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The Public Banks and People's Bank of China: Confronting
Chapter 13 Godfrey Yeung THE PUBLIC BANKS AND PEOPLE’S BANK OF CHINA: CONFRONTING COVID-19 (IF NOT WITHOUT CONTROVERSY) he outbreak of Covid-19 in Wuhan and its subsequent dom- ino effects due to the lock-down in major cities have had a devastating effect on the Chinese economy. China is an Tinteresting case to illustrate what policy instruments the central bank can deploy through state-owned commercial banks (a form of ‘hybrid’ public banks) to buffer the economic shock during times of crisis. In addition to the standardized practice of liquidity injection into the banking system to maintain its financial viability, the Chi- nese central bank issued two top-down and explicit administra- tive directives to state-owned commercial banks: the minimum quota on lending to small- and medium-sized enterprises (MSEs) and non-profitable lending. Notwithstanding its controversy on loopholes related to such lending practices, these pro-active policy directives provide counter-cyclical lending and appear able to pro- vide short-term relief for SMEs from the Covid-19 shock in a timely manner. This has helped to mitigate the devastating impacts of the pandemic on the Chinese economy. 283 Godfrey Yeung INTRODUCTION The outbreak of Covid-19 leading to the lock-down in Wuhan on January 23, 2020 and the subsequent pandemic had significant im- pacts on the Chinese economy. China’s policy response regarding the banking system has helped to mitigate the devastating impacts of pandemic on the Chinese economy. Before we review the measures implemented by the Chinese gov- ernment, it is important for us to give a brief overview of the roles of two major group of actors (institutions) in the banking system. -
China Construction Bank 2018 Reduced U.S. Resolution Plan Public Section
China Construction Bank 2018 Reduced U.S. Resolution Plan Public Section 1 Table of Contents Introduction .................................................................................................................................................. 3 Overview of China Construction Bank Corporation ...................................................................................... 3 1. Material Entities .................................................................................................................................... 4 2. Core Business Lines ............................................................................................................................... 4 3. Financial Information Regarding Assets, Liabilities, Capital and Major Funding Sources .................... 5 3.1 Balance Sheet Information ........................................................................................................... 5 3.2 Major Funding Sources ................................................................................................................. 8 3.3 Capital ........................................................................................................................................... 8 4. Derivatives Activities and Hedging Activities ........................................................................................ 8 5. Memberships in Material Payment, Clearing and Settlement Systems ............................................... 8 6. Description of Foreign Operations ....................................................................................................... -
Annual Report 1 Corporate Overview
ai161915073836_Yida AR20 Cover_21.5mm_output.pdf 1 23/4/2021 下午12:05 C M Y CM MY CY CMY K Contents Corporate Overview 2 Corporate Information 3 Financial Summary 5 Chairman’s Statement 7 Management Discussion and Analysis 11 Environmental, Social and Governance Report 39 Profile of Directors and Senior Management 60 Directors’ Report 65 Corporate Governance Report 80 Independent Auditor’s Report 90 Consolidated Financial Statements • Consolidated Statement of Profit or Loss 97 • Consolidated Statement of Comprehensive Income 98 • Consolidated Statement of Financial Position 99 • Consolidated Statement of Changes in Equity 101 • Consolidated Statement of Cash Flows 103 • Notes to the Consolidated Financial Statements 105 Yida China Holdings