China

Bank of China, Sumitomo to cooperate in yuan business

Bank of China, Sumitomo to cooperate in yuan business

BoC and SMBC will cooperate on yuan-related business to accomodate increasing trade between China and Japan.

China issues 2.81 billion bank cards by end of September

China issued 2.81 billion bank cards as of the end of the third quarter, up 4.9 percent from the end of June.

China's reserve ratios for cooperative banks to go down

China’s central bank said the requirement for reserve ratio of 16.5 percent for more than 20 rural cooperative banks will expire this month, and it will revert back to 16 percent.

China and Hong Kong renew currency swap agreement

The People's Bank of China and the Hong Kong Monetary Authority have signed a renewed currency swap agreement for a term of another three years.

China Investment Corp acquires $1.75bn CCB stake

China’s sovereign fund now has 60.46% stake in the lender, up from 59.31%.

CCB mulls to establish foothold in Brazil

The move to take advantage of China overtaking of the US to become Brazil’s largest trading partner.

Temasek buys one third of CCB shares

And the remaining stocks from BofA were bought by Chinese investors.

Chinese banking regulators warn lenders on risks from unprofitable gov't projects

And worse, loans to property developers are doomed to sour as sales slow.

Chinese banks asked to stop selling short-term investment products

Local banks have been advised to stop selling short-term investment products by the China Banking Regulatory Commission.

CCB says Bank of America deal won't affect development

A China Construction Bank spokesman said that Bank of America's decision to sell most of its CCB shares will not affect CCB's development.

China Construction Bank Corp loses ties with Bank of America

BofA will sell its remaining 10.4 billion CCB shares to private investors this month.

GRGBanking produces first ATM in Myanmar in 8 years

The last ATM in the country was launched by Co-operative Bank back in 2003.

China banks NPL ratio down 1.84%

The ratio of non-performing loans by Chinese banks at the end of September fell 0.6 percentage points to 1.84 percent  less than the end of 2010.

Private lending in China may be monitored: central bank official

The Chinese government may put up a monitoring system for private lending activities.

HSBC China's capital replenished by CNY2.8B

HSBC Bank China's capital 's parent company, the HSBC Limited, has replenished its capital with 2.8 billion yuan or US$442 million U.S. dollars.

Goldman Sachs to sell $1.1b shares in Industrial & Commercial Bank of China

This is Goldman’s third sale of its ICBC stock since 2006.

ANZ targets ‘pretty aggressive’ growth in China: Chairman

Encouraged by a revenue jump of 80 percent in its last fiscal year, ANZ is targeting “pretty aggressive” growth in China.