China

A $4 million deal can provide Bank of East Asia Ltd (BEA) entrance into China's fund market.

HSBC Bank China appointed Helen Wong as its new Deputy Chief Executive Officer and Director of the Board with immediate effect.

ICBC introduced 320 varieties of new financial products during the first half of this year to increase its incomes in investment banking, debt financing tool underwriting and corporate financing.

By extending its overseas operating institutions to 15 countries, ICBC's overseas operating assets as of end of June grew to US$46 billion, increasing 15 percent from the beginning of 2009. So far the Industrial and Commercial Bank of China had set up and owns 143 overseas branch institutions and banks and established agency relationships with 1378 banks in 125 countries and regions.

The British Standards Institution approved the transition of ICBC Bill Business Department's certification from ISO 9001:2000 to ISO 9001:2008. The achievement marks the 7th consecutive successful follow-up assessment of the Bill Business Department and its branches, which also makes it the first banking institution to be certified with ISO 9001:2008 in China.

HSBC Bank China expanded in China's Bohai Rim region by becoming the first foreign bank to open a branch in Jinan.

Standard Chartered Bank China has appointed Katherine Tsang as Chairperson for Greater China.   In her new role, Katherine will help capture opportunities in Greater China with respect to trade flows, capital investment and talent development. Katherine will also continue to help deliver the Bank’s overarching strategy in China.

The biggest in China since 2007, the initial public offering of China State Construction Engineering Corporation aims to raise as much as $7.3 billion. Pegged at $0.58 to $0.62 each, as many as 12 billion shares are intended to be sold by the housing contractor. It is the world's biggest IPO since Visa Inc. raised more than $19 billion in March 2008.

The beginning of long-term collaboration between BEA and Hana Bank have been formalised with a MOU. It outlines the framework for their mutually beneficial co-development of businesses in Mainland China, Hong Kong, Korea, and other key markets.

ICBC launched its Mobile Banking 3G Trial Version, seen as the Chinese banking industry's entry into the 3G era.

Hang Seng Bank held a Board of Directors meeting in Yantai City to express its strong commitment to mainland China. Yantai in Shandong province is home to one of the Bank's strategic partners, Yantai Bank.

ICBC launched a new "anti-phishing" control to enhance customers' anti-fraud capacity and guarantee information security of Internet Banking. This new security control is able to directly detect whether the websites customers visit are safe, hence enabling customers, even those who are in lack of knowledge about Internet security, to judge the authenticity of the visited website in an easy and convenient way. Therefore, it is an effective tool for customers to recognise and prevent phishing sites.

They musn't be reading the same newspapers as us, because China Minsheng Bank is planning to issue 15 million credit cards over the next three years.

Just days after buying CCB shares from Bank of America, China Life Insurance chief Yang Chao says he would consider selling the shares.

Mrs Dorothy K Y P Sit, Director of Hang Seng China, will be appointed as Chief Executive of Hang Seng China. She is currently General Manager and Chief Operating Officer of Hang Seng Bank.She will replace Mr Johnson Fu, Chief Executive of Hang Seng Bank China Limited, who has resigned for personal reasons. Fu joined Hang Seng Bank as Deputy General Manager and Head of China Business in 2005. He became Chief Executive of Hang Seng China when it was set up in May 2007.Sit began her career with The Hongkong and Shanghai Banking Corporation Limited in 1976 after receiving her Master of Business Administration degree from the Chinese University of Hong Kong.She worked in a variety of positions in retail banking, operations and systems, mainland China project finance, products and services development, marketing, savings and retail investments. She was appointed Senior Executive Deputy Head of Personal Financial Services in 2002, with responsibility for customer service and sales delivery in Hong Kong.In January 2004, Sit was appointed Head of Personal Financial Services, Hong Kong, with responsibility for overseeing The Hongkong and Shanghai Banking Corporation Limited's personal financial services development in Hong Kong. She was appointed Director of Bank of Shanghai in 2004-2005.Sit joined Hang Seng Bank in December 2005 as General Manager. She was appointed Chief Operating Officer in January 2006, and Director of Hang Seng Bank (China) Ltd in June 2007.

Crazy Chinese bank lending continues apace with news that three of China’s government-controlled banks have just lent over US$6 billion to an airline that lost $2 billion last year.