Limited 2020 Annual Report 1 Corporate Overview Yida China Holdings Limited (the “Company”), together with its industrial upgrading strategies, fully integrated internal and external subsidiaries (collectively referred to as the “Group”), founded in resources, further developed and operated Dalian Ascendas IT Park, 1988, headquartered in Shanghai, is China’s largest business park Tianjin Binhai Service Outsourcing Industrial Park, Suzhou High- developer and leading business park operator. The main business tech Software Park, Wuhan Guanggu Software Park, Dalian Tiandi, involves business park development and operation, residential Dalian BEST City, Wuhan Software New Town, Yida Information properties within and outside business parks and office properties Software Park and many other software parks and technology sales, business park entrusted operation and management and parks. It helped the Group achieve its preliminary strategic goals of construction, decoration and landscaping services. On 27 June “National Expansion, Business Model Exploration and Diversified 2014, the Company was successfully listed (the “Listing”) on the Cooperation”. -
CRRC Corp -H 1766.HK, 1766 HK Outlook Bullish
Asia Pacific Equity Research 30 October 2016 Overweight CRRC Corp -H 1766.HK, 1766 HK Outlook bullish. Weak Q3 and delayed orders factored Price: HK$7.15 ▼ Price Target: HK$12.50 in. Maintain OW Previous: HK$13.00 3Q16 result expectedly weak; guidance turned positive with MU China demand outlook raised. CRRC reported 3Q NPAT of Rmb2.7B, -16% Infrastructure, Industrials & Y/Y as revenue fell 4% Y/Y while GPM slipped 1.1ppts Y/Y. These Transport results were largely expected in light of CRC’s muted procurement Karen Li, CFA AC YTD. However, we observed that guidance was noticeably more bullish (852) 2800-8589 (inside for takeaways from the briefing) despite the near-term earnings [email protected] Bloomberg JPMA KLI <GO> pressure in 4Q16. Mgmt expects this year's pent-up orders to be released J.P. Morgan Securities (Asia Pacific) Limited soon with CRC's leadership transition completed, while highlighting the robust MU demand in coming years driven by new product sales, rising Price Performance aftersales services, and increasing MU density. We remain positive on 10.5 the demand outlook for rolling stock in China, recommending switching 9.5 HK$ to late cycle railway capex plays over E&C contractors. Our new Dec-17 8.5 PT is HK$12.5 for CRRC-H; maintain OW. 7.5 6.5 CRC leadership transition completed; pace of procurement to Oct-15 Jan-16 Apr-16 Jul-16 Oct-16 1766.HK share price (HK$) accelerate into year-end. Mgmt was optimistic that this year’s long- HSCI (rebased) awaited orders will be released soon, highlighting CRC's new chief Mr. -
Examples for Business Scenarios in Manufacturing Industry Published By: Deutsche Gesellschaft Für Internationale Zusammenarbeit (GIZ) Gmbh
GLOBAL PROJ T Quality Infrastructure Examples for Business Scenarios in Manufacturing Industry Published by: Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH Registered offices Bonn and Eschborn, Germany Global Project Quality Infrastructure Tayuan Diplomatic Office Building No.14, Liangmahe Nanlu, chaoyang District Text 100600 Beijing, PR China Standardization Council Industrie 4.0 DKE Deutsche Kommission Elektrotechnik E [email protected] Elektronik Informationstechnik in DIN und VDE, I www.gpqi.org 60596 Frankfurt am Main Design/layout: National Intelligent Manufacturing Standardisation Administration Group Iris Christmann, Wiesbaden China Electronics Standardization Institute, No.1 Andingmen East Street, Dongcheng District, Beijing, 100007, China Photo credits: Depositphotos Authors/Experts CHEN Jiangning, Siemens Ltd. China; CHENG Yuhang, China Electronics On behalf of Standardization Institute (CESI); CHEN Zhiman, Zhuzhou CRRC Times Federal Ministry of Economic Affairs and Energy (BMWi) Electric Co., Ltd.; Wolfgang Dorst, ROI Management Consulting AG; Lucas Gierging, Spanflug Technologies GmbH; Dr. Hannes Leonardy, UNITY AG; Beijing, China 2020 Prof. Dr. Ulrich Loewen, Siemens AG; ZHAO Haitao, Siemens Ltd. China A joint project of: EXAMPLES FOR BUSINESS SCENARIOS IN MANUFACTURING INDUSTRY 3 Contents Introduction ....................................................... 4 Background.........................................................4 Common Understanding of “Use Cases”....................................4 Objectives -
