Friday, March 5, 2010

03/05/10 China Banks [citibank capital markets] $ICBC

-China Eximbank not to seek listing - Export-Import Bank of China will not seek a listing but will remain a policy lender, the bank's chairman Li Ruogu told China Daily on Thursday. "We are still awaiting government approval for an injection of cash from Central Huijin that would enhance the bank's capital
adequacy," Li said when attending the annual session of the CPPCC. "Approval for Huijin to sell bonds to fund the cash injection and for other details of the plan hasn't been given yet." (China Daily)

- StanChart looking at 'sizable' listing in China - Standard Chartered, which is planning an initial share sale in India this year, is also intent on a "sizable" listing in the mainland, its head of Asian operations said yesterday. "We're equally engaged in dialogue in China," said Jaspal Bindra, Asia chief executive
for the bank. "It's just that India is more ready with its rules, so we're going there first." (The Standard)

- PBOC sees inflation staying reasonable - China's central bank can prevent inflation from spinning out of control this year and is also confident of easing inflation expectations, Su Ning, a deputy governor of the PBOC, said on Thursday. "From the measures we have taken, I feel we can control inflation at
a reasonable level this year," Su said at the Chinese People's Political Consultative Conference, a parliamentary advisory body. (China Daily)

- ICBC says little capital raising pressure – Yang Kaisheng, head of ICBC, said that his bank's current CAR ratio is above 11%, the highest among China banks, and thus has little pressure to raise capital. Mr. Yang also said that his bank will try to keep its payout ratio at 50% this year. (Hexun) Link
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- CBRC says no massive monetary contraction – Liu Minkang, head of the CBRC,
said that China will keep a stable and consistent monetary policy so as to
balance economic development, credit policy and inflation, and there will not
be massive monetary contraction in this year. He reiterated that banks should
prevent increasing credit risk in the property sector. (Hexun)

- PBOC keeps 3-month bill yield flat – The PBOC auctioned Rmb90bn 3-month
bills and Rmb49bn 91 day repo on Thursday. The 3-month bill yield stood at
1.4088% and repo yield was at 1.41%, both flat versus last week.

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