Shanghai Bureau Chief
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Nov 11, 2011

HSBC injects £277 million into China unit

SHANGHAI (Reuters) – HSBC Holdings Plc (0005.HK: Quote, Profile, Research) (HSBA.L: Quote, Profile, Research) has injected 2.8 billion yuan $441 million (277 million pounds) into its China unit, underscoring the growing importance of the Chinese market to the bank at a time when it is cutting jobs elsewhere.

The injection, which will bring the registered capital of locally incorporated unit HSBC Bank (China) Co Ltd to 10.8 billion yuan, marks the first time a foreign bank has been allowed to use yuan to inject new capital, HSBC’s local unit said in a statement.

Nov 11, 2011

HSBC injects 2.8 bln yuan into China unit

SHANGHAI, Nov 11 (Reuters) – HSBC Holdings Plc
has injected 2.8 billion yuan ($441 million)
into its China unit, underscoring the growing importance of the
Chinese market to the bank at a time when it is cutting jobs
elsewhere.

The injection, which will bring the registered capital of
locally incorporated unit HSBC Bank (China) Co Ltd to 10.8
billion yuan, marks the first time a foreign bank has been
allowed to use yuan to inject new capital, HSBC’s local unit
said in a statement.

Oct 31, 2011

China mutual funds raise bets on stocks on hope of easing: poll

SHANGHAI (Reuters) – Chinese fund managers are suggesting higher exposure to stocks and bonds, betting the government will start to loosen the screws on monetary policy as inflationary pressure eases, the latest monthly Reuters fund poll shows.

The average suggested equity weighting over the next three months rose to 83.6 percent from last month’s 82.8 percent, while the recommended bond exposure rose to 8.7 percent from 6.0 percent, according to the poll of nine China-based fund managers conducted last week.

Oct 29, 2011

New China bank watchdog a calm captain through storms

SHANGHAI (Reuters) – China’s new banking regulator Shang Fulin will bring experience in pressing reforms and a hallmark cool-headed approach as he takes oversight of a sector trying to digest the effects of a lending binge that has left banks with mounting piles of debt.

Shang, top securities regulator since late 2002, has proven adept at navigating choppy financial waters, managing to introduce a raft of much-needed reforms to stock and futures markets despite investor jitters over their potential impact.

Oct 27, 2011

China to set up database to combat insider trading

SHANGHAI, Oct 27 (Reuters) – China’s stock market regulator
will require listed companies to keep records on anyone who may
have access to price-sensitive information, in its latest effort
to crack down on widespread insider trading.

The China Securities Regulatory Commission (CSRC) has been
waging a campaign against rampant market manipulation, insider
trading and other stock market malpractice that have hurt
domestic capital markets and triggered public outcries.

Oct 26, 2011

Ping An Q3 profit plunges 44% on acquisition costs

SHANGHAI, Oct 26 (Reuters) – China’s Ping An Insurance
, the world’s second-largest life insurer, posted a
surprise 44 percent slump in third-quarter profit, hit by
one-off costs for its takeover of Shenzhen Development Bank
.

Ping An, in which bank HSBC owns a 15.6 percent
stake, also had to contend with sinking markets.

Oct 26, 2011

Yuan edges up, market cautious amid political rows

SHANGHAI, Oct 26 (Reuters) – The yuan was slightly up versus
the dollar by midday on Wednesday, with the market remaining
cautious amid growing pressure from the United States for China
to do more to let its currency strengthen.

The People’s Bank of China (PBOC) has continued to set the
yuan’s daily mid-point at or around record high levels over the
past few days, in what traders interpreted as a gesture ahead of
a Group of 20 summit in France next month that China is willing
to let the currency appreciate.

Oct 12, 2011

Yuan ends up as Chinese state banks sell dollars

SHANGHAI, Oct 12 (Reuters) – China’s yuan reversed an
earlier fall to close firmer against the dollar on Wednesday as
state-run Chinese banks sold dollars after the yuan fell to its
lower daily limit on speculation that a U.S. bill prodding China
to let the yuan rise at a faster pace could spark retaliatory
steps.

The People’s Bank of China (PBOC) has at times in the past
engineered declines in the yuan to coincide with U.S.
pressure for it to strengthen its currency, in what analysts
have interpreted as an effort to signal that it will move at its
own pace on the currency, officially known as the renminbi.

Oct 12, 2011

Yuan falls on currency retaliation worry, but off daily limit low

SHANGHAI, Oct 12 (Reuters) – China’s yuan fell versus the
dollar on Wednesday on speculation that a U.S. bill prodding
China to let the yuan rise at a faster pace could spark
retaliatory steps, but the currency recovered from its lower
daily limit after government-controlled Chinese banks sold
dollars into the market.

The People’s Bank of China (PBOC) has at times in the past
engineered declines in the yuan to coincide with U.S.
pressure for it to strengthen its currency, in what analysts
have interpreted as an effort to signal that it will move at its
own pace on the currency, officially known as the renminbi.

Oct 12, 2011

Yuan falls on trade dispute worries, briefly limit down

SHANGHAI, Oct 12 (Reuters) – China’s yuan fell
sharply in early trade on Wednesday to its lower daily limit
against the dollar, although it later recovered somewhat,
reflecting worries among traders about the potential fallout
from the U.S. Senate passing a bill aimed at pushing China to
let its currency rise at a faster pace.

The People’s Bank of China has at times in the past
engineered falls in the yuan to coincide with U.S. pressure for
it to strengthen its currency, in what analysts have interpreted
as an attempt to signal that it will move at its own pace on the
yuan, also known as the renminbi.

    • About Jason

      "Jason leads Reuters' coverage of China's financial markets from Shanghai. Prior to moving there at the start of 2010, he reported on the Chinese economy and policy from Beijing, where he lived for a decade."
      Joined Reuters:
      2005
      Languages:
      Mandarin, German
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