New vice governor of central bank appointed
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China's business press carried the following stories on Thursday. China.org.cn has not checked the stories and does not vouch for their accuracy.
New vice governor of central bank appointed—Caijing Magazine
Du Jinfu, a former assistant to the governor of the People's Bank of China, China's central bank, has been appointed one of the bank's vice governors, to replace Zhu Min who took office as an advisor to the IMF in early May.
Other management changes are under way at the bank. 63-year-old vice governor Su Ning is to leave his current job to replace Liu Tinghuan as chairman of China Union Pay; another vice governor, Ma Delun, will move to a Hong Kong financial institution, a person close to the issue divulged.
Bank of Beijing plans 10 bln yuan?subordinated bonds issue—Beijing Times
Bank of Beijing, a mid-sized lender based in the capital, announced yesterday it is to issue up to 10 bln yuan worth of subordinated bonds to replenish its capital base and ensure future expansion. It is the latest, also the last, listed bank to unveil fund-raising plans.
Bank of Beijing's capital adequacy ratio fell from 19.66 percent at the end of 2008 to 14.35 percent at the end of 2009, but the figure still ranked first among Chinese listed banks, according to its annual report to the Shanghai Stock Exchange.
Executive pay in listed firms fell last year-- National Business Daily
Average executive pay in China's top 100 listed companies dropped to 471,600 yuan in 2009, down?20 percent from 583,900 yuan in 2008, according to a report co-published yesterday by the Chinese Academy of Social Sciences and Protiviti, a global business consulting firm.
The report shows China Merchants Bank topping the executive pay list for the second time in a row, followed by China Minsheng Banking Co. and China Citic Bank
The report ascribes the drop to a cut in bonuses and a fall in dividends from shareholdings.
