Shanghai Stock Exchange to introduce stock options this year
“T+0” mechanism currently being researched
Banking
China likely to allow foreign banks to sell domestic fund products
The possible policy adjustment will add to the diversification of sellers of domestic funds
Bank card fee cut comes into effect today
The cut of card fees in catering and entertainment sector reaches as high as 37.5 pct
3.5 bln bank cards issued as of the end of 2012
Recipients carrying 3.49 tln yuan of credit
“Big 4” banks expect 370 bln yuan in new loans in January
January’s new loan business marked by two specific controls
Banking assets and debts total 131 tln and 122 tln yuan
Up by 17.7 pct YoY and 17.5 pct YoY respectively in 2012
Qianhai cross-border RMB business underway
15 banks lending 2 bln yuan to 15 Qianhai-registered firms
Goldman Sachs raises $1 bln from fifth sale of ICBC share
Overseas investors may have low hopes for Chinese banks due to shadow banking risks
ICBC’s cross-border RMB business revenue over 1.5 tln in 2012
Up by 70 pct YoY
8-10 banks likely first participate in Qianhai cross-border RMB loan business
The list of participants will be announced on Jan. 28
CITIC Bank cooperating with Tenpay to serve small e-commerce sellers
Partners have a plan to trade goodwill for collateral
CBRC first emphasizes “minimizing financial risks”
CBRC set working targets for 2013
Banks likely suffer 10 pct drop in profit from 2012 to 2013
Profit growth expected at 8 pct in 2013, says central bank official
Chinese banks assess coming challenges in 2013
Asset quality declining in short term and profit growth slowing in mid- to long-term
China Development Bank stops loan to Charoen Pokphand to buy Ping An
Deal red-flagged when unclear “Mingtian System” capital noticed
Interest rate marketization roadmap put forward by central bank official
Deposit rate upper-limit likely cancelled