亚洲色怡人综合网站,国产性夜夜春夜夜爽,久久97AV综合,国产色视频一区二区三区

 
 
 

當前位置: Language Tips> 新聞播報

Bank of America finally exits CCB

中國日報網 2013-09-05 10:06

分享到

 

Get Flash Player

Download

The sale of a stake in China Construction Bank held by Bank of America Corp was prompted by the latter's capital shortage rather than concerns over the Chinese bank’s profitability, said its spokesperson on Wednesday, one day after the US bank cleared 2 billion Hong Kong-listed shares of CCB for about HK$11.7 billion ($1.47 billion).

Bank of America told CCB that it has been downsizing the Chinese bank's H-shares to pump up its assets because of stricter requirements on capital quality by US banking regulators, said the spokesperson.

The two banks will continue their partnership until 2016, based on a strategic agreement renewed in 2011.

The American bank has been reducing its shares in CCB since 2009, gaining nearly HK$210 billion, 1.2 times its purchase costs.

CCB's H-shares fell by 1.35 percent at the close of trading Wednesday. Other major commercial banks were hardly affected by the sell-out. Bank of China, Agricultural Bank of China and Bank of Communications Co saw increases of 0.29 percent, 0.58 percent and 0.19 percent, respectively.

Bank of America's move did not come as a surprise, said Guo Tianyong, a professor at Central University of Finance and Economics.

"Foreign capital in China's banking sector has been receding for quite a while because the economic slowdown and financial reforms have hampered the growth potential of China's State-backed banks."

Wang Hongzhang, chairman of CCB, said at the half-year earnings news conference that Bank of America's consecutive selling of its stocks was to cushion the effect of the subprime lending crisis.

Experts cited other possible reasons for the US bank's exit.

"The investment bank probably believes that CCB's performance has reached its peak," said Zhou Kunping, an analyst at Bank of Communications. "In that case, now would be the best time to clear the stakes."

Bank of America, as an investment bank, may not have aimed for long-term investment when it bought CCB's shares in 2005, Zhou added, particularly when it is unlikely to have a dominant share in the bank since stakeholders in banks throughout the world are usually highly diversified.

Bank of America's exit from CCB marks the end of an era when foreign stakeholders held a prominent presence in major Chinese banks.

A host of overseas banks, including Goldman Sachs, Citigroup, Morgan Stanley, UBS AG, among others, bought into Chinese banks before they went public.

Questions:

1. Which American bank sold its stake in China Construction Bank?

2. What is thought to be the reason?

3. When did BofA buy CCB shares?

Answers:

1. Bank of America Corp.

2. BofA’s capital shortage.

3. In 2005.

(中國日報網英語點津 Helen 編輯)

Bank of America finally exits CCB

About the broadcaster:

Bank of America finally exits CCB

Nelly Min is an editor at China Daily with more than 10 years of experience as a newspaper editor and photographer. She has worked at major newspapers in the U.S., including the Los Angeles Times and the Detroit Free Press. She is also fluent in Korean.

 

分享到

中國日報網英語點津版權說明:凡注明來源為“中國日報網英語點津:XXX(署名)”的原創作品,除與中國日報網簽署英語點津內容授權協議的網站外,其他任何網站或單位未經允許不得非法盜鏈、轉載和使用,違者必究。如需使用,請與010-84883561聯系;凡本網注明“來源:XXX(非英語點津)”的作品,均轉載自其它媒體,目的在于傳播更多信息,其他媒體如需轉載,請與稿件來源方聯系,如產生任何問題與本網無關;本網所發布的歌曲、電影片段,版權歸原作者所有,僅供學習與研究,如果侵權,請提供版權證明,以便盡快刪除。

中國日報網雙語新聞

掃描左側二維碼

添加Chinadaily_Mobile
你想看的我們這兒都有!

中國日報雙語手機報

點擊左側圖標查看訂閱方式

中國首份雙語手機報
學英語看資訊一個都不能少!

關注和訂閱

本文相關閱讀
人氣排行
熱搜詞
 
精華欄目
 

閱讀

詞匯

視聽

翻譯

口語

合作

 

關于我們 | 聯系方式 | 招聘信息

Copyright by chinadaily.com.cn. All rights reserved. None of this material may be used for any commercial or public use. Reproduction in whole or in part without permission is prohibited. 版權聲明:本網站所刊登的中國日報網英語點津內容,版權屬中國日報網所有,未經協議授權,禁止下載使用。 歡迎愿意與本網站合作的單位或個人與我們聯系。

電話:8610-84883645

傳真:8610-84883500

Email: languagetips@chinadaily.com.cn