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  1. Business - Banking & Finance - FINANCE

    Like Bank of China, Citic Bank also offers service branded 'money laundering' by CCTV

    Posted Jul 09th 2014, 03:58pm by Don Weinland and George Chen

    ... Don Weinland and George Chen CCTV accuses Bank of China of providing money laundering service Citic Bank also moves money overseas, say sources A day after Bank of China (BOC) was accused ... the South China Morning Post yesterday that China Citic Bank- controlled by the Citic Group, which in turn is directly controlled by the State Council, China's cabinet- also facilitated ...

  2. Business - Banking & Finance - BANKING

    Fears of tough action by Beijing following allegation BOC launders money

    Posted Jul 11th 2014, 11:34pm by Daniel Ren

    ... The Bank of China cash-transfer service at the centre of money laundering allegations could escalate the sabre-rattling between the mainland's liberal-minded bankers and conservative regulators. That would add to fears of a heavy hand on the financial system as Beijing tries to stem massive capital outflows. On Wednesday, state broadcaster China Central Television accused BOC ...

  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. Property outlook brightens on PBOC cut

    Posted Jul 07th 2012, 12:00am

    ... stronger contracted sales in June,' said property analyst Alan Jin, of Mizuho Securities Asia, yesterday. Supported by pent-up demand, China Vanke, the mainland's biggest property ... by 25 basis points to 3 per cent, with immediate effect. This is the second rate cut in a month, following a cut on June 7, and lifted property shares yesterday. In Shenzhen, China Vanke rose ...

  5. Mainland market forecast dims Glorious Property's sales hope

    Posted Jul 06th 2010, 12:00am by Lulu Chen

    ... Cheng said cash flow was strong as the company had credit facilities of about 11 billion yuan from the Bank of China and China Construction Bank Corp. Glorious Property said it had available ... Sales prospects look dim for Glorious Property Holdings as property prices on the mainland are expected to drop. The mainland developer has so far met only about 28 per cent of its 15 ...

  6. Bank and property shares dive as investors react to mainland's policy tightening

    Posted Jan 14th 2010, 12:00am by Nick Westra

    ... rate- related stocks like Chinese banks and Chinese property developers.' Markets opened sharply lower after the People's Bank of China announced on Tuesday evening that lenders had ... has already raised borrowing costs for government bonds. Lenders paced the decline yesterday as China Construction Bank Corp, Industrial and Commercial Bank of China, and Bank of China ...

  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. Property sector beats a retreat

    Posted Dec 13th 2007, 12:00am by Peggy Sito

    ... estate market. Analysts said investors rushed to sell as confidence in the mainland market sank. They said sentiment was further eroded by the cloudy economic outlook in the United States. China Vanke and Poly Real Estate Group - the two largest mainland listed real estate developers by market value - fell to their lowest levels in two weeks. China Vanke fell 3.96 per cent to 31.02 yuan ...

  9. Business - Banking & Finance - CURRENCIES

    BOC Hong Kong fends off new competition in yuan trading

    Posted Feb 17th 2014, 04:47am by KANIIS LI, Jeanny Yu

    ... Kanis Li and Jeanny Yu Gradual liberalisation of the renminbi sees Bank of China's HK unit step up marketing efforts after losing sole clearing bank status BOCHK fends off new competition in yuan trading The Hong Kong unit of the state-owned Bank of China is stepping up marketing of its improved clearing services to western financial institutions in Hong Kong after losing ...

  10. Property firms cash in on listing frenzy after HK$290b in orders

    Posted Sep 28th 2007, 12:00am by Nevin Nie

    ... Wong Ka-chun, Maria Chan and Nevin Nie Retail investors have placed HK$290 billion of orders for the initial public offering of two mainland property firms, China Aoyuan Property Group and Soho China, betting that the stocks will gain on debuts amid the recent new listing frenzy. Guangdong-based China Aoyuan received HK$70 billion worth of retail orders, 190 times the amount ...




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