Listed banks extend 5 trln yuan of housing-related loans in 2009
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China's business press carried the following stories Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.
12 listed banks extend 5 trillion yuan of housing-related loans in 2009 - Guangzhou Daily
Guangzhou Daily reported Wednesday that 12 domestic listed banks extended more than 5 trillion yuan of real estate-related loans, accounting for almost a quarter of their total lending last year.
Banks lent 21 trillion yuan in 2009, in which loans for real estate development and individual mortgages stood at 1.66 and 3.62 trillion yuan, respectively.
Industrial and Commercial Bank of China extended the largest amount of real estate-related loans with 1.3 trillion yuan, in which 422 billion yuan went to housing development companies and 874 billion yuan to individual home buyers.
Bank of China's and China Construction Bank's loans also exceeded 1 trillion yuan, at 1.3 and 1.2 trillion yuan, respectively.
Industrial Bank had the highest ratio of housing-related loans to total loans with 31 percent.
Bank of Communications' share sale plan approved by shareholders - Shanghai Securities News
Bank of Communications announced Wednesday that its board of directors have approved its plan to sell A and H shares.
According to the proposal, the Shanghai-based bank will offer no more than 1.5 rights shares for every 10 shares to its existing shareholders, which will help the bank raise up to 42 billion yuan.
Bank of Communications is China's fifth largest lender, with a 19-percent-stake held by HSBC.
China Banking Regulatory Commission raised the capital requirement ratio for large-sized commercial banks to 11.5 percent in December last year.
Baosteel announces May prices for steel products - Economic Information Daily
Baoshan Iron and Steel, one of China's leading steel makers, released on Tuesday its prices of major steel products for May.
Baosteel kept its major products of hot-rolled steel prices unchanged and raised the prices of cold-rolled steels by 200 yuan per tonne. The steel giant also raised the prices of wide and heavy steel plates and silicon steel by 500 yuan per tonne and 600 yuan per tonne.
The price increases are lower than expected.
This marks the fourth consecutive price hikes by the three major Chinese steel makers this year. In the first five months, Baosteel's prices for hot-rolled and cold-rolled steel have increased more than 1,000 yuan per tonne. Silicon's price increases are even higher, up 1,650 yuan per tonne.
