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China Everbright Bank
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 / company

China Everbright Bank

(中国光大银行)

China Everbright Bank
China Everbright Bank
中国光大银行
China Everbright Group is a state-run financial conglomerate. Its operations include China Everbright Ltd, which listed in Hong Kong in 1997 with the stock code 165, and China Everbright Bank. Another unit, brokerage China Everbright Securities, was penalised in August 2013 after a trading glitch caused a spike of more than 5 per cent in China’s stock indexes on August 16.
Chairman / President
Yu Fachang
CEO / Managing Director
Lin Chun
CFO / Finance Director
Wong Chun Sek
Industry
Banking, Financial Services, Fund & Asset Management
Website
cebbank.com
Headquarters Address
China Everbright Center, 25 Taipingqiao Avenue, Xicheng District, Beijing, China
Stock Code
SSE: 601818
SSE: 360013
SEHK: 6818
Year Founded
1992
More Chinese banks are detailing how much they clawed back in staff bonuses last year. Photo: AFP
Banking & finance

More Chinese banks claw back bonuses, cut salaries despite mixed profit recovery

Some lenders are also deferring bonuses and cutting headcount as they tighten their purse strings.

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China adds 12 banks to digital yuan system, expanding e-CNY’s economic presence

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Banking & finance

Chinese financial firms press on with debt issuance to fund overseas expansion

China property

BOC, China Everbright among banks injecting billions into ‘whitelist’ properties

Leading Chinese banks have injected billions of yuan into housing projects with the aim of financing the completion of pre-sold but yet-to-be-completed homes across the country.

A construction site in Beijing. As of the end of January, the local governments of 170 cities had put forward 3,218 real estate projects for consideration under the whitelist mechanism, according to official figures. Photo: Reuters
Banking & finance

ICBC chairman resigns as Chinese banks’ leadership changes mount

The world’s third-largest lender by market capitalisation has announced a key change at the top, the latest in a slew of leadership reshuffles in the country’s banking sector this year.

Banking & finance

Shares of Chinese securities firms slump after 2022 loss warnings

The share prices of Chinese securities firms have slumped ahead of their earnings announcements for 2022 amid expectations of record losses.

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Xi Jinping's anti-corruption campaign

Ex-CEO of China Everbright’s financial arm probed by anti-corruption body

Chen Shuang, who resigned as CEO of China Everbright Limited in 2019, is being investigated for ‘suspected violations of the law’, the CCDI announced in a one-line statement on Tuesday.

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Chen Shuang, who resigned as CEO of China Everbright in 2019, is being investigated for ‘suspected violations of the law’, the CCDI said. Photo: Nora Tam
Banking & finance

Two Chinese banks fined US$2.2 million for flouting asset management rules

Bank of China and Everbright Bank become the first lenders to be fined by the mainland’s banking regulator along with their wealth management units, as their products fall short on risk limits.

Banking & finance

Everbright Securities shakes up senior ranks for breaching austerity drive

The surprise reshuffle at the senior echelons of one of China’s largest brokerages came hot on the heels of the unexpected resignation on Monday by Tian Huiyu as chairman of China Merchants Bank.

China property

China’s home foreclosures soar as property bull market sputters

Nowhere is the problem more serious than in Guangzhou, where 33,000 foreclosures were reported in a city whose economy shrank 2.7 per cent last year, more than the national average of 1.6 per cent.

Buildings in Shenzhen on Sunday, August 4, 2019. Photo: Bloomberg
Banking & finance

China’s first-quarter bad loans climb as Covid-19 pandemic leaves its mark

Chinese banks are bracing for an unprecedented drop in profits this year as they grapple with the fallout of Covid-19.

The Wonderland nursery products company in Dongguan city of Guangdong province on 7 May 2019. Photo: EPA-EFE
Banking & finance

Prepare for a looming buyers’ market in global assets, says CEO of China Everbright

China Everbright CEO says his goal is to turn the state-owned investment firm into ‘China’s Blackstone’ by increasing overseas assets to half of its total.

China property

China Evergrande to diversify into vehicles, energy amid clampdown on home prices

Big property developer to pay US$2.1 billion for 40.96 per cent of Guanghui Group, making it the second-largest shareholder

Fintech

Chinese bricks-and-mortar bank jumps on fintech bandwagon, with Alipay's help

China’s ‘big five’ state banks have all formed alliances with technology companies such as Ant Financial. Photo: Imaginechina
IPO

New | Everbright to spin off Greentech via a Hong Kong IPO

Everbright to spin off Greentech unit via a Hong Kong IPO
Agricultural Bank of China

New | Capitalisation gap forming between China's biggest banks as Basel deadline looms

Everbright overhaul seen as part of wider reform of state firms

China Everbright Group's shareholding restructuring, and a planned flotation of assets not already listed, is aimed at improving its transparency, governance and efficiency.

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J.P. Morgan

JPMorgan stops work on Chinese firm's US$1 billion IPO amid concerns over hiring

JPMorgan's hiring practices in Hong Kong and the mainland have come under regulators' scrutiny. Photo: Reuters

China Everbright's not so bright on trading debut

Five new listings made their debuts on the Hong Kong stock exchange yesterday, with China Everbright Bank, the largest flotation of the year, performing the worst.

Everbright can meet China capital rules

China Everbright Bank, a Beijing-based lender making its third tilt at a Hong Kong flotation, says it will be able to meet more stringent mainland capital requirements within two years after raising fresh equity capital.

Opinion | Hong Kong listing a milestone for Everbright Bank chairman

The listing of China Everbright Bank in Hong Kong has a double significance for its chairman, Tang Shuangning. Tang, a former vice-chairman of the China Banking Regulatory Commission, will reach the official retirement age of 60 next year.

Tang Shuangning
J.P. Morgan

JPMorgan pulls out of China Everbright Bank's Hong Kong share sale

JPMorgan Chase has pulled out of a syndicate of banks working on China Everbright Bank's US$2 billion share sale in Hong Kong, two people familiar with the matter said.

China Everbright Bank has lost one of the bookrunners for its Hong Kong share sale, JPMorgan Chase, sources say. Photo: Reuters

Everbright talks signal year-end listing

China Everbright Bank, which received the go-ahead for a listing from the Hong Kong stock exchange late last month, held a meeting with its syndicate bankers in Beijing yesterday, two people familiar with the deal said, prompting speculation of a year-end listing that would raise up to US$4 billion.

Mr Shangkong

Mr. Shangkong | Chinese firms in Hong Kong may be new paradises for 'princelings'

It's a season of change in Hong Kong. Change what? Quietly changing jobs for some important people. The US government announced last month that it would investigate JP Morgan's Hong Kong hiring practices relating to job offers for children of some important people on the mainland, and as a result, several such "important kids" working for other foreign banks are now seriously considering new jobs.

China Construction Bank

Banks will not end connected hiring

Banks have no plans to change their policy of hiring so-called princelings or other well-connected people to help grow their business on the mainland or in other emerging markets - despite the shockwaves caused by news that United States regulators are investigating JP Morgan's hirings of the children of the elite in China.

One banker says lenders in the mainland and Hong Kong like to hire second generations from the established families. Photo: Bloomberg

Update | JP Morgan Chase faces US probe for hiring Chinese princelings

JP Morgan Chase is being investigated by US authorities over claims the bank hired the children of influential Chinese officials to secure business in the country. Photo: AFP

Everbright to double size of Hong Kong share sale

IPO

Cash-strapped Chinese banks turn to Hong Kong

Mainland banks are reviving their listing plans to raise money in Hong Kong this year as Beijing continues to keep an indirect hold on onshore initial public offerings.

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