CCB Buys Hong Kong-based Jian Sing Bank

Home>>Business

Last updated at: (Beijing Time) Saturday, February 23, 2002

CCB Buys Hong Kong-based Jian Sing Bank

China Construction Bank (CCB) announced Friday that it had spent 105.2 million Hong Kong dollarsin a deal for total ownership of Hong Kong-based Jian Sing Bank.

DISCUSSION

CHINESE

SEND TO FRIEND

China Construction Bank (CCB) announced Friday that it had spent 105.2 million Hong Kong dollarsin a deal for total ownership of Hong Kong-based Jian Sing Bank.

The CCB bought 30 percent of Jian Sing bank's shares from the other owner, Dah Sing Bank of Hong Kong. Jian Sing Bank had been jointly run by the CCB and Dah Sing Bank, while the CCB had possessed 70 percent of its stock shares.

The CCB source said that the deal is vital for the bank's international-market-oriented development policy, as it is locatedin Hong Kong, a world-renowned financial center.

And it also shows the bank is ready for the competition after China's entry into the World Trade Organization, the source added.

The CCB, one of the four state-owned commercial banks in China,has total assets of 2.5 trillion yuan, ranking twenty-ninth among the world's top 1,000 banks. It has 25,000 branches in China.

Questions?Comments? Click here

CCB to Enhance Cooperation with Foreign Counterparts

CCB to Set Up Housing Deposit Bank with German Partner

CCB to Maintain Income Recovery