China

Nancy Ku named president and CEO, GE Commercial Finance China. This marks a new integrated approach to the market, for the organisation.

 

Standard Poor's Ratings said it had assigned 'A' long-term and 'A-1' short-term issuer credit rating to China Export Credit Insurance Corp.

The Industrial and Commercial Bank of China reported that its balance of loans granted to small enterprises amounted to 191bn yuan in H1.

OCBC Bank has commenced business at its new wholly-owned subsidiary in China, OCBC Bank (China) Ltd.

The Import and Export Bank of China recorded a non-performing loan ratio of 2.84 per cent at the end of June, down from 3.47% at the end of last year.

The Chinese government has set up a special fund of 100 million yuan to encourage venture capital companies to invest in technology-based SMEs.

South China's Guangdong Province is extending its credit database for SME enterprises to give them better access to bank loans.

SMEs will soon represent two-thirds of China's gross domestic product, and three-quarters of its GDP growth: nobody can overlook them any more. Conquering those Chinese SMEs is increasingly high on the priority of many companies.

Belgo-Dutch bancassurance group Fortis NV announced it has signed a comprehensive business cooperation agreement to create an insurance JV with Chinese peer Sinosure.

DBS Bank Ltd's (DBS) local subsidiary in China, DBS Bank (China) Limited has been incorporated with registered capital of RMB4 bn (USD523m). It plans to roll out a comprehensive range of RMB services, including factoring.