Industrial and Commercial Bank of China (ICBC) , , the world’s largest-listed lender by assets, reported a 10.65% rise in fourth-quarter net profit on Wednesday.
Monthly Archives For March 2022
China’s Mega Banks Deliver Profit Gains as Challenges Mount
Industrial & Commercial Bank of China Ltd. and Agricultural Bank of China Ltd. reported profit gains of more than 10% in 2021 in a recovery year following the outbreak of the pandemic, but now face…
Shanghai Covid: Traders sleep by their desks as China’s financial hub locks down
China’s banks and investment firms are calling on essential staff to live at the office this week to avoid any trading disruption during Shanghai’s massive Covid lockdown.
China Huarong Set to Appoint Citic Executive as New Chairman
China Huarong Asset Management Co. is set to appoint a new chairman from Citic Group, marking the first major management reshuffle since it was rescued in a $6.6 billion state-backed bailout.Most Read …
China $9 billion IPO plans stalled amid COVID outbreak
Over the past week, 15 companies seeking initial public offerings (IPOs) on Shanghai’s tech-focused STAR Market have suspended applications, almost al..
China’s US$9bn IPO plans hit by COVID-19 outbreak
China’s IPO applicants are putting their plans on hold, at a time when many companies have to update their financial results …
SoftBank to Shift Arm’s Stake in Troubled China Unit Before IPO
Arm Ltd. is shifting a chunk of its stake in Arm China to parent SoftBank Group Corp. and revising how it accounts for the troubled Chinese affiliate, a bookkeeping change that may ease the British…
China 60b yuan IPO plans stalled amid Covid outbreak
Over the past week, 15 companies seeking initial public offerings (IPOs) on Shanghai’s tech-focused Star Market have suspended applications, almost all citing impact from the epidemic, exchange …
Chipmaker Arm looks to transfer shares in China division to accelerate IPO plans
British chipmaker Arm is preparing to transfer shares in its China division to a special purpose vehicle set up by its owner Softbank, as it looks to accelerate its move onto the public markets.
Arm plans transfer of shares in China JV to speed up U.S. IPO – FT
UK’s Arm Ltd is planning to transfer shares in its Chinese joint venture to a SoftBank Group 9984.T special purpose vehicle to speed up its initial public off …
Arm plans transfer of shares in renegade China unit to speed up IPO
Shifting stake in chip designer’s joint venture to a SoftBank special purpose vehicle would ease New York flotation …
Amid surge in COVID-19, China reports 1,629 new cases
Out of 1,629 infections, 1,565 were locally transmitted cases and 64 were imported COVID-19 cases, reported Xinhua.
Stay vigilant to Western slander against China’s anti-COVID-19 policy
As China’s anti-pandemic fight has entered a critical phase, some Western politicians and media once again cranked their smearing machine to hurl mud at China’s dynamic zero-COVID policy. Some …
