China Information

Saturday, December 30, 2006

Domestic Banks Are Encouraged to Go Listing In Hong Kong

When meeting Donald Tsang Yam Kuen, the Chief Executive of HKSAR recently, Chairman Liu Mingkang of the CBRC said that the CBRC would encourage domestic commercial banks to go public listing in Hong Kong. Liu Mingkang expressed in the recent years, the four banks of the Bank of Communications, China Construction Bank, Bank of China and ICBC have successfully gone public listing in Hong Kong. Recently, the CBRC has approved the incorporation in Mainland China of HK-based banks including East Asia Bank, HSBC and Hang Seng, and hence the cooperation of Mainland China and Hong Kong is further strengthened. Besides the public listing of domestic commercial banks in Hong Kong, the CBRC will keep supporting the Hong Kong-based banking institutions in developing business in the mainland in accordance with the relevant conditions.

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