Home Business Politics Life Culture��Edu Sci��Tech Sports Photos
��Search
China Observer
�� Migrant workers face love and marriage dilemmas
Photos
�� Nicole Kidman in Shanghai
�� National Water Lily Exhibition in Hangzhou
�� Quanzhou set up first emergency shelter
��Home>>China Observer
Chinese banks' listing parades: Good or bad?
www.chinanews.cn 2006-06-20 09:44:11
Hong Kong is still the first choice for banks in the Chinese mainland to
be listed abroad.
Chinanews, Jun.19 - Beginning in 2005, Chinese banks chose to consider
mergers and went to stock markets. These activities reached a climax when
the Bank of China was listed in the Hong Kong Stock Exchange. But this
was only one of the latest activities that Chinese banks went in for on
the stock market.
The Bank of China, China Construction Bank (CCB), Huaxia Bank and Bank of
Beijing all found their investors abroad in 2005. In 2006, the Industrial
and Commercial Bank of China (ICBC) accomplished its merger case, with a
volume amounting to US $3.58 billion. After the Bank of Communications,
CCB and Bank of China were listed in the Hong Kong Stock Exchange, ICBC,
China Merchants Bank, China��s Industrial Bank, CITIC Industrial Bank and
the Commercial Bank of Nanjing also had their own plan to get listed in
the stock market this year. People feel hard to judge whether such
activities are good or not. Jing Ulrich, JP Morgan��s Hong Kong-based
managing director and chairman of its China equities business, told our
reporter that Hong Kong was still the first choice for banks in the
Chinese mainland to be listed abroad. The main reason was that Hong Kong
possessed huge amounts of circulating funds, which could attract
international investments easier.
Most people might believe they can gain more profits through such
activities, but experts considered them as a process punctuated with good
and bad news. Some analysts warned that less than half of Chinese banks
had reached 8% of capital adequacy rate. Moreover, these banks were still
involved in scandals, which made people suspect their abilities to
protect the investors from financial crisis.
In fact, Chinese banks are forced to participate in the stock market. The
managing director of JP Morgan Securities (Asia Pacific) Meng Liang said,
��The commercial competition has become more fierce after China joined
the World Trade Organization (WTO), forcing enterprises to improve their
core proficiencies to compete with others. As a result, many Chinese
banks have decided to get listed in the stock exchanges before the WTO
transition period for China ends.
��CITIC bank plans to launch IPO this year
��Central Bank Governor encourages Employee Stockholding
��Bank of China to start HK public offering
��Bank of China confirms US$3 billion IPO
Copyright� 2004 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.
Disclaimer: viewpoints in the website do not represent China News Service
Learn Chinese, Chinese Course, Learn mandarin, Learning Materials, Mandarin audio lessons, Chinese writing lessons, Chinese vocabulary lists, About chinese characters, News in Chinese, Go to China, Travel to China, Study in China, Teach in China, Dictionaries, Learn Chinese Painting, Your name in Chinese, Chinese calligraphy, Chinese songs, Chinese proverbs, Chinese poetry, Chinese tattoo, Beijing 2008 Olympics, Mandarin Phrasebook, Chinese editor, Pinyin editor, China Travel, Travel to Beijing, Travel to Tibet
No comments:
Post a Comment