The head of China Development Bank's Hong Kong branch has been moved back to Beijing after an internal probe into a loan deal for the US$9.4 billion bid by a Thai conglomerate for HSBC's holding in Ping An Insurance.Thursday, 24 January, 2013, 4:58am
According to mainland media reports, Beijing has set this year's quota for new bank loans at nine trillion yuan (HK$11.11 trillion).
Now, nine trillion yuan sounds like a lot of money. Certainly it's more than the 8.2 trillion yuan in new local currency loans Chinese banks made last year.24 Jan 2013 - 5:30am
The four biggest mainland banks by assets are expected to get a 35 per cent share of the country's new-loan quota of 8.5 trillion yuan (HK$10.6 trillion) this year, maintaining their dominance over the mainland's 300 or so other commercial banks.19 Jan 2013 - 5:12am
China discovered more than 1.4 billion tonnes of new proven oil reserves last year, its third-highest annual haul ever, while its proven reserves of natural gas rose by a record of nearly 900 billion cubic metres over the year, the Ministry of Land and Resources said.19 Jan 2013 - 5:12am
Banks are set to take tougher action against distressed shipowners this year, leading to a rise in loan foreclosures and lenders taking possession of vessels, shipping experts say.19 Jan 2013 - 5:12am
European Central Bank officials were considering new rules that would require banks to give more information about loans used as collateral for borrowing from the institution, a person with knowledge of the situation said.18 Jan 2013 - 5:27am
Citic Telecom International, a subsidiary of Hong Kong conglomerate Citic Pacific, has secured bank loans to buy 79 per cent of Companhia de Telecomunicacoes de Macau (CTM).
Chief financial officer David Chan said eight banks would together loan US$1.16 billion to Citic Telecom to cover the purchase price.17 Jan 2013 - 4:19am
The mainland banking sector is said to be facing increasing risks from problematic loans and off-balance-sheet businesses, leaving regulators a daunting task in the future.
The top priority of the China Banking Regulatory Commission (CBRC) this year is to prevent "systematic risk" and "regional risk", the regulator said at its annual work meeting on Monday.16 Jan 2013 - 3:41am
While Hong Kong banks welcomed Beijing's initiative to let them make yuan-denominated loans to companies operating in Qianhai, analysts warned the amount of new business would be small, at least at first, and not lucrative.29 Dec 2012 - 4:58am
Firms in Shenzhen's Qianhai development zone will be allowed to borrow directly from Hong Kong banks in yuan, the People's Bank of China branch in the mainland city said yesterday.28 Dec 2012 - 6:11am