City St.Paul Budgets,Blogs,Babes,Bills,Bingo,SharonAnderson,akaPeterson-Chergosky,Scarrella


Sunday, January 27, 2008

City St. Paul Bonde to China's Banks?

Also at and at

Breaking News from

China's $119 Billion in Bank ‘Irregularities’

China’s bank regulators are busy drawing up new regulations on the heels of $119 billion in unspecified banking "irregularities”, an amount that would make even the most troubled U.S. bank blush and far outstrips the $7.1 billion blown by a French trader this week.

"We must strengthen our regulatory capacity and nip these risks in the bud,” Chinese bank regulator Liu Minkang noted on the agency’s Web site.

The total amount of irregularities found equals almost three times the profits of the country’s top five state-owned banks. However, regulators say they found fewer problems this time than they did a year ago.

Regulators’ findings triggered removals from office of 117 bank managers and fines levied against 12,687 people following investigations.

Store continues below . . .

FIR Was Dead-on With our Predictions in 2007. Don’t Miss our 2008 Forecast!

Get your FREE Copy Now

This time last year our Financial Intelligence Report made some bold predictions for 2007, and hit the bulls-eye on almost every one including skyrocketing gold, crashing dollar, sub-prime crash, credit crunch and more.

Today we’ve just released our 2008 Forecast and it’s jam packed with the latest profit opportunities for the coming year. This year will present unique dangers and opportunities for investors — so act now and be sure to be on the profitable side of this years emerging economic trends.

The Shanghai Daily reported that regulators found a total of 445 cases of irregularities at the 79,200 banks, bank branches and sub-branches they examined—down 58.4 percent from the total reported a year ago.

China must set up a standardized system to punish and fine perpetrators, making the costs of committing wrongdoings higher than the potential gains, Minkang wrote.

According to, the amount of money involved in the irregularities at Industrial & Commercial Bank of China Ltd., Bank of China Ltd. and the country's other three State-owned banks is down by 69 percent over last year.

Also on a more positive note, combined profits for Chinese banks rose to 298.7 billion yuan at the end of 2007, up from 36.4 billion yuan in 2002.

Editor’s Note: Special: Market Crashes, The ETF Strategist Makes +29% Profit. Act Now.

Bloomberg reported that ICBC, the world's biggest bank by market value, Bank of China, China Construction Bank Corp. and Bank of Communications Co. had average returns of 1.1 percent on their assets last year, while their mean non-performing loan ratio stood at 2.87 percent.

At the end of 2007, five Chinese banks had control or hold stakes in overseas financial players and seven had 60 overseas outlets with overseas assets of more than $167.4 billion.

Domestic banks, including their investments and branches abroad, had a total of $267.4 billion in overseas assets at the end of last year.

Twenty-one overseas banks — including HSBC, Citibank, BEA, Standard Chartered Bank, OCBC, Deutsche Bank and Hang Seng Bank — have been incorporated in China and are seeking unlimited retail yuan services.

Editor's Notes:

This e-mail is never sent unsolicited. You have received this Newsmax e-mail because you subscribed to it or someone forwarded it to you. To opt out, see the links below.


For information on advertising at, please contact Newsmax Advertising Sales via e-mail.


If this News Alert has been forwarded to you and would like a subscription, please sign up for Newsmax e-mail alerts.

Remove your e-mail address from our list or modify your profile. We respect your right to privacy. View our policy.

This e-mail was sent by:
4152 West Blue Heron Blvd, Ste 1114
Riviera Beach, FL, 33404 USA