Biggest Bank in China Planning an I.P.O.
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The sale of shares by the Industrial and Commercial Bank of China as part of an I.P.O. could set a record by raising a project $19 billion.
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Chinese regulators expect Citigroup  , HSBC Holdings (0005.HK) and two others to become  the first foreign banks to issue local-currency debit cards to  consumers in the world&#39;s fourth-largest economy, a senior  banking regulator said on Thursday.
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HSBC Holdings, the European bank, said it would buy part of an office tower in Shanghai to house its China headquarters as it speeds up expansion in China. HSBC agreed to buy naming rights and occupy 20 floors of one of the twin towers of the Shanghai International Finance Center, to be completed by 2010, from Sun Hung Kai Properties, HSBC said in a statement to the Hong Kong Stock Exchange. The tower, a few blocks from the bankâs current headquarters, would be renamed HSBC Building-Shanghai IFC. Stephen K. Green, the chairman of HSBC, disclosed the deal at a news conference in Shanghai, but he declined to say how much the bank had agreed to pay.
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MELBOURNE (Dow Jones)--Commonwealth Bank of Australia (CBA.AU) may acquire up to 20% of mid-sized Chinese bank Jinan City Commercial Bank to secure a foothold in China&#39;s growing finance services sector.
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idril writes &quot;According to The New York Times (free registration required), China&#39;s largest PC maker is reportedly in talks to buy IBM&#39;s PC business.
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Industrial and Commercial Bank of China  plans to raise as much as US$19 billion in what would be the world's largest share sale, valuing the country's top lender at a discount to its largest rivals, a source familiar with the deal said on Sunday.
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Chinese regulators expect Citigroup , HSBC Holdings  and two others to become the first foreign banks to issue local-currency debit cards to consumers in the world's fourth-largest economy, a senior banking regulator said on Thursday.
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HSBC Holdings , Europe's biggest  bank, is acquiring The Chinese Bank Co. in Taiwan and will  provide it with additional capital of between $300 million and  $400 million, it said on Friday.
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Commonwealth Bank of Australia said it may buy 11 percent of Jinan City Commercial Bank, the first such purchase by an Australian lender in China, the fastest- growing among the world&#39;s 20 biggest economies.
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China's banking industry officially opens to full foreign competition on Monday, a landmark for the country's financial sector and a day of reckoning for the country's mostly state-owned banks.
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BEIJING China on Wednesday opened its ancient capital of Xi&#39;an and an industrial city in the northeast to overseas banks, a year earlier than planned, as it eases restrictions on their expansion.
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The financial giant is in talks to sell a stake to a Chinese bank and other investors, people briefed on the plan said.
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Wall Street bank JPMorgan  said  on Monday it had won final approval to set up a wholly owned  unit in China to strengthen its wholesale banking business in  the world&#39;s fastest growing major economy.
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HSBC Holdings , Europe's biggest bank, said on Wednesday it will open an insurance business in Taiwan as it aims to tap into the fourth-biggest insurance market in Asia.
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Officials are examining new steps to cool off China's sizzling economy as its top planning agency called for tighter bank credit and curbs on construction, state media reported.
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Industrial and Commercial Bank of  China  plans to raise as much as US$19 billion in what  would be the world's largest share sale, valuing the country's  top lender at a discount to its largest rivals, a source  familiar with the deal said on Sunday.
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Shanghai Automotive Industry Corporation, China's largest carmaker, is consolidating its assets into a new company as it considers listing its shares abroad.