The company has also secured an option to operate as a commercial bank in China, an executive told Reuters.
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It is by all relevant measures the largest bank in China and the Chinese banking market is even hotter than the country's economy.
The main issue was a virtual collapse of net interest margins despite having a retail deposit franchise advantage over virtually every other bank in China.
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The profit at the Chinese unit of HSBC Holdings PLC, the largest foreign bank in China with more than 130 outlets, rose to 3.42 billion yuan in 2011, almost four times that of the previous year, after rising 28% in 2010.
Only 12m of the 880m bank cards in China are genuine credit cards.
However, both the empirical and anecdotal evidence clearly suggests that 2011 will be a particularly difficult year for all companies to access bank credit in China.
About a third of the bank loans in China are now for real estate, or are backed by real estate, roughly similar to U.S. levels in 2007.
Raising equity at that valuation is out of the question, and with conventional bank loans in China having a maximum term of one year, Tri-Tech turned to the bond market, a new source of capital in China, to obtain longer term financing.
Abandoned by the former Harrah's Entertainment Inc. in 2008, Baha Mar last year found a new financial backer in the Export-Import Bank of China and a builder in China State Construction Engineering Corp.
In 2008 CMB became the first bank to obtain a license to operate in New York since Bank of China entered the market in 1981.
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Yin's Chongqin Lifan Industry Group is already the number three investor in the Chongqing City Commercial Bank, headquartered in China's motorcycle manufacturing hub, but he's looking to put more money into the industry.
Last year, the Royal Bank of Scotland Group took a 10% stake in Bank of China , while Bank of America struck an agreement to acquire up to 19.9% of China Construction Bank.
Last year, the Royal Bank of Scotland Group took a 10% stake in Bank of China , while Bank of America (nyse: BAC - news - people ) struck an agreement to acquire up to 19.9% of China Construction Bank.
In fairness, we should note that a couple of big bank holdings in most China ETFs did well last quarter.
As an international banking expert, a rarity in China, he was also invited to be an independent director of the Bank of China in Hong Kong.
The Fed also granted approval to Agricultural Bank of China Ltd. to build a branch in New York City, and to Bank of China Ltd. to build a branch in Chicago.
The H-shares of Bank of China in Hong Kong rose 0.5% to 3.71 Hong Kong dollars (48 cents).
But Uriminzokkiri, a North Korea-affiliated Web site run from a bank in Shenyang, China gives the regime a web presence.
PLC, for instance, both sold their stakes in Bank of China Ltd.
Adding to concerns was a weekend increase from the Peoples Bank of China in the reserve requirements it sets across the banking system.
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Although he took the entire sector to task, Chanos highlighted Agricultural Bank of China in particular, because of the amount of debt it carries.
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On December 10th, Wang Xuebing, the former head of Bank of China in Hong Kong (the listed arm of one of the mainland's big four state-owned banks) was jailed for 12 years for graft.
Friday, branches of the Bank of China and the China Industrial and Commercial Bank in the border city of Dandong told NPR that they had suspended all financial transactions between North Korea and China since the nuclear test.
She also likes China Construction Bank, traded in Hong Kong, and China Unicom (CHU) because it is the only wireless provider serving Apple products.
China Construction Bank jumped 2.6% in Hong Kong and Industrial and Commercial Bank of China ended up 2.7%.
Bank of America is expected to follow suit by unloading its 10. 6 percent shares in China Construction Bank by the end of August.
Through good relations established between her bank and its counterpart in China, direct renminbi-ringgit exchange was opened in August.
The currency is closely monitored by the Central Bank of China and in the spot market, is allowed to rise or fall by 1 percent from the set parity rate each trading day.
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