Li Shanshan News
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Bank of China Ltd. led Chinese banking shares higher in Hong Kong after their state-backed shareholder allowed the nation’s biggest lenders to cut dividend payouts, shoring up capital while avoiding share sales.
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China Minsheng Banking Corp., the nation’s first non-state lender, plans to raise about 21.5 billion yuan ($3.2 billion) in a share sale in Shanghai.
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China may report</a> a $17.8 billion trade surplus for September that would cap the biggest quarterly excess since the financial crisis in 2008, adding fuel to U.S. calls for import protection.
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China told banks, which have lent at least $1.2 trillion to local governments, to recalculate capital levels by March 31 to account for higher risk weightings on such loans, two people with knowledge of the matter said.
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Agricultural Bank of China Ltd. , the nation’s fourth-largest lender, rose the most in six weeks in Hong Kong trading after posting a bigger-than-estimated increase in fourth-quarter profit as loan margins widened.
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China Construction Bank Corp., the world’s second-largest lender by market value, plans to raise as much as 75 billion yuan ($11 billion) in Asia’s biggest-ever rights offer to replenish capital eroded by loan growth.
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China’s banking regulator may require the nation’s biggest lenders to boost their capital adequacy ratios to as high as 15 percent by the end of 2012, a person with knowledge of the matter said.
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