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Industrial and Commercial Bank of China Ltd

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  • SINGAPORE/ LONDON, July 1- A decade after China kicked off a series of gold market reforms, plans to establish a yuan price fix mark one of Beijing's biggest step so far to capitalise on the country's position as the world's top producer and a leading consumer. While no immediate threat to the gold pricing dominance of London and New York, the benchmark could...

  • LONDON, June 29- China's banks are strengthening their position as the best capitalised and biggest profit makers in the world, a study showed on Monday. Industrial and Commercial Bank of China's $59.1 billion profit last year topped the rankings, ahead of China Construction Bank, Agricultral Bank of China and Bank of China. U.S. bank Wells Fargo ranked fifth with...

  • *Bank of China recently joined London benchmark. SHANGHAI, June 25- Industrial and Commercial Bank of China Ltd, the world's largest bank by assets, said it was interested in participating in the twice-daily London gold price benchmarking process. "ICBC is very keen on participating," Zhou Ming, general manager in the bank's precious metals department said at an...

  • BEIJING, June 24- China is to scrap the country's longstanding loan-to-deposit ratio requirement, the latest in a series of measures to reform the country's commercial banking sector and get more lending into a slowing economy. China's cabinet, the State Council, published its decision late on Wednesday, as part of a draft amendment to the country's 20-...

  • BEIJING, June 17- China's cabinet has allowed Bank of Communications to look into taking on more private shareholding as part of the government's push to reform state-owned lenders struggling with a spike in bad loans in a slowing economy. HSBC is the largest foreign shareholder in BoCom, with a 19 percent stake, but the plan also did not mention anything about...

  • BEIJING, June 17- China's cabinet has allowed Bank of Communications, the country's fifth-biggest lender, to introduce more private shareholding as part of Beijing's financial reforms to revitalize state-owned banks. BoCom was the first of China's big five state-owned lenders to start reforms under Beijing's two-year-long overhaul of its hugely...

  • CAIRO, June 15- Egypt has entered into an initial agreement with China over 15 projects worth about $10 billion, the Egyptian trade minister said on Monday. The minister did not name any specific companies involved but said that the Export-Import Bank of China would provide financing for six transport projects including building a new railroad and developing...

  • *HSBC plans to quadruple staff numbers. The station, 90 kilometres north of Hong Kong, is on the first open section of a super fast rail network in China's Pearl River Delta that HSBC is betting will turn the prosperous region of 40,000 square kilometres into a seamless metropolis that can fuel the bank's growth in the next decade. A visit to the area though shows up...

  • SHANGHAI, June 15- Senior executives of listed firms in China have stepped up the pace at which they are selling shares in their own companies, suggesting they may have doubts about whether their stock prices can go much higher. "It's a vote of confidence," said Hong Hao, chief strategist at Bank of Communications International. Between June 1 and June 3, Jia Yueting,...

  • HSBC is betting on China's Pearl River Delta for growth, but the region's patchy development underlines the risks in the bank's Asia "pivot" strategy.

  • *HSBC plans to quadruple staff numbers. The station, 90 kilometers north of Hong Kong, is on the first open section of a super fast rail network in China's Pearl River Delta that HSBC is betting will turn the prosperous region of 40,000 square kilometers into a seamless metropolis that can fuel the bank's growth in the next decade. A visit to the area though shows up...

  • *ICBC, CITIC Trust arguing over who is accountable. BEIJING, June 11- China's biggest state-owned bank and trust company are arguing over who should be held accountable after two high-yield trust products they were both involved in failed, leaving investors owed 500 million yuan. The product was scheduled to mature in March, but the ultimate borrower, mining and...

  • June 8- Hong Kong stocks edged up on Monday, led by mainland banking heavyweights on expectations that Beijing will step up reforms in the state sector. China's biggest banks, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank and Bank of Communications all ended the day firmer, on expectations...

  • China's Shanghai Composite index clinched fresh seven-year peaks on Monday, outperforming the region which has largely seen a mixed performance.

  • BEIJING/ HONG KONG, June 8- Five Chinese banks are set to issue interbank certificates of deposit to foreign financial institutions inside the Shanghai Free Trade Zone, the latest step of the city's financial reforms, four sources with direct knowledge of the matter told Reuters. Three of China's "Big Four" state-owned lenders, China's Industrial and Commercial...

  • BEIJING, June 8- Five Chinese banks are set to issue interbank certificates of deposit to foreign financial institutions inside the Shanghai Free Trade Zone, four sources with direct knowledge of the matter told Reuters. Three of China's "Big Four" state-owned lenders, China's Industrial and Commercial Bank of China Ltd, China Construction Bank Corp and Bank of...

  • Investors watch computer screens at a stock exchange hall in Fuyang, China.

    Shanghai shares hogged the spotlight on Friday, as the key Shanghai Composite index extended losses, while Japan was the "quiet achiever" for the day.

  • HANGZHOU, China, May 28- China Cinda Asset Management offered on Thursday nearly $7 billion in soured loans to investors in its largest ever sale, underscoring government pressure on banks and asset managers to settle China's debt pile as economic growth stalls. Its promotion comprised 35.3 billion yuan in outstanding principle and 8 billion yuan in interest...

  • SHANGHAI/ HONG KONG, May 25- When Chinese flight booking operator Baitour needed cash to grow its business last year, it opted against using Industrial and Commercial Bank of China, its long-term lender and the world's largest bank, turning instead to Internet finance startup Jimu Box. For Baitour, getting funds via Jimu Box, a peer-to-peer online platform that...

  • SHANGHAI, May 21- China could fully liberalise its interest rate regime as early as July and almost certainly by the year-end, according to money market traders gearing up for the change. "July is a window because it will be the second anniversary of China's liberalisation of its loan rates in July 2013," he said. But banks' response to the change was muted, with China's...