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Bank of China

This tag is associated with 6 posts

China frees up lending rates in major reform


China’s central bank removed controls on bank lending rates, effective Saturday, in a long-awaited move that signals the new leadership’s determination to carry out market-oriented reforms. The move gives commercial banks the freedom to compete for borrowers, a reform the People’s Bank of China (PBOC) said will help lower financial costs for companies. Previously, the … Continue reading

A shift in Chinese strategy on North Korea?


There seems to have been a shift in Chinese-North Korean relations as the Bank of China has stopped its business with a North Korean bank: Bank of China Ltd. said it cut off dealings with North Korea’s primary foreign-exchange bank in the first publicly announced move by a Chinese state-owned company to distance itself from … Continue reading

China to sell 20 billion yuan ($3.2 billion) in treasury bonds


The certificate treasury bonds, the third batch this year, will be sold Oct 10-19 to individual investors, the China Daily Friday quoted the finance ministry as saying. They include 12 billion yuan of three-year bonds with an annual interest rate of 4.76% and 8 billion yuan of five-year bonds with an annual rate of 5.32%. Interest will … Continue reading

China’s most wanted man shot dead


After an eight-year manhunt across four provinces, involving tens of thousands of police officers, China’s most-wanted criminal died just nine miles from his mother’s home. Zhou Kehua, 42, was cornered in an alley behind a shoe shop in the central city of Chongqing and opened fire on police, according to China Central Television (CCTV). The … Continue reading

Temasek seeks $2.4 billion with China bank stake sales


Temasek Holdings TEM.UL is selling about $2.4 billion worth of stakes in two of China’s largest banks, as the Singapore state investor reshuffles its financial sector portfolio. Temasek, which is the single-biggest shareholder in Standard Chartered Bank, is offering about $1.2 billion in Hong Kong-listed shares of China Construction Bank and another $1.2 billion of … Continue reading

Bank of China profit disappoints, signals rough quarter for peers


Bank of China, the country’s No.3 lender by market value, posted on Thursday a near 10 percent rise in first-quarter net profit but the figure fell below expectations as flat net interest margins offset a rise in fee income. Bank of China is the first of China’s four largest banks to report earnings for the … Continue reading

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