SinoCast China Financial Watch articles from September 2006

SinoCast China Financial Watch archives from September 2006

Bank of America Applauded by Partner.
September 29, 2006... (From SinoCast China Financial Watch) BEIJING, October 02, SinoCast -- China Construction Bank and Bank of America release the latest results about their long- term cooperation. CCB's successful introduction of foreign capital has been...

HSBC Venture Gets Yuan License.
September 29, 2006... (From SinoCast China Financial Watch) SHANGHAI, October 02, SinoCast -- HSBC's joint venture in China, Ping An Bank, said Thursday that it had won regulatory approval to operate local-currency business, highlighting HSBC's dual strategy...

China Development Bank to Issue 30-year Debt.
September 29, 2006... (From SinoCast China Financial Watch) BEIJING, October 02, SinoCast -- China Development Bank, a state-owned policy lender that funds public works, announced it is scheduled to issue CNY 17 billion worth of 30-year fixed-rate financial...

Shenzhen Selects 259 Potential IPOs.
September 29, 2006... (From SinoCast China Financial Watch) SHENZHEN, October 02, SinoCast -- Shenzhen Stock Exchange, one of China's two equity bourses, has decided to help 259 companies to launch the initial public offerings at its SME board which has...

Volvo CE Enters Shandong Deal.
September 29, 2006... (From SinoCast China Financial Watch) SHANDONG, October 02, SinoCast -- Volvo Construction Equipment (Volvo CE) announced that it is to acquire a controlling stake in a construction machinery manufacturer in Shandong, an eastern coastal...

Allianz Plans Investing More in China.
September 29, 2006... (From SinoCast China Financial Watch) SHANGHAI, October 02, SinoCast -- Allianz China Life Insurance, a Sino-Germany joint venture, is expecting to add at least CNY 100 million into the registered capital by end of this year, said CEO,...

Societe Generale Defends China Bid.
September 28, 2006... (From SinoCast China Financial Watch) GUANGDONG, September 29, SinoCast -- The France's banking group has no motive to have a controlling say in Guangdong Development Bank, a major player in southern China, clarifies a source close to...

Schroders to Sell New Fund in China.
September 28, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 29, SinoCast -- An asset management company under the aegis of both Bank of Communications (3328.HK) and Schroders of the UK is to hit the market its third equity fund product, on...

Zijin Mining in Australia Deal.
September 28, 2006... (From SinoCast China Financial Watch) HONG KONG, September 29, SinoCast -- Zijin Mining Group Co. (2899.HK), China's largest gold maker by output, agreed to acquire a 10 percent stake in Allied Gold Limited, an Australia incorporated...

ExxonMobil Adds Ante in China.
September 28, 2006... (From SinoCast China Financial Watch) BEIJING, September 29, SinoCast -- Exxon Mobil Corporation is seeking for a bigger role at the lubricant oil market in China, Asia's second biggest economy. The US energy giant plans to open 100 new...

Citigroup Targets Shanghai Office Property.
September 28, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 29, SinoCast -- Citigroup is ready to pour as much as USD 65 million for buying four office buildings on Daning International Commercial Plaza, the largest retail property project...

China Annuity Program Progresses Well.
September 28, 2006... (From SinoCast China Financial Watch) BEIJING, September 29, SinoCast -- An official at China's labor ministry said more than 24,000 enterprises had participated in the corporate annuity program as of December 31, 2005. The number of...

Shanghai Becoming Credit Card Hub.
September 27, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 28, SinoCast -- More and more commercial banks in China, with the latest being Agricultural Bank of China, decide to set up their independent credit card centers in the country's...

BoCom Says No A-Share Timetable.
September 27, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 28, SinoCast -- Bank of Communications, China's fifth largest by assets, refuses an immediate plan of listing on the Chinese mainland stock market according to its newly appointed...

QFIIs Earn CNY20bn in China.
September 27, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 28, SinoCast -- Dozens of qualifed foreign institutional investors in recent three years reaped a combined return of about CNY 20 billion from China. The QFIIs since 2003 have...

CBRE Adjusts China Strategy.
September 27, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 28, SinoCast -- CB Richard Ellis, a global premier full-service real estate services provider, is adjusting its China business strategy amid the country's tightening macro control...

Deutsche Borse Targets China IPOs.
September 27, 2006... (From SinoCast China Financial Watch) BEIJING, September 28, SinoCast -- Deutsche Borse Group is expecting to welcome the first IPO from China, the world's fastest growing economy, reports said. The German bourse is now in talks with...

