Industrial & Commercial Bank of China Ltd. and Bank of China Ltd. won approval to change how capital ratios are calculated, in line with international standards, as regulators seek to ease financing constraints for the country’s biggest banks.
Hong Kong Exchanges & Clearing Ltd. said it’s in talks with mainland counterparts on establishing mutual access after a Chinese newspaper reported that Shanghai’s bourse may pass stock orders for overseas markets to HKEx for execution.
Pang Da Automobile Trade Co., an auto dealership based in China’s northern Hebei province, said it plans to raise as much as 3 billion yuan ($483 million) selling shares to expand its auto-leasing unit and pay debt.
Industrial & Commercial Bank of China Ltd. and its competitors are poised to issue preferred shares as soon as this year to shore up finances as slowing profit growth curbs their ability to retain earnings as capital.
The collapse of a Chinese developer in a city south of Shanghai foreshadows a shakeout among the nation’s almost 90,000 real estate companies as the government reins in credit and the housing market slows.