The third purchase in a year has boosted Temasek’s stake in ICBC to 7.04% from 6.71% while Goldman Sachs sold its remaining ICBC stake Monday to raise USD 1.1billion
This will be the first time for China to dispose of bad debts at local level by setting up a local asset management firm.
LGFV loans stood at 9.3 trillion yuan at the end of 2012, 1.5 times the fiscal revenue reported by local governments for the year of 2012
Goldman Sachs had reduced its stake in ICBC five times before Monday’s sales as international institutions showed growing worries over China’s banking industry and overall economy.
The problems of China’s lenders are greater than those of the Western banks on the eve of the financial crisis, but because they are state-owned, the government will most likely print money and prop them up
IPO activity from Chinese companies has fallen to $2.9 billion for year-to-date 2013, a 66 percent decrease compared to a year ago.
The non-performing loan outstanding of commercial banks rose to CNY 526.5billion at the end of March while the NPL ratio inched up to 0.96%.
M2, a broad measure of money supply, rose 16.1 percent year-on-year to 103.26 trillion yuan ending April
Four biggest state-owned banks extended a combined 245 billion yuan in new loans in April, compared with 370 billion in January and 330 billion in March
It’s widely believed that the recent RMB rally is the major driving force behind the rising funds outstanding for foreign exchange
The Buffet-backed BYD in March reported a drop of over 94% in net profit for the year 2012 largely due to weakening demands in the world’s second largest economy amid a downturn.
The central bank is considering an even broader trading band for the currency, said Yi Gang, deputy governor of the People’s Bank of China (PBoC) earlier last month.
Regulators in China are undertaking a joint investigation in the country's vast bond market, as part of a broader clamp-down on irregular transactions
The China-Iceland FTA covers trade in goods and services, investments, and various other areas.
“Many Chinese investors regard Europe’s current weakness as an opportunity to jump in.”
Editors’ Picks »
- 1China to Cut Reserve Ratio for Some Rural Banks
- 2China M2 up 12.1Pc, Outstanding Yuan Loans 13.9 Pc in March
- 3Delayed Response to Tainted Water Raises Concerns
- 4China's FDI Inflow down 1.47% in March
- 5China's MMG to Acquire Las Bambas
- 6China’s Rare Earth Exchange Begins Trading Following WTO Ruling
- 7Alibaba’s Q4 Net Income More than Doubles Ahead of IPO
- 8China Trade Fair Shadowed by Weak Exports
- 9Embassy Says 2 Chinese Nationals Aboard Capsized S.Korean Ship
- 10South Korean Ferry Sinks off South Coast