AIG Eyes Full Expansion in China.
September 27, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 28, SinoCast -- American International Group, the world's leader in insurance and financial services, expects to introduce a broad array of financial services into China to meet...

Fortis Joins Hands with Shenergy Group.
September 26, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 27, SinoCast -- In a move to boost presence in China, Europe's leading financial group Fortis agrees with Shanghai's Shenergy Group to set up a finance company. Together with...

Credit Guarantee Industry Star Looms.
September 26, 2006... (From SinoCast China Financial Watch) BEIJING, September 27, SinoCast -- China National Investment & Guaranty Co., Ltd. is destined to become the bellwether in the domestic guarantee business following a capital build-out, said sources....

Mega Banks Eye Insurance Licenses.
September 26, 2006... (From SinoCast China Financial Watch) BEIJING, September 27, SinoCast -- Faced with fiercer foreign competition, China's five largest commercial banks have all showed interests in selling their own-brand insurance products, although they...

Yanjing Beer Says No to Heineken.
September 26, 2006... (From SinoCast China Financial Watch) BEIJING, September 27, SinoCast -- Beijing Yanjing Brewery Co. (000729.SZ) rejects a rumor that it is to sell a strategic stake to Heineken NV, a Dutch-based prominent beer brand. After smooth...

Sinochem Targets Fuel Ethanol Deal.
September 26, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 27, SinoCast -- Sinochem International Corporation (600500.SH), a comprehensive group engaged in rubber, plastics, chemical products & logistics and transportation operations, is...

Tokio Marine & Nichido Fire Fined in China.
September 26, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 27, SinoCast -- Tokio Marine & Nichido Fire Insurance Co., Ltd. was fined as much as CNY 90,000 by China's insurance regulator for engaging in unlicensed services. Its Beijing...

GM Leads China Auto Financing Market.
September 25, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 26, SinoCast -- GMAC-SAIC Auto Finance Co., Ltd., a joint venture between Shanghai Automotive Industry Corp. and General Motors, said its retail auto credit business soared 71.3...

China No.1 Industry Fund Fares Smoothly.
September 25, 2006... (From SinoCast China Financial Watch) TIANJIN, September 26, SinoCast -- Bohai Fund, the first industry fund sponsored solely by Chinese companies, has been in smooth preparation but not hit a policy wall as rumors said, according to Dai...

About $4b Deal May Occur for Bank Bailout.
September 25, 2006... (From SinoCast China Financial Watch) GUANGDONG, September 26, SinoCast -- The government of Guangdong Province is planning to unload part of its holdings in China Southern Power Grid Co, a Global 500 company, with the cash raised going...

Nasdaq Vies for China Pie.
September 25, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 26, SinoCast -- Nasdaq Stock Market, Inc. is showing the olive branch to Chinese companies, encouraged by its home rival the New York Stock Exchange who has welcomed several IPOs...

Shell Gets China Lubricants Deal.
September 25, 2006... (From SinoCast China Financial Watch) BEIJING, September 26, SinoCast -- Global energy giant Royal Dutch Shell announces that it has acquired a majority stake in China's largest private lubricant oil producer. It acquired a 75 percent...

Liberty Mutual to Have China Subsidiary.
September 25, 2006... (From SinoCast China Financial Watch) CHONGQING, September 26, SinoCast -- Liberty Mutual Insurance, a global leading property and casualty mutual insurer, is expected to upgrade its Chongqing branch into a full subsidiary by end of this...

Merchants Bank Stock in Strong Debut.
September 22, 2006... (From SinoCast China Financial Watch) HONG KONG, September 25, SinoCast -- China's best retail bank posts a 24.9% rise in stock price in the first trading day far exceeding analyst estimates. China Merchants Bank on Friday closed at HKD...

HSBC Expands in Beijing Market.
September 22, 2006... (From SinoCast China Financial Watch) BEIJING, September 25, SinoCast -- Regulators in China's capital city vow to offer better and timelier business guidance and technical guarantee to foreign-funded banks, and HSBC Group could be one...

Global Investors Hiring Local Advisers.
September 22, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 25, SinoCast -- Several foreign investors, who have won the QFII (Qualified Foreign Institutional Investor) licenses, are inviting their local fund joint ventures as investment...

Luxottica to Reshuffle China Business.
September 22, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 25, SinoCast -- Global eyewear leader Luxottica has turned profit in the China market after entering into it for just seven months, and plans to reshuffle the business structure...

