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News from China
CBRC gives nod to 2 private banks
23rd December 2016

 CHINA’S banking watchdog has approved the launch of two private banks, in Beijing and Jiangsu Province, to better serve the real economy and help finance small enterprises.

 
In a statement to the Shenzhen Stock Exchange, Suning Commerce Group, a major Chinese home appliance retailer, said it has received the green light from the China Banking Regulatory Commission to set up its bank in Nanjing, capital of east China’s Jiangsu Province.
 
Suning has a 30 percent stake in the bank.
 
Meanwhile, shareholders of Zhongguancun Bank said the bank has received regulatory approval.
 
Zhongguancun Bank has a registered capital of 4 billion yuan (US$576 million) and will be established by 11 listed companies in six months. Yonyou Network Technology Co is the largest shareholder, with a 29.8 percent stake.
 
Both banks will provide financial services, mainly to individual clients and micro, small and medium-sized enterprises.
 
The CBRC approved the setting up of five private banks on a trial basis in March 2014, in a bid to further open up the banking sector to domestic and foreign capital.
 
Earlier this year, the banking regulator approved Chongqing-based Fumin Bank, Sichuan-based Xiwang Bank and Fujian-based Huatong Bank.
Source: Shanghai Daily, December 23, 2016
Rosy year for courier industry
21st December 2016

 CHINA’S courier sector grew strongly this year amid efforts to boost consumption and services, the State Post Bureau said yesterday.

 
So far, a total of 30 billion deliveries has been made this year, up 53 percent year on year, continuing its leading position in the world, the bureau said.
 
Courier business revenue was over 354.4 billion yuan (US$51 billion) in the first 11 months of 2016, up 44.3 percent year on year, the bureau said.
 
Bureau data showed 20.65 billion parcels were delivered in 2015, up 48 percent from 2014.
 
Courier services had covered 70 percent of towns and villages by the end of 2015. China will extend this network and lift technology, services and global connections by 2020, the bureau said.
 
The target annual revenue of the courier sector will be 800 billion yuan by 2020.
Source: Shanghai Daily, December 21, 2016
Telco to tap new tech to transform
20th December 2016

 CHINA Mobile will transform its business and boost revenue in 2017 by tying up with partners to tap the 5G network, Internet of Things and smart home development, the telco said yesterday.

 
The country’s No. 1 telecommunications carrier also seeks to boost cooperation with top Chinese dot-com firms including Alibaba and Baidu in these areas.
China had over 1 billion mobile broadband users at the end of November, opening up opportunities in e-commerce, social networking and mobile games, industry insiders said.
 
China Mobile and partners like Huawei Technologies and ZTE Corp are testing 5G base stations and various devices nationwide. The new 5G technology, which will debut between 2018 and 2020, offers consumers a bandwidth of above 1 gigabytes per second, 20-50 times faster than current 4G networks, said Huang Yuhong, vice director of the China Mobile
Source: Shanghai Daily, December 20, 2016
Vanke aborts acquisition deal
19th December 2016

 CHINA Vanke Co, the Chinese mainland’s biggest property company by sales, said yesterday it was terminating a key agreement to acquire a property development arm of Shenzhen Metro Group after it failed to get the approval of some of its major shareholders.

 
Vanke is the subject of complex corporate power struggle with Chinese financial conglomerate Baoneng seeking to oust the management, having built up a 25 percent stake in Vanke.
 
Fearing a hostile takeover attempt by Baoneng, Vanke said in June it had agreed to buy the property unit of white knight Shenzhen Metro Group for US$6.9 billion in shares, which would have made the state-owned subway operator its biggest shareholder.
 
Both Baoneng and China Resources Group, its two major shareholders, had said they would oppose the deal.
 
Vanke said yesterday it had been engaged in talks with shareholders on the purchase of SZMC Qianhai International Development Co Ltd, which owns property developments above the metro facilities in Shenzhen, and proposed amendments to the deal.
 
“However, as of the date of this announcement, the relevant parties have yet been able to reach a consensus on the details of the acquisition,” it said, without naming any of its shareholders opposed to the deal.
 
Vanke does not expect the termination of the acquisition to have any “material adverse impacts” on its short-term financial position, the company said in its statement filed with the Hong Kong exchange late yesterday.
Source: Shanghai Daily, December 19, 2016

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