China

Backed by the central government, the winner between Bank of China and the Bank of Shanghai will offer loans at cheaper rates aimed to boost economy.

Chinese government extends maturity of bail-out bonds for another ten years after CCB announced inability to repay loans.

Foreign banks cut investments in CMB since August 2009, with JP Morgan Chase & Co., UBS and Barclays Bank among the said investors.

DBS Bank and Agricultural Bank of China signed an MOU to enhance cooperation in Asia across a wide spectrum of businesses. These include cash management, treasury products, loan syndications, corporate finance, trade finance, asset management and private banking.

StanChart senior executive John Tan said the bank's addition of dealers by two-thirds in three to five years aims to intensify presence in the country.

The two banks set to launch new loan plan to solve financing woes of SMEs.

CCB aims to jack up more revenues coming from sources apart from lending by raising $380 million in its first yuan-denominated private equity fund. According to a report in Ethiopian Review, CCB, through its Hong Kong unit CCB International (Holdings) Ltd, is raising over $146 million from China's wealthy individuals, after securing approximately $234 million from institutions for its CCBI Healthcare Fund, which targets healthcare firms ahead of their listings, a sales document seen by Reuters showed.

A $4 million deal can provide Bank of East Asia Ltd (BEA) entrance into China's fund market.

HSBC Bank China appointed Helen Wong as its new Deputy Chief Executive Officer and Director of the Board with immediate effect.

ICBC introduced 320 varieties of new financial products during the first half of this year to increase its incomes in investment banking, debt financing tool underwriting and corporate financing.

By extending its overseas operating institutions to 15 countries, ICBC's overseas operating assets as of end of June grew to US$46 billion, increasing 15 percent from the beginning of 2009. So far the Industrial and Commercial Bank of China had set up and owns 143 overseas branch institutions and banks and established agency relationships with 1378 banks in 125 countries and regions.

The British Standards Institution approved the transition of ICBC Bill Business Department's certification from ISO 9001:2000 to ISO 9001:2008. The achievement marks the 7th consecutive successful follow-up assessment of the Bill Business Department and its branches, which also makes it the first banking institution to be certified with ISO 9001:2008 in China.

HSBC Bank China expanded in China's Bohai Rim region by becoming the first foreign bank to open a branch in Jinan.

Standard Chartered Bank China has appointed Katherine Tsang as Chairperson for Greater China.   In her new role, Katherine will help capture opportunities in Greater China with respect to trade flows, capital investment and talent development. Katherine will also continue to help deliver the Bank’s overarching strategy in China.

The biggest in China since 2007, the initial public offering of China State Construction Engineering Corporation aims to raise as much as $7.3 billion. Pegged at $0.58 to $0.62 each, as many as 12 billion shares are intended to be sold by the housing contractor. It is the world's biggest IPO since Visa Inc. raised more than $19 billion in March 2008.

The beginning of long-term collaboration between BEA and Hana Bank have been formalised with a MOU. It outlines the framework for their mutually beneficial co-development of businesses in Mainland China, Hong Kong, Korea, and other key markets.