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’How do you say quid pro quo in Chinese?
The Federal Reserve Board on Monday approved the application by China Construction Bank Corporation, Beijing, People’s Republic of China, to establish a branch in New York, New York.
Attached is the Board’s Order relating to this action.
A committee is formed to look at China’s subprime
Not before time: just a day after news that subprime-related losses at Bank of China, the country’s biggest bank, might be more than six times larger than initially estimated, the FT reports that China’s banking regulator has convened a task force to monitor US subprime exposure at Chinese banks as they prepare for larger-than-expected losses on those holdings.
Another day, another (Singaporean) SWF transaction…
It seems to be SWF week, with the deals flying thick and fast, though thanks to Temasek, the Singapore investment company, some of the current activity focuses on the selling-off of stakes.
Temasek on Thursday made the third sale in a week of holdings in a Chinese company,
Temasek signals further China doubts
Temasek Holdings, the Singapore state investment company, gave further signals on Thursday of its belief that several areas of the Chinese economy have reached their cyclical peak, with the third sale in a week of holdings in mainland companies.
DBS Bank chief to quit, but not for China buy-out fund
The head of DBS Bank, Southeast Asia’s largest financial group, on Monday became the third senior financial executive to depart in the past week from posts linked with Temasek, the Singapore state investment company,
China Construction Bank shares soar
China Construction Bank, which has traded in Hong Kong since October 2005, rose as much as 40% on its first day of trading in Shanghai in the world’s second-largest share sale this year, reports Bloomberg.
China Construction Bank launches $7bn IPO
China Construction Bank said Tuesday it was launching an IPO of shares that is expected to be China’s biggest, raising more than $7bn, reports Reuters. The country’s second biggest bank said it was starting consultations with institutional investors on pricing the offer in Shanghai of up to 9bn new A shares,
Subprime danger limited – but what about Chinese stock market exposure?
A slew of reassuring headlines appeared on Tuesday, arguing that China exposure to the dreaded US subprime mortgage market was limited – or at least manageable.
Reuters reports an assistant central bank governor as saying that the country’s commercial banks had set aside adequate provisions for dealing with potential problems from their exposure,