China Economy Hotel Chain Close to NASDAQ.
September 22, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 25, SinoCast -- Home Inn, a leading economy hotel chain in China, is expecting to list on NASDAQ in the fourth quarter, said Mr. Sun Jian, Chief Executive Officer. Home Inn is...

Allianz, AIG Boost Expansion in China.
September 22, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 25, SinoCast -- Allianz China Life Insurance Co., Ltd.and American International Assurance Company are making more efforts to boost their businesses in China. Allianz China Life, a...

Goldman Sachs to Arrange Ningbo Bank IPO.
September 21, 2006... (From SinoCast China Financial Watch) ZHEJIANG, September 22, SinoCast -- The midsize Ningbo Commercial Bank is preparing for an initial pubic offering at the local equity market, it announced recently. The bank has invited Goldman Sachs...

Norway Bank Enters Shanghai's Bund.
September 21, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 22, SinoCast -- For DnB NOR, this northern Europe lender, it is a passport to a 1.3 billion population market, and for this city, it is another step toward the goal as a...

China Merchants Marked by S'pore Warrant Issuers.
September 21, 2006... (From SinoCast China Financial Watch) SHENZHEN, September 22, SinoCast -- Up to 14 warrants based on the stock of China Merchants Bank are scheduled to be issued at the Singapore Exchange on Friday, the same day the Chinese mainland bank...

Nine Dragons Paper Net Soars 353%.
September 21, 2006... (From SinoCast China Financial Watch) HONG KONG, September 22, SinoCast -- Nine Dragons Paper (Holdings) Limited (2689.HK), a top paper manufacturer and vendor in mainland China, said net profit for the year ended June 30, 2006 soared 353...

Sasol Adding Ante in China.
September 21, 2006... (From SinoCast China Financial Watch) BEIJING, September 22, SinoCast -- Sasol, the global leader in producing fuel from coal who participates in China's two coal-to-oil conversion projects, is eying a bigger slice at the potentially big...

MetLife Gains License in Liaoning.
September 21, 2006... (From SinoCast China Financial Watch) BEIJING, September 22, SinoCast -- Sino-U.S. MetLife, a 50/50 joint venture between Metropolitan Life Insurance in the United States and Beijing's Capital Airports Holding Company, said it received...

JPMorgan Linked to $500m China Property Deal.
September 20, 2006... (From SinoCast China Financial Watch) NANJING, September 21, SinoCast -- JPMorgan Chase & Co intends to acquire Nanjing International Center, a top-grade complex with total investment of CNY 4 billion in Nanjing city, Jiangsu province,...

Foreigners See Gold in B Shares.
September 20, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 21, SinoCast -- Key indexes of China's moribund B-share market posted gravity-denying rises on Monday as foreign investors are rushing for buy orders on believe that the market...

Frankfurt Stock Exchange Targets China IPOs.
September 20, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 21, SinoCast -- Frankfurt Stock Exchange (FWB) plans to welcome Chinese companies, on the heels of several global top bourses. It is to sign a strategic partnership agreement on...

Arcelor Awaits OK for China Steel Deal.
September 20, 2006... (From SinoCast China Financial Watch) SHANDONG, September 21, SinoCast -- Global steel producer Arcelor is waiting for the regulatory nod to acquire a minority stake in Laiwu Steel Corporation (600102.SH), the latter said. The...

Marsh Vows to Enter West China.
September 20, 2006... (From SinoCast China Financial Watch) CHENGDU, September 21, SinoCast -- Marsh Insurance & Risk Management Consultant Ltd., the China subsidiary of Marsh, plans to branch out into Chengdu city, Sichuan province, paving the way for...

Race for Insurer's Over $3b IPO.
September 20, 2006... (From SinoCast China Financial Watch) SHENZHEN, September 21, SinoCast -- The coming A-share listing of Ping An Insurance (Group) is viewed a fat deal by top investment banks, including a local joint venture of Goldman Sachs. Ping An,...

Exotic Bank Profits from Derivatives License.
September 19, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 20, SinoCast -- In the first half of 2006, foreign-funded banks in Shanghai, the commercial capital of China, posted a combined USD 5.442 million in income from financial...

Zijin Mining Wins $1.2b Credit Line.
September 19, 2006... (From SinoCast China Financial Watch) FUJIAN, September 20, SinoCast -- China's largest gold maker by output just won a CNY 9.6 billion renminbi loan support from China Development Bank, one of the country's three policy lenders, to...

