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  1. Business - Banking & Finance - FINANCE

    China's Citic Bank also offers foreign exchange service branded 'money laundering' by CCTV

    Posted Jul 09th 2014, 03:58pm by DON WEINLAND, KEIRA HUANG, George Chen

    ... Don Weinland, Keira Huang and George Chen CCTV accuses Bank of China of providing money laundering service State TV accuses B.O.C. of cash scam Two of China’s top state-owned banks may ... broadcaster CCTV has accused Bank of China (BOC), one of the mainland’s Big Four state-owned lenders, of “money laundering” in providing such a service. BOC may not be alone in doing so. Industry ...

  2. Business - Banking & Finance - BANKING

    Investment agency Central Huijin increases stake in ICBC and BOC

    Posted Oct 10th 2012, 12:00am by Kwong Man-ki, Jeanny Yu

    ... and whose parent company is sovereign wealth fund China Investment Corp, lifted its interest in ICBC by 6.27 million shares to 123.77 billion shares, according to a statement filed with the Shanghai ... boosts stakes in mainland banks Central Huijin, an investment agency of the central government, raised its stakes in mainland banks, including Industrial and Commercial Bank of China and Bank ...

  3. News - China - BANKING

    Bank of China vice-president resigns after allegations of affairs

    Posted Apr 19th 2014, 01:54pm by Staff Reporter

    ... Staff reporter Bank of China vice-president Wang Yongli resigns after being probed by the party's disciplinary body, which suspends him for unrelated issues Top manager quits despite being cleared of graft A vice-president of China's fourth-largest bank has resigned after he was investigated and subsequently cleared of suspicion of corruption by the Communist ...

  4. Agricultural Bank looks to boost earnings via investment banking

    Posted Dec 05th 2007, 12:00am by Tom Miller

    ... to the State Council,' the source said. Xie Ping, general manger of Central Huijin, a government investment unit under the China Investment Corp, said last week that his organisation had no plans ... Tom Miller and Al Guo in Beijing Agricultural Bank of China has set up an investment banking division, a sign that the weakest of the Big Four state-owned banks is targeting more ...

  5. Sinosteel Corp aims to raise up to US$2b in mainland, HK offerings

    Posted Dec 07th 2007, 12:00am by Carol Chan

    ... Carol Chan Sinosteel Corp, a state-owned metallurgical and mineral resources developer and processor, plans to raise between US$1.5 billion and US$2 billion in two initial public ... 'We're still working on the detailed listing plan,' he said, so, '[the] management is not sure whether the listing vehicle will also include the two units.' Sinosteel Corp plans ...

  6. More investment options urged to soak up liquidity

    Posted May 28th 2007, 12:00am by Staff Reporter

    ... Alice Yan Interest rate rises alone will not solve the mainland's serious problem of excessive liquidity and more investment channels are necessary, Bank of China vice-president Zhu ... mostly through cash transfers, while the rest was from institutions. According to China Securities Depository and Clearing Corp, about 300,000 new stock-trading accounts were opened every day ...

  7. Business - Economy - CURRENCIES

    China and UK in talks over London yuan clearing bank

    Posted Feb 20th 2014, 11:16am by Jeanny Yu

    ... Jeanny Yu jeanny.yu@scmp.com Discussions pave the way for bank, which would threaten Hong Kong's dominant yuan position China and UK in talks over London yuan clearing bank ... that Hong Kong banks handle now are from Europe, as about 47 per cent of yuan global payments excluding mainland China and Hong Kong are from the continent, according to data from financial services ...

  8. HK must act to grab slice of state investment trade

    Posted Aug 04th 2007, 12:00am by Shirley Yam

    ... to lay our claim to this segment is for you to pull out the 'prosperity and stability' trump card and convince Beijing that the soon-to-be-established China Investment Corp (CIC) should ... of making Hong Kong an international financial centre. In it, the leading United States investment bank announces that it has created a new title- Head of Central Banks and Sovereign Wealth Funds. ...

  9. Investment funds push index back above 15,000

    Posted Dec 09th 2008, 12:00am by Nick Westra

    ... billion. Mainland banking stocks surged on expectations of a reduction in the business tax on bank revenue. China Construction Bank Corp rose 9.98 per cent to HK$4.85 and Industrial and Commercial Bank of China leapt 7.37 per cent to HK$4.37. The Hong Kong market has bounced back 2,746.31 points over the past 12 trading days from its low of 12,298.56. Fund managers said the surprising ...

  10. Ping An, CIC among investors in Visa IPO

    Posted Mar 26th 2008, 12:00am by Ben Kwok

    ... Ben Kwok Not just China Life Insurance but its rival Ping An Insurance and the mainland's new sovereign fund China Investment Corp (CIC) are said to be among mainland financial ... offer price of US$44. That would have given CIC its first paper profit from overseas investments. Visa raised nearly US$20 billion last Tuesday. China Life had invested US$300 million ...




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