1. Banks Get IPO Windfall.
- Author
-
Tan Wei
- Subjects
- *
BANKING industry finance , *GOING public (Securities) , *FOREIGN investments - Abstract
Reports that the initial public offering (IPO) of the four major banks in China signifies that the reform of commercial banks is underway. Addition of 45 billion dollars to the foreign exchange reserves of the Bank of China and China Construction Bank (CCB) in 2003; Plan of CCB to accomplish its IPO in 2004; Comment from the State Administration of Foreign Exchange that the capital injection is a move taken by the State Council to guard against and dissolve the country's financial risks and improve the financial system.
- Published
- 2004