Interim Report 2020 Sany Heavy Equipment International Holdings Company Limited 1 Financial Summary
Contents Financial Summary 2 Corporate Information 3 Chairman’s Statement 4 Management Discussion and Analysis 6 Disclosure of Interests 15 Corporate Governance and General Information 22 Directors and Senior Management 25 Interim Condensed Consolidated Statement of Profit or Loss 32 Interim Condensed Consolidated Statement of Comprehensive Income 33 Interim Condensed Consolidated Statement of Financial Position 34 Interim Condensed Consolidated Statement of Changes in Equity 36 Interim Condensed Consolidated Statement of Cash Flows 38 Notes to Interim Condensed Consolidated Financial Information 39 Interim Report 2020 Sany Heavy Equipment International Holdings Company Limited 1 Financial Summary Six months ended 30 June (RMB: ’000) 2020 2019 (Unaudited) (Unaudited) Increase (%) Revenue 3,815,076 3,043,706 25.3% Gross profit 1,030,096 943,993 9.1% Profit before tax 753,952 640,283 17.8% Net profit 638,619 552,763 15.5% Profit attributable to owners of the parent 639,705 551,732 15.9% Total assets 17,390,102 13,332,412 30.4% Total equity 7,409,704 6,774,283 9.4% Cash flows of operating activities 648,604 515,687 25.8% Cash flows of investing activities (1,180,500) (521,098) 126.5% Cash flows of financing activities 466,877 (176,147) (365.0%) Earnings per share1 – Basic (RMB Yuan) 0.21 0.18 16.7% – Diluted (RMB Yuan) 0.18 0.15 20.0% Six months ended 30 June (Percentage) 2020 2019 Increase (%) Gross profit margin 26.2% 30.5% (4.3%) Percentage of profit margin before tax attributable to shareholders of the Company2 19.8% 21.0% (1.2%) Assets turnover 23.2% 23.2% – Gearing ratio 57.4% 49.2% 8.2% Average total assets (RMB’000) 16,468,269 13,128,553 25.4% 1 The weighted average number of ordinary shares for the six months ended 30 June 2020 was 3,104,960,486 (six months ended 30 June 2019: 3,061,638,898), details of which are set out in note 9 to the interim condensed consolidated financial statements. -
Inward Remittance — Quick Reference Guide
Inward Remittance — Quick Reference Guide How to instruct a Remitting Bank to remit funds to your account with BOCHK Please instruct the Remitting Bank to send a detailed payment instruction in SWIFT MT103 format to us using the below SWIFT BIC of BOCHK. To designate BOCHK as the Beneficiary’s bank, please provide below details. SWIFT BIC: BKCHHKHHXXX Bank Name: BANK OF CHINA (HONG KONG) LIMITED, HONG KONG Main Address: BANK OF CHINA TOWER, 1 GARDEN ROAD, CENTRAL, HONG KONG Bank Code: 012 (for local bank transfer CHATS / RTGS only) Please provide details of your account for depositing the remittance proceeds. Beneficiary’s Account Number: Please provide the 14-digit account number to deposit the incoming funds. (Please refer to Part 3 for further explanation.) Beneficiary’s Name: Please provide the name of the above account number as in our record. Major Clearing Arrangement and Correspondent Banks of BOCHK CCY SWIFT BIC Name of Bank Details Bank of China (Hong Kong) Ltd - RMB BKCHHKHH838 BOCHK’s CNAPS No.: 9895 8400 1207 Clearing Centre CNY BKCHCNBJXXX Bank of China Head Office, Beijing Direct Participant of CIPS (Payment through CIPS) BKCHCNBJS00 Bank of China, Shanghai Correspondent Bank of BOCHK in the mainland CCY SWIFT BIC Name of Bank CCY SWIFT BIC Name of Bank AUD BKCHAU2SXXX Bank of China, Sydney NOK DNBANOKKXXX DNB Bank ASA, Oslo Bank Islam Brunei Darussalam NZD BND BIBDBNBBXXX ANZBNZ22XXX ANZ National Bank Ltd, Wellington Berhad CAD BKCHCATTXXX Bank of China (Canada), Toronto SEK NDEASESSXXX Nordea Bank AB (Publ), Stockholm CHF UBSWCHZH80A UBS Switzerland AG, Zurich SGD BKCHSGSGXXX Bank of China, Singapore DKK DABADKKKXXX Danske Bank A/S, Copenhagen THB BKKBTHBKXXX Bangkok Bank Public Co Ltd, Bangkok Commerzbank AG, Frankfurt AM COBADEFFXXX CHASUS33XXX JPMorgan Chase Bank NA, New York EUR Main BKCHDEFFXXX Bank of China, Frankfurt USD CITIUS33XXX Citibank New York GBP BKCHGB2LXXX Bank of China, London BOFAUS3NXXX Bank of America, N.A. -
SINOPEC Lubricants for Off-Highway Equipment S in O PE
