Tag Archives: Yue Xiu

BANKING: Bank Of China Finds Few Buyers For HK Nanyang Unit

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Bottom line: Bank of China’s Hong Kong arm is likely to find limited interest in a sale of its Nanyang Commercial Bank unit, as a slowing Chinese economy cools offshore interest in buying Hong Kong banks.

Bank of China looks to sell Nanyang Bank

A new report about a potential major bank sale in Hong Kong made me realize that a widely expected rush to buy locally based lenders in the former British colony never materialized. This latest report that the Hong Kong unit of Bank of China (HKEx: 3988; Shanghai: 601398) is shopping its locally-based Nanyang Commercial Bank might rekindle speculation that a flurry of new sales is coming. But the potential buyers mentioned in the report make such a gold rush look unlikely, indicating local Hong Kong banks may be losing their appeal as acquisition targets for Chinese and other global lenders. Read Full Post…

Guangzhou Buys HK Bank, More To Come?

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Guangzhou buys HK’s Chong Hing Bank

A new deal that has seen a mid-sized Hong Kong bank purchased by a government entity of the southern city of Guangzhou is raising the interesting prospect that we could soon see a grab for similar banks by Chinese lenders looking to go global. As a financial center with strong cultural and geographic ties to the mainland, Hong Kong is a natural stepping stone for any Chinese bank that might want to move beyond its home turf, where politics dominate many decisions, into Asian markets where profits are the driving factor. That urgency to move abroad could become stronger in the next few years, as China signals it will soon open up the state-dominated banking sector to private investors. Read Full Post…

News Digest: October 26-28

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The following press releases and media reports about Chinese companies were carried on October 26-28. To view a full article or story, click on the link next to the headline.
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