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Industrial and Commercial Bank of China

This tag is associated with 4 posts

Mega default on January 31 could devastate China’s banking system


On Friday, Chinese state media reported that China Credit Trust Co. warned investors that they may not be repaid when one of its wealth management products matures on January 31, the first day of the Year of the Horse. The Industrial and Commercial Bank of China sold the China Credit Trust product to its customers … Continue reading

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

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 new privatisation plan faces push-back risk


China‘s new push to open state controlled industries may look bold after a decade of stuttering privatisation progress, but Beijing faces stiff resistance from vested interests in its effort to extend its World Trade Organisation dividend. Beijing’s leaders, its top think-tanks, the World Bank and private sector economists all largely agree that for China to … Continue reading

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