SINOPEC Lubricants For Off-Highway Equipment SINOPEC Working Together For Wonderful Future For Wonderful Together Working SINOPEC Lubricant SINOPEC Lubricants for Off-Highway Equipment Contents Company Introduction Lubrication Solution for Off-Highway Equipment Major Lubricants for Off-Highway Equipment Integrity Leads To Win-Win Cooperation Introduction Sinopec Lubricant Co., Ltd. is a company specialized in lubricant marketing Lubricant Co., Ltd. has been committed to providing lubrication service for established by China Petrochemical Corporation (hereinafter referred to as “Shenzhou” series manned spacecrafts and “Chang’e” series lunar exploration “Sinopec Group”) to meet competition in the international lubricant market. satellites, making great contributions to the development of Chinese aeronautics Sinopec Lubricant Co., Ltd. has 12 lube oil & grease blending and manufacturing and astronautics course. Sinopec’s lubrication products completely satisfy the branches, 5 regional sales centers, 5 regional technical support centers, requirements set by ISO, API, ACEA, etc. 5 provincial sales branches, 3 joint ventures, 1 overseas subsidiary and 9 Keeping pace with the development of off-highway vehicles, Sinopec Lubricant RYHUVHDVRI¿FHVWRJHWKHUZLWKSURGXFW5 'LQVWLWXWHVDQGVWDWHUHFRJQL]HG Co., Ltd. has good cooperation with construction machinery enterprises and ODERUDWRULHV:LWKOHDGLQJLQQRYDWLYHDQG5 'FDSDELOLWLHVDQGZRUOGFODVV production equipments and process technologies, the Company boasts over distinct advantage in off-highway industry. SINOPEC lubricants are extensively 2,000 types of products such as lubricants for internal combustion engine, applied to famous enterprises such as XCMG, ZOOMLION, SANY, Lonking, industrial gear oils, hydraulic oils, greases, antifreezes, brake fluid, metal XGMA and SEM in China. With professional lubricants, Sinopec Lubricant Co., working fluids, Marine oils, lubricant additives, etc. divided in 21 categories, Ltd. -
Annual Meeting of the New Champions 2010 Abridged List Of
Annual Meeting of the New Champions 2010 Abridged List of Participants As of 30 April 2010 Tianjin, People's Republic of China, 13-15 September David K. Adomakoh Group Managing Director TisoGroup South Africa Igor Akhmerov Chief Executive Officer Avelar Energy Group Switzerland Aly Aziz Chairman The Dashwood Group United Kingdom H.S.H. Prince Henri Founder GBA Belgium d'Arenberg Taqi A. Aziz Executive Director The Dashwood Group United Kingdom Douglas G. Bergeron Chairman and Chief Executive VeriFone Holdings Inc. USA Officer Pramod Bhasin President and Chief Executive Genpact Ltd India Officer Ankur Bhatia Executive Director The Bird Group India Fernando Bolaños Chief Executive Officer AgroAmerica Guatemala Valle Marwan M. Boodai Chief Executive Officer Boodai Corporation Kuwait Tim Brown Chief Executive Officer IDEO Inc. USA Martin Burt Founder and Chief Executive Fundación Paraguaya Paraguay Officer Cynthia Carroll Chief Executive Anglo American Plc United Kingdom Fabio Cavalli Chief Executive Officer and Chief mondoBIOTECH AG Switzerland Business Architect Eric Chen Managing Director Silver Lake Hong Kong SAR Chen Wenchi President and Chief Executive VIA Technologies Inc. Taiwan, China Officer Mathews A. P. Group Chief Executive Press Corporation Ltd Malawi Chikaonda Peter L. Corsell Chief Executive Officer GridPoint Inc. USA Fritz Demopoulos Chief Executive Officer Qunar.com Information Technology People's Republic Co. Ltd. of China Jay P. Desai Founder and Chief Executive Universal Consulting India Pvt. Ltd India Officer Nitin K. Didwania Managing Director Hazel Mercantile Limited India Thomas Enders Chief Executive Officer Airbus SAS France David J. Fear President ZBI Europe LLC United Kingdom Feng Dongming Chairman and Chief Executive Markor Investment Group Co. -
The Annual World Petroleum & Petrochemical Event
