Business
Money
Bank of China OKed for 32b yuan of subordinate debt
Updated: 2011-05-11 14:35
(Crienglish.com)
The Bank of China has now received regulatory approval to issue up to 32 billion yuan ($4.9 billion) worth of subordinate debt to improve its capital structure.
This latest issuing comes after the Bank of China issued subordinate debt worth 40 billion in 2009 and 2.5 billion last march.
The bank's chair, Xiao Gang, says while they're issuing debt, they have no plans to issue any more shares for the next 3-years.
Specials
Sino-US Dialogue
China and the US hold the third round of the Strategic and Economic Dialogue from May 9-10 in Washington.
New wave
Coastal city banks on marine sector to ride next stage of economic development
V-Day parade
A military parade marking the 66th anniversary of the Soviet victory over Nazi.