国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

   

CHINA / National

CCB president resigns his post
(Shanghai Daily)
Updated: 2006-07-25 09:22

China Construction Bank, the country's fourth-largest lender, announced the resignation of its President Chang Zhenming yesterday.


Former president of China Construction Bank Corp. , Chang Zhenming. [people.com.cn]

The bank said Chang's resignation will go into effect as soon as a replacement is named. A new president is expected to be named by the end of this week.

Chang also gave up his posts as vice chairman of the board and executive director, the Beijing-based lender said in a statement yesterday.

Chang, 50, is returning to Citic Group, the biggest state-run investment company, where he was an executive director and vice president before he joined Construction Bank in July 2004 as preparations for an initial public offering took shape.

The bank raised US$9.2 billion in Hong Kong in October during Chang's tenure as the first of China's big-four state-owned banks to go public. Shares of the bank ended at HK$3.39 (44 US cents) yesterday, up 44 percent since the company's debut.

Qiu Zhicheng, a Haitong Securities Co analyst, said Chang's resignation will not hit Construction Bank's management as the bank is on the right track with its restructuring plan.

"The bank would only face a problem if there was conflict about the board's management strategy, but that is not the case here," Qiu said.

A Reuters report based on unnamed sources said Zhang Jianguo, president of the Bank of Communications, will be named to Chang's position.

Zhang, 52, was appointed president of the BoCom in June 2004, before HSBC Holdings Plc finalized its purchase of a nearly 20 percent stake in the Shanghai-based lender for US$1.75 billion in August that year.

A Bank of Communications' spokesperson declined to comment on that report yesterday.

Chang's successor will face a challenge in cutting the bank's reliance on property loans and expanding its product portfolio amid the country's measures to cool the red-hot property market, Qiu said.

Zhu Xiaohuang, chief risk officer for the bank, said last week the bank will pare lending to the real estate sector amid higher risk weighings as its new yuan lending in the first half has exceeded the bank's full-year target of 330 billion yuan.

The People's Bank of China said last Friday it will raise the reserve requirement ratio by 0.5 percentage points to 8.5 percent from August 15 to curb the excess liquidity and further rein in the funding to the real estate sector.

 
 

Related Stories
 
元氏县| 黔东| 黎川县| 公安县| 许昌县| 上栗县| 金山区| 平谷区| 思南县| 乐陵市| 朔州市| 邓州市| 翁牛特旗| 大港区| 江津市| 乐平市| 台东市| 鹤峰县| 馆陶县| 南雄市| 邮箱| 青川县| 珲春市| 民乐县| 灌南县| 西昌市| 襄汾县| 宁乡县| 麦盖提县| 瑞昌市| 资中县| 河西区| 漳浦县| 乐业县| 精河县| 辽源市| 麻城市| 三穗县| 娱乐| 东辽县| 五莲县|