance - MR. SHANGKONG

    Will the dealmakers go to Shanghai's financial centre?

    Posted Oct 07th 2013, 12:00am by George Chen

    ... in the financial industry, especially in the investment banking and private equity sectors, you may agree with me that there is not much need to travel to Shanghai from Hong Kong, London, or New York, ... together for internal weekly meetings. Then on Tuesday they fly out again. I met a senior banker from a major American bank for lunch last week and he talked about the people phenomenon I noted ...

  2. Bank rates cut for first time in four years

    Posted Jun 08th 2012, 12:00am

    ... for the world's second-biggest economy. Also, in an unprecedented move, Beijing decided to allow banks more flexibility to set their rates, in what economists say is a key step towards sweeping financial reform. The People's Bank of China cut rates by 25 basis points for 12-month lending and deposit interest rates starting from today to counter a deepening economic slowdown as the euro-zone ...

  3. Time to end loan quotas, top banking official says

    Posted Nov 02nd 2011, 12:00am

    ... Daniel Ren in Shanghai ren.wei@scmp.com Beijing should scrap the so-called lending quota that it uses as a monetary policy tool and give banks more freedom, a senior banking official said yesterday. Yang Zaiping, executive vice president of the China Banking Association (CBA), a government-controlled banking group, told a forum in Beijing yesterday that the quota system hampered ...

  4. Beijing to make growth main target, banks say

    Posted Mar 01st 2012, 12:00am

    ... consumer price inflation at 4 per cent. Banks expect a higher growth rate, and the lower forecast means that the government would step up economic reforms that could boost domestic consumption, ... be hot topics at the NPC meeting, Peng said. Qu Hongbin, co-head of Asian economics research at HSBC, said the central bank would have to speed up quantitative easing by cutting reserve ...

  5. Beijing trader tells of broken trust with DBS

    Posted May 15th 2012, 12:00am

    ... thought she would have to be on guard with her bank. Hao Ting, a Beijing businesswoman who deals in energy and petrol, was testifying at the Court of First Instance yesterday. DBS Bank (Hong Kong) ... the importance of business contracts,' Hao said as Jat Sew-tong SC, for the bank, questioned her about a document she had signed to open an account with DBS. 'When we sign our [business] ...

  6. World Bank economist warns of property bubble

    Posted Feb 11th 2011, 12:00am by Staff Reporter

    ... Justin Lin Yi-fu, the World Bank's chief economist, says the mainland must be wary of the possible risk of a property bubble. Lin, who was the founding director of the China Centre for Economic Research at Peking University before joining the World Bank, stressed he has confidence in the mainland's economy in view of the government's strong finances and foreign exchange ...

  7. More of the poison may provide cure

    Posted May 18th 2012, 12:00am

    ... its slowing economy. Mainland banks' bad loans increased for a second quarter, the first time in about six years, according to the China Banking Regulatory Commission (CBRC). ... stimulus plan; this time we should resort to plans that are less costly,' said Lu Zhengwei, chief economist at Industrial Bank, who has been advocating that China devalue its currency to help ...

  8. Mid-sized lenders ask regulators to ease deposit ratio

    Posted Mar 15th 2012, 12:00am

    ... George Chen in Shanghai and Lulu Chen in Beijing Mid-sized mainland banks have urged the industry's regulator to ease loan-to-deposit ratios as they struggle to attract deposits and expand lending amid the broader economic slowdown. The banking regulator has set the loan-to-deposit ratio (LDR) for all commercial lenders at 75 per cent, which means they can lend no more than ...

  9. Developers eagerly topping up land banks

    Posted Jul 04th 2009, 12:00am by Peggy Sito

    ... Peggy Sito Mainland developers are busily replenishing their land banks in the latest sign of growing investment confidence in the property market. Agile Property Holdings bought a 100,000 ... existing land bank is only enough to supply its development requirements for two to three years, and it has more than 20 billion yuan in cash on hand, according to Citigroup. Another property ...

  10. Serious financial gains

    Posted Nov 01st 2004, 12:00am by Staff Reporter

    ... It is time to eat some humble pie. Days after we predicted that Beijing would make it to the end of the year without needing a significant rise in interest rates, the People's Bank ... was the freeing of lending rates. Most commercial banks may now lend money at any rate they choose above the benchmark rate. Previously, the maximum allowable interest rate had been capped at 70 per cent ...




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