Chillin' out till it needs to be funded
China bid up time for its banks to recover with the new bank rules expected to incorporate stricter risk regimes, soft footing it after a rollover of $12 bln worth of local Government loans in February.
The CBRC will also apply new regulatory parameters, such as the liquidity coverage ratio, which sets the standards on highly liquid assets held by banks to meet short-term obligations, and net stable funding ratio, which measures medium and long-term funding of the assets of banks.
European FDI into China dropped 33% for the month while the Feb data was a 1% lower at $7.75 bln overall. BOCOM, HSBC partner in China, completed a $9 bln placement of shares today
BoCom will sell 6.54 billion new Shanghai-traded shares to seven investors including the China’s National Council for Social Security Fund, auto maker FAW Group and tobacco manufacturer Hongta Group, and 5.56 billion new Hong Kong-traded shares. (at less than 5 Yuan each)
China’s investments in Germany in 2011 counted to 158 projects with Public sector caterpillar clone Sany Heavy riding German machinery maker Putzmeister just last week
China suffered a political setback earlier this week when Chongqing mayor Bo Xilai and a leader on the rise was replaced because his Police chief had indulged in Anti national activities in plans to quit China and immigrate to the US. Bo would otherwise be one of the nine standing committee members of the Polit Bureau that run the country. Bo was known for his heavy handedness and when Wang Ljun , his police chief tried to take asylum in the US, Bo was soon asked to quit.
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