Bottom line: The refusal of many banks to follow a Beijing directive to support the sagging property market looks encouraging, and could show these state-run lenders are finally beginning to behave more commercially.
Banks break with policy-lending past
It appears I owe an apology to big Chinese state-run banks, after years of calling them policy lackeys of Beijing with very little commercial instinct. Just a day after criticizing top lender ICBC (HKEx: 1398; Shanghai: 601398) for making a blatantly political $4.3 billion infrastructure loan to Pakistan (previous post), a new report is saying a growing number of banks are defying a recent Beijing order to boost their mortgage lending to support the sagging domestic real estate market.
This kind of action certainly won’t please economic planners in Beijing, but it marks a huge step forward for the banks in their drive to become more commercial and earn some real respect from investors. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 22. To view a full article or story, click on the link next to the headline.
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Yum (NYSE: YUM) CEO Says China Business Mending, Sees Strong Year-End (English article)
ICBC (HKEx: 1398) To Provide $4.3 Bln In Financing For Pakistan Power Projects (English article)
Forbes Releases Wealthiest Chinese List, Internet “Big 3” BAT Chiefs In Top 10 (Chinese article)
The following press releases and media reports about Chinese companies were carried on April 21. To view a full article or story, click on the link next to the headline.
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The following press releases and media reports about Chinese companies were carried on April 17. To view a full article or story, click on the link next to the headline.
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SunPower (NYSE: SPWR), Apple (Nasdaq: AAPL) To Build Solar Projects In China (English article)
P2P Lending Site Lufax Completes $485 Mln Fund Raising Round (Chinese article)
China’s Former IPO King CICC Looks for A Fresh Start (English article)
Baidu (Nasdaq: BIDU) Unveils Self-developed DuWear Smartwatch OS (English article)
The following press releases and media reports about Chinese companies were carried on April 16. To view a full article or story, click on the link next to the headline.
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Legend Group Files For Hong Kong IPO, 2014 Profit Reaches 4.1 Bln Yuan (Chinese article)
Alibaba Injects $2.5 Bln Online Pharmacy Business Into Alibaba Health (HKEx: 241) (English article)
The following press releases and media reports about Chinese companies were carried on April 15. To view a full article or story, click on the link next to the headline.
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Ganji, 58.com (NYSE: WUBA) To Merge – Report (Chinese article)
The following press releases and media reports about Chinese companies were carried on April 14. To view a full article or story, click on the link next to the headline.
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The following press releases and media reports about Chinese companies were carried on April 13-15. To view a full article or story, click on the link next to the headline.
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Fake Apple (Nasdaq: AAPL) Watches Flood China As Order-Taking Begins (Chinese article)
Sina (Nasdaq: SINA) Faces Suspension Over Lack Of Censorship (English article)
Fake Xiaomi Products Show Up In Germany, Copiers Being Copied (Chinese article)
Color TV Sales Up 13 Pct In Q1, Online-Connected TV Sales Double (Chinese article)
Cloud Service Provider UCloud Wins $100 Mln Series C Funding (English article)
The following press releases and media reports about Chinese companies were carried on April 10. To view a full article or story, click on the link next to the headline.
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The following press releases and media reports about Chinese companies were carried on April 9. To view a full article or story, click on the link next to the headline.
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Eying Developers, Intel (Nasdaq: INTC) Launches 120 Mln Yuan China Incubator (Chinese article)
The following press releases and media reports about Chinese companies were carried on April 8. To view a full article or story, click on the link next to the headline.
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Baidu (Nasdaq: BIDU) Retreats on Chinese Private Hospital Advertising Boycott (English article)
Express Mobile Files Patent Infringement Claims Against Alibaba (NYSE: BABA) (PRNewswire)
BYD (HKEx: 1211) Announces Sale of Electronic Component Unit For 2.3 Bln Yuan (HKEx announcement)
