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Macao's Forex Reserves Reach $23.92 Bln in January

The preliminary estimate of the Macao SAR's foreign exchange reserves amounted to 192 billion patacas (23.92 billion U.S. dollars) at the end of January 2011, according to the figures released on Tuesday by the Monetary Authority of Macao. The reserves for January rose by 0.9 ...

ABAC: Chinese Economy Expects Strong Growth due to Increased Inflation Pressure

According to an economic outlook report from an Asia Pacific Economic Cooperation (APEC) business advisory body, China's economy is expected to remain strong in 2011, but inflationary pressures are likely to rise further due to rising food prices. According to the report, Chinese ...

China's Central Bank Customizes Reserve Requirement Ratios for 40 Local Banks

The People's Bank of China (PBOC), or the central bank, said on Tuesday that it has implemented "dynamically differentiated required reserve ratios" among 40 local banks with low capital adequacy ratios (CAR) and which witnessed rampant growth in lending since January. A PBOC ...

China Sees Sharp Rise in Funds Outstanding for Foreign Exchange in January

China' s funds outstanding for foreign exchange (FOFE) rose to 23.08 trillion yuan (3.51 trillion U.S. dollars) at the end of January, up 24.39 percent or 501.65 billion yuan from December, according to the People's Bank of China, or the central bank, on Wednesday. This meant ...

SAFE Vows to Deepen Reform on China's Capital Account Forex Management

China's foreign exchange regulator said Tuesday it would continue to reform its management of foreign exchange in capital account and facilitate steps towards a convertible renminbi (RMB) under capital account this year. In a short statement on its website, the State Administrati...

China Reports $7.3 Bln Trade Deficit in February

China recorded a trade deficit of 7.3 billion U.S. dollars in February as the Lunar New Year holiday season dented exports, the General Administration of Customs (GAC) said Thursday. This is China's second monthly trade deficit in a year, after the country announced a deficit of ...

China Central Bank Further Tightens Liquidity to Control Inflation Expectation

he People's Bank of China (PBOC), China's central bank, stepped up efforts this week to tighten excessive liquidity stemming from Chinese banks, as capital on the money market remains abundant throughout the country. In its open market operations on Thursday, PBOC auctioned 47 ...

Heightened Inflation a Concern in China

Spreading reports of price hikes for everyday products such as instant noodles, soap and shampoo have sprung up in newspapers across China, exacerbating concerns regarding ongoing inflation in the world's second largest economy. In reports released earlier this month, unidentifie...

ICBC Announces 2006 Performance

April 3 2007, Beijing - Industrial and Commercial Bank of China Limited ("ICBC", stock ticker code: SH: 601398 HK: 1398) announced today the overall performance for year 2006. This is the first annual performance announcement since ICBC's simultaneous listing of A-share in China ...

ICBC Enhances Trade Financial Services, Supporting the Development of Foreign Trade Enterprises

Since the beginning of this year, ICBC has implemented the decision of central government to stabilize the import and export growth, providing strong financial support to foreign trade enterprises in conducting import and export business. In the first quarter, ICBC's domestic ...

With the Wind Blowing in favor of International Trade, It is Time to Set Sails and Go Globally

It is not difficult to find ICBC in the Indonesian capital of Jakarta. You can stop any taxi and tell the driver you are heading to "ICBC Tower", he will take you directly to your destination. The magnificent building of ICBC, located in downtown Jakarta, has already become a ...

ICBC Opens the First Letter of Credit in RMB for Cross-Border Trade

On July 3rd 2009, the Indonesian branch of ICBC opened the first time L/C in RMB worth RMB 372 thousand in favor of an export enterprise in China for PT.INDOTRUCK UTAMA in Indonesia, which is the first letter of credit in RMB for cross-border trade, and also indicates that ICBC ...

ICBC's Cross-border Trade RMB Settlement Business A Hit at Market

It is reported that, after ICBC issued the first RMB Letter of Credit for a cross-border trade in the world on July 3, ICBC's cross-border trade RMB settlement business is also popular in a number of foreign trade enterprises domestically. Only in 2 days from July 6 to July 7, ...

ICBC Platinum Card Cup Golf VIP Invitational Tournament Begins Ceremoniously

In order to celebrate the 20th anniversary of the issuance of ICBC's Peony Credit Card, boost comprehensive marketing and service update of Peony Credit Card, and return new and existing high-end consumers with better services, "Appreciation and Review for Peony Blooming in 20 ...

The World's First Renminbi Export Buyer's Credit Business Settled in ICBC

August 12 ICBC, Huawei and its Indonesia partner today officially signed in Beijing, the total amount of financing up to 2 billion yuan in the framework of the memorandum, and the first RMB export buyer's credit agreement under the framework. As of today, this is the first export ...

CCB Service Manual No.3

CCB Service Manual No.3 Published time 2010-03-19 1 Q My foreign-currency card is a composite card with both chip and magnetic stripe. Is it accepted by your ATM? A: Currently, magnetic stripe card is accepted by CCB ATM, but only-chip card is not accepted for the moment. For ...

ICBC Starts A-Share and H-Share Rights Issue

In an announcement, ICBC (Stock code: 601398) started the rights issue of A shares and H shares. ICBC will allocate 0.45 shares per 10 shares to all shareholders to subscribe. The allocation ratio is the same for A shares and H shares. ICBC is offering 11,293,305,662 A shares at ...

ICBC Receives High Appreciation from Asian Sports Organization Official on the Asian Games Services

On the afternoon of November 19, an ICBC outlet in the Asian Games Town welcomed a respectful guest Mr. Kim Hae-Jin, the Secretary-General of Asian Associated Wrestling Committee. This official from the Asian sports organization was totally impressed by the excellent services ...

ICBC Registers over RMB 150 Billion in Cross-Border RMB Business

Being the largest RMB business bank in the world, ICBC is stepping up the efforts to expand its cross-border RMB business and extend its strong RMB services overseas. In less than two years from the pilot since July, 2009 to end of January this year, ICBC has handled cross-border ...

ICBC Puts up the First Independently-Developed Market Risk Management System in China

Earlier, ICBC announced the successful implementation of its independently developed global market risk management system in the Bank. The system, the first in the country independently developed by a Chinese bank and successfully implemented, marks the beginning of other banks ...
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