Summary: The China Construction Bank (601939.SS/0939.HK) has posted a 4.1% increase in net profit to RMB 62.9 billion for the third quarter, according to caixin.com. Revenue increased 4.6% to RMB 506 billion during the same period. Why It Matters: The bank’s [ … ]
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Chinese Banks Are Promoting Home Equity Loans
Summary: Many Chinese banks, including China CITIC Bank (601998.SS) and the China Construction Bank (601939.SS/0939.HK), are actively promoting home equity loans, according to caixin.com. Such business is considered to be a high risk for banks. Why It Matters: Home equity loans enable house buyers to increase their [ … ]
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PBOC Provides RMB 500 Bln Standing Lending Facility to State-Owned Banks
Summary: The People’s Bank of China (PBOC) is providing an RMB 500 billion standing lending facility (SLF) to the five largest state-owned banks: Bank of China (601988.SS), Agricultural Bank of China (601288.SS), Bank of Communications (601328.SS), Industrial [ … ]
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CICC’s Report Suggests Big Four State-owned Banks Lowers Mortgage Interest in Shanghai
Summary: Big four Chinese State-owned Banks, namely, Bank of China (CH: 601988), Agricultural Bank of China (CH: 601288), Bank of Communications (CH: 601328), and China Construction Bank (CH: 601939), all lowered the mortgage interest rate in Shanghai, [ … ]
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PBOC Reportedly Injects RMB 300-500 Bln into the Financial System
Summary: According to wallstreet.cn, the People’s Bank of China reportedly injected RMB 300 to 500 billion into the financial system through re-lending to the China Development Bank and China Construction Bank (CH: 601939). RMB interest rate swaps moved [ … ]
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