ADB Plans to Pour $3b in China.
September 19, 2006... (From SinoCast China Financial Watch) BEIJING, September 20, SinoCast -- Asian Development Bank, which is dedicated to reducing poverty in Asia and Pacific, plans to offer China with as much as USD 1.5 billion loans every year in 2007 and...

American Express Eying Bigger Role in China.
September 19, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 20, SinoCast -- The global biggest travel management company American Express is seeking for a bigger role in China, told a senior executive in a recent interview. The US giant saw...

Shui On Land to Relaunch IPO.
September 19, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 20, SinoCast -- Shui On Land Limited, a Shanghai-based real estate developer, is to relaunch the initial public offering in Hong Kong next week, according to the company's...

CNPC, Assicurazioni Generali to Form Insurance JV.
September 19, 2006... (From SinoCast China Financial Watch) BEIJING, September 20, SinoCast -- China National Petroleum Corporation, the country's largest oil producer, and Italy's Assicurazioni Generali S.p.A. are on the verge of forming a joint venture to...

Profits Inch Up at China Listed Banks.
September 18, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 19, SinoCast -- The eight publicly traded Chinese banks post net profits of CNY 55.6 billion combined for the first half of 2006, representing a slight rise of 1.5% year over year,...

Bank, Wal-Mart Join Hands on Credit Card.
September 18, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 19, SinoCast -- Wal-Mart announces the plan of issuing its first credit cards in China based on an alliance with Bank of Communications (3328.HK), who is partly owned by...

China Wooing Global Capital.
September 18, 2006... (From SinoCast China Financial Watch) BEIJING, September 19, SinoCast -- Regulators on Friday said they issued three new licenses under the trial program of QFIIs (qualified foreign institutional investors), who can thus invest freely at...

Fund JVs Boost Investment Ability.
September 18, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 19, SinoCast -- Fund management joint ventures post sizzling performances in China with a recovering stock market. In the country's top ten fund company list by investment...

Unilever Targets China Washing Powder Brand.
September 18, 2006... (From SinoCast China Financial Watch) SHANXI, September 19, SinoCast -- Unilever does not rule out the possibility of acquiring a washing powder brand in China to expand its product portfolio. The company reportedly plans to acquire the...

Munich Re, PICC Holding Reach Strategic Alliance.
September 18, 2006... (From SinoCast China Financial Watch) BEIJING, September 19, SinoCast -- Munich Reinsurance Group, one of the world's largest reinsurers, has entered into overall strategic alliance with PICC Holding to further expand its scope in China....

ADB Supports China Microcredit Firm.
September 15, 2006... (From SinoCast China Financial Watch) GUIZHOU, September 18, SinoCast -- Asian Development Bank agrees to provide technical support to a newly established microcredit institution in Jiangkou County, Guizhou Province as part of efforts to...

HSBC Eyes China IPO within 5 Yrs.
September 15, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 18, SinoCast -- Peter Wong at The Hongkong and Shanghai Banking Corporation Limited says it hopes to get listed at the mainland A-share market, a plan mirroring foreign banks'...

US Fund Pours $50m in China TCM Sector.
September 15, 2006... (From SinoCast China Financial Watch) BEIJING, September 18, SinoCast -- American World Trade Fund has agreed to partner with a Chinese pharmaceutical company to tap the rising demands of traditional Chinese medicine (TCM). It is to pour...

UBS Catches Last China Bus.
September 15, 2006... (From SinoCast China Financial Watch) BEIJING, September 18, SinoCast -- Because regulators say they will not approve foreign capital to buy shares of local securities firms in the near future, UBS, the Swiss group, is laughing at last in...

China Stock Index Likely to Soar.
September 15, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 18, SinoCast -- China's stock market is gaining more confidence from institutional investors, according to a survey conducted by Shenyin Wanguo Research and Consulting Co....

Wine Titan H1 Net Dives on Cost.
September 15, 2006... (From SinoCast China Financial Watch) HONG KONG, September 18, SinoCast -- China's industry heavyweight Dynasty Fine Wines Group Limited (0828.HK) said net profit for the six months ended June 30, 2006 declined 29.6 percent to HKD 82.302...

China New Policy Beats Real Estate Trusts.
September 14, 2006... (From SinoCast China Financial Watch) BEIJING, September 15, SinoCast -- The latest circular of China Banking Regulatory Commission on strengthening supervision on real estate loans sharply cooled real estate trust (RET) products in...

