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Rights offer to raise US$2.6b

THE Industrial Bank plans to raise up to 18 billion yuan (US$2.63 billion) through a rights offer within 18 months to boost its capital, the lender said yesterday. The Fujian Province-based bank will offer 2.5 shares for every 10 shares held, the ...

From ZHANG FENGMING, Shanghai Daily,  23 Nov 2009

Gold demand sparkles in Q3

CHINA'S retail demand for gold rose to a record high in the third quarter on a stronger economic growth, an industry report said. The outlook for the fourth quarter depends largely on gold prices. If gold prices remained at the all-time high of US$1, ...

From ZHANG FENGMING, Shanghai Daily,  20 Nov 2009

Deutsche Bank to raise stake in Huaxia

DEUTSCHE Bank AG will spend 81.6 million euros (US$122.1 million) to increase its stake in Huaxia Bank to become the biggest shareholder of the Chinese bank. Deutsche Bank's stake will grow to 17.1 percent from 13.7 percent after it buys the share ...

From ZHANG FENGMING, Shanghai Daily,  19 Nov 2009

Related Topics: Deutsche Bank

Deutsche Bank becomes Huaxia's largest holder

DEUTSCHE Bank AG will spend 81.6 million euros (US$122.1 million) to increase its stake in Huaxia Bank to become the biggest shareholder in the Chinese bank. Deutsche Bank's stake will grow to 17.1 percent from 13.7 after it buys the parcel from ...

From ZHANG FENGMING, Shanghai Daily,  19 Nov 2009

Related Topics: Deutsche Bank

ICBC extends reach of services for super-rich

THE Industrial and Commercial Bank of China yesterday introduced its top-end private banking business in China's second-tier cities to cater for China's growing super-rich. The nation's biggest lender opened its private banking business in Chengdu, ...

From ZHANG FENGMING, Shanghai Daily,  18 Nov 2009

Related Topics: Industrial and Commercial Bank of China,  ICBC

Demand for jewelry a boost for platinum

CHINA'S record demand for platinum jewelry is expected to help shore up global demand, an industry report said yesterday. Demand for platinum jewelry in China is forecast to reach 54.5 tons, double that of a year ago, while global demand is ...

From ZHANG FENGMING, Shanghai Daily,  17 Nov 2009

Related Topics: Johnson Matthey

Banks jostle to open first branch in Taiwan

BANK of China and its rivals are vying to be the first lender to open a branch in Taiwan after a long-awaited memorandum of understanding between the Chinese mainland and the island was signed. Li Lihui, president of Bank of China, said he will ...

From ZHANG FENGMING, Shanghai Daily,  17 Nov 2009

Related Topics: Industrial and Commercial Bank of China,  Bank of Communications,  China Construction Bank

China to hold line on rate of yuan-US$

CHINA'S Ministry of Commerce yesterday rebuffed calls to allow the national currency to appreciate and said it's unfair to blame the yuan for global trade imbalances. "It is not conductive to the global economic recovery, and it's also unfair to ...

From ZHANG FENGMING, Shanghai Daily,  16 Nov 2009

Related Topics: International Monetary Fund,  Dominique Strauss-Kahn

FDI in China keeps climbing

FOREIGN direct investments in China posted a third consecutive monthly increase when they rose 5.7 percent in October from a year ago, riding on a recovering domestic economy, the Ministry of Commerce said yesterday. China attracted US$7.1 billion ...

From ZHANG FENGMING, Shanghai Daily,  16 Nov 2009

Related Topics: World Bank

China remains firm on yuan's rate

CHINA'S Ministry of Commerce today rebuffed calls for the yuan's appreciation and said it's unfair to blame the local currency for global imbalances. "It is not conducive to the global economic recovery and it's also unfair to only single out one ...

From ZHANG FENGMING, Shanghai Daily,  16 Nov 2009

Related Topics: International Monetary Fund

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