Skip to content
Catholic Online Logo

By Catholic Online (NEWS CONSORTIUM)

8/29/2012 (3 years ago)

Catholic Online (www.catholic.org)

Total value of loans from Chinese banks into the U.S. has reached $51 billion

China's top banks have increased their lending activities in the U.S. as companies here begin to diversify their funding sources, seeking to penetrate more deeply into the world's second-largest economy.

The fresh round of lending by Chinese banks comes as their balance sheets compare favorably with U.S. counterparts.

The fresh round of lending by Chinese banks comes as their balance sheets compare favorably with U.S. counterparts.

Highlights

By Catholic Online (NEWS CONSORTIUM)

Catholic Online (www.catholic.org)

8/29/2012 (3 years ago)

Published in Business & Economics

Keywords: China, lending, U.S. banks, money


LOS ANGELES, CA (Catholic Online) - "Many global banks have been deleveraging as a result of the 2008 global financial crisis and the debt crisis in Europe," Liao Qiang, Chinese banking analyst at Standard & Poor said. "Their retreat in lending markets provides opportunities for Chinese banks to deepen relationships with the multinational companies and steadily increase their international presence."

According to data from Dealogic, Chinese banks' share of U.S. syndicated lending has risen to 6.1 percent of the total market so far in 2012, which is up from 5.1 percent last year, So far this year, the total value of syndicated loans from Chinese banks into the U.S. has reached $51 billion.

The fresh round of lending by Chinese banks comes as their balance sheets compare favorably with U.S. counterparts.

Reflecting this new reliability, Standard & Poor's last year upgraded the long term credit ratings of Bank of China and China Construction Bank from A- to A. The credit rating agency maintained the rating of Industrial and Commercial Bank of China (ICBC) at A. The long-term credit ratings of Bank of America, Citigroup and Goldman Sachs were cut to A-, in the meantime.

Bank of China is also involved in a $1.4 billion syndicated loan to Zimmer Holdings, the medical device company, and Bank of East Asia is part of a $575 million loan syndication to Constellation Brands, the wine and beer group.

Industrial and Commercial Bank of China took part in an $11.8 billion syndicated loan for Wal-mart, the U.S. retailer.

General Manager of ICBC's New York branch, Bi Mingqiang, said the bank was seeking long-term lending relationships with U.S. companies which had a presence in China and elsewhere.

UPS says that linking with a Chinese bank has made it easier to conduct business in renminbi, while Dell said it had developed relationships with Chinese banks for the same reason.

CCB's clients include General Electric, and the bank has also had discussions with Caterpillar, Walt Disney, Tiffany and Cargill.

Head of Corporate Banking at CCB John Weinshank added that lending was only a starting point to extend into other businesses, such as deposit and trade finance.

CCB's lending business in the U.S. has risen from $600 million in 2009 to $2 billion this year, while ICBC, which established a New York branch in 2008, had made more than $1.3 billion of loans to U.S. companies at the end of 2011 compared with zero at the start of 2009.

.

---


Pope Francis: end world hunger through 'Prayer and Action'


Copyright 2016 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for May 2016
Universal:
Respect for Women: That in every country of the world, women may be honored and respected and that their essential contribution to society may be highly esteemed.
Evangelization: Holy Rosary: That families, communities, and groups may pray the Holy Rosary for evangelization and peace.



Comments


More Business & Economics

Obama brags in face of economic failure Watch

Image of The Obama administration claims the economy is thriving - but what is REALLY going on (TPNN)?

By Kenya Sinclair (CALIFORNIA NETWORK)

We all know "that guy." You know the one - the guy who is obsessed with conspiracy theories and who swears the government is out to get us. Well, according to newly released economic data, "that guy" might be (partially) right. LOS ANGELES, CA (Catholic Online) - U.S. ... continue reading


Yes, there's definitely something wrong with millennials, and here's what it is! Watch

Image of As far as millennials are concerned, the American dream is just that -- you have to be asleep to believe it.

By Marshall Connolly (CALIFORNIA NETWORK)

Across the country, the news is shocking. Over half of the millennials think socialism might be a good thing. Most of them believe the American dream is a myth, and public perception is that something is wrong with them. Why do they just want "free stuff?" LOS ANGELES, ... continue reading


Billionaire Soros warns China is near economic collapse Watch

Image of China's economy may be heading for trouble.

By Marshall Connolly (CALIFORNIA NETWORK)

Billionaire George Soros is sounding the alarm, China is about to go down and the rest of the world could follow. According to Soros, there is a major resemblance between China now and the United States in 2007-2008 just before the U.S. economy entered the Great ... continue reading


IRS issues dire warning before Panama Papers crackdown begins Watch

Image of The Panama Papers detail the tax evasion schemes of thousands of wealthy people around the world.

By Marshall Connolly (CALIFORNIA NETWORK)

The IRS has issued a warning to the rich who have been hiding money offshore - come clean now, before we catch you ourselves. The warning follows the leak of over 11 million pages of documents that detail the private, often hidden financial moves of wealthy people ... continue reