--File--Pedestrians walk past a branch of Bank of Communications (BoCom) in Chongqing, China, 28 March 2012. Bank of Communications has got approval
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Contributor:
Imaginechina Limited / Alamy Stock PhotoImage ID:
W96CGYFile size:
34.8 MB (1.4 MB Compressed download)Releases:
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4272 x 2848 px | 36.2 x 24.1 cm | 14.2 x 9.5 inches | 300dpiDate taken:
28 March 2012Photographer:
ImaginechinaMore information:
--File--Pedestrians walk past a branch of Bank of Communications (BoCom) in Chongqing, China, 28 March 2012. Bank of Communications has got approval from Chinas securities regulator to sell up to 56.6 billion yuan of public traded shares-29.8 billion of A-shares-to private investors, in a bid to replenish capital for higher capital ratios, the Peoples Daily reported. The move, according to the official newspaper, is of great significance to the financial sector and Chinas banking industry. Selected investors in the private investment in public equity (PIPE) include the Ministry of Finance, the pension fund and big institutions like HSBC. The move has deepened the stock markets because of the money coming off the sidelines, rather than taking blood, the newspaper said.