Rumor of Citigroup Winning China Bid Irresponsible.
September 14, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 15, SinoCast -- A local report cites a source as saying that once who wins the takeover bid for the ailing Guangdong Development Bank, the government will be the first to issue the...

HK Buyers Applaud Bank's $2.5b IPO.
September 14, 2006... (From SinoCast China Financial Watch) HONG KONG, September 15, SinoCast -- China Merchants Bank is expected to be the most populous of mainland banking stocks in the island city although its size of initial public offering is not the...

AIG-Huatai OK'd to Double Capital.
September 14, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 15, SinoCast -- AIG-Huatai Fund Management, partly owned by AIG Global Investment Corp., has just won the government nod to lift the registered capital and also plans to enlarge...

Johnson & Johnson Bets on Medical Devices in China.
September 14, 2006... (From SinoCast China Financial Watch) BEIJING, September 15, SinoCast -- Johnson & Johnson will gradually shift its investment focus in China to medial devices from medical health care products, said Donnie Young, Vice President of...

Wal-Mart Aided by Simon Property in China.
September 14, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 15, SinoCast -- US top real estate and shopping mall developer Simon Property Group can help Wal-Mart to quicken up the retailing expansion pace in China, Asia's second biggest...

Bank Fixes CRO before Mega IPO.
September 13, 2006... (From SinoCast China Financial Watch) BEIJING, September 14, SinoCast -- Wei Guoxiong, former general manager of the credit management department, will work as chief credit officer of the Industrial and Commercial Bank of China, ahead of...

Morgan Stanley, Goldman Win More QFII Quota.
September 13, 2006... (From SinoCast China Financial Watch) BEIJING, September 14, SinoCast -- China has just granted investment quotas of USD 350 million combined to Morgan Stanley and Goldman Sachs, the two Wall Street heavyweights, under the trial program...

Herman Miller Ups Ante in China.
September 13, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 14, SinoCast -- World office furnishings leader Herman Miller just opened its Asian headquarters in Shanghai, China's economic hub. The US company said the move is expected to...

Sephora Quickens Expansion in China.
September 13, 2006... (From SinoCast China Financial Watch) BEIJING, September 14, SinoCast -- The leading European beauty retailer Sephora plans to move deeper into China following the opening of its seventh store in Beijing's China World Trade Center. Since...

China's Forex Reserve Set to Top $1trn in 1 Month.
September 13, 2006... (From SinoCast China Financial Watch) BEIJING, September 14, SinoCast -- Buoyed by goods export and capital inflow, the country's foreign exchange hoard, the world's largest, is poised to reach the one-trillion-dollar mark for the first...

Ping An Insurance, PICC Plan Mutual Fund Sale.
September 13, 2006... (From SinoCast China Financial Watch) BEIJING, September 14, SinoCast -- China's industry bellwethers Ping An Insurance (Group) Co (2318.HK) and PICC Property & Casualty Co., Ltd. (2328.HK) have applied to regulators to set up fund...

China Factor in Global Banking.
September 12, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 13, SinoCast -- At the yearend of 2006 three out of the global top 10 listed banks can be from China and that will be second only to the United States, as investors rush to buy a...

Everbright Bank Seeking State Bailout.
September 12, 2006... (From SinoCast China Financial Watch) BEIJING, September 13, SinoCast -- A package of capital increase plans, including governmental injection, have emerged for China Everbright Bank according to a senior executive. The move comes as the...

Yanjing Brewery Denies An InBev Link.
September 12, 2006... (From SinoCast China Financial Watch) BEIJING, September 13, SinoCast -- China's industry bellwether Beijing Yanjing Brewery Co. (000729.SZ) rejects a rumor that it is to sell a strategic stake to InBev, the world's biggest brewery by...

LSE Woos China SMEs.
September 12, 2006... (From SinoCast China Financial Watch) SHANGHAI, September 13, SinoCast -- London Stock Exchange, the largest bourse in Europe, is showing the olive branch to Chinese companies, especially small and medium enterprises (SMEs). Compared...

Ogilvy China Announces Advt Deal.
September 12, 2006... (From SinoCast China Financial Watch) SHENZHEN, September 13, SinoCast -- Ogilvy China has agreed to acquire Shenzhen-based Black Arc Advertising, a top agency focused on real estate-related ad, to seek a considerable share of the...

China Re Plans '07 IPO.
September 12, 2006... (From SinoCast China Financial Watch) BEIJING, September 13, SinoCast -- China Reinsurance (Group) Company, the nation's sole state reinsurer, plans to launch an initial public offering next year to raise tens of billions of yuan, said...