The Annual World Petroleum & Petrochemical Event The largest private exhibition company in China Top 10 Exhibition Companies in China Top 10 Influential Companies in China Exhibition Industry Vice-president Unit of China Convention and Exhibition Society Vice-chairman Unit of Exhibition Committee of China Chamber of International Commerce Zhenwei Exhibition, founded in 2000 and listed on New Three Board market on November 24, 2015 (innovation-layer enterprise, The significantly influential exhibitions held by Zhenwei Exhibition stock code: 834316), is the largest private exhibition company in China, one of the earliest Chinese members of UFI (Union of China International Petroleum & Petrochemical Technology and Equipment Exhibition (cippe) International Fairs), and vice-president unit of China Convention and Exhibition Society. Zhenwei Exhibition has developed into China (Tianjin) International Industrial Expo (CIEX) the industry-leading comprehensive service provider of global exhibition focusing on convention and exhibition and integrating exhibition & convention, digital information and e-commerce. Tianjin International Robot Exhibition (CIRE) Shanghai International New Energy Vehicle Industry Expo (NEVE) Headquartered in Binhai New Area, Tianjin and owns Tianjin Zhenwei, Beijing Zhenwei, Guangzhou Zhenwei, Xinjiang Zhenwei, Xi'an Zhenwei, Chengdu Zhenwei and Beijing Zhongzhuang Runda Exhibition. In 2015, Zhenwei Exihibition and Xinjiang China International Electric Vehicle Supply Equipments Fair (EVSE) International Expo Administration -
China's Digital Platform Economy: Assessing Developments Towards
MERICS REPORT CHINA’S DIGITAL PLATFORM ECONOMY: ASSESSING DEVELOPMENTS TOWARDS INDUSTRY 4.0 Challenges and opportunities for German actors Rebecca Arcesati | Anna Holzmann | Yishu Mao | Manlai Nyamdorj | Kristin Shi-Kupfer | Kai von Carnap | Claudia Wessling June 2020 MERICS REPORT | June 2020 | 1 CHINA’S DIGITAL PLATFORM ECONOMY: ASSESSING DEVELOPMENTS TOWARDS INDUSTRY 4.0 Challenges and opportunities for German actors Rebecca Arcesati | Anna Holzmann | Yishu Mao | Manlai Nyamdorj | Kristin Shi-Kupfer | Kai von Carnap | Claudia Wessling Content Acknowledgements ..................................................................................................... 7 Executive Summary ..................................................................................................... 8 1. Introduction: China’s push into the digital platform economy ............................... 13 2. The strategic context: Digital platforms play a critical role for Beijing’s industrial modernization plans ..............................................................................16 2.1 Beijing pursues ambitious targets for the development of digital industrial platforms ............................................................................................... 16 2.2 Platform development in China’s manufacturing industry is still in its infancy..... 18 2.3 China’s top-down approach to industrial digitalization reflects unique conditions ...19 3. The actors: China’s top-level design enables highly coordinated development of the industrial internet -
Chinese Construction Bank
China Construction Bank 2013 Tailored U.S. Resolution Plan Public Section 1 Table of Contents Introduction .................................................................................................................................................. 3 Overview of China Construction Bank Corporation ...................................................................................... 3 1. Material Entities .................................................................................................................................... 4 2. Core Business Lines ............................................................................................................................... 4 3. Financial Information Regarding Assets, Liabilities, Capital and Major Funding Sources .................... 5 3.1 Balance Sheet Information ........................................................................................................... 5 3.2 Major Funding Sources ................................................................................................................. 7 3.3 Capital ........................................................................................................................................... 7 4. Derivatives Activities and Hedging Activities ........................................................................................ 7 5. Memberships in Material Payment, Clearing and Settlement Systems ............................................... 7 6. Description of Foreign Operations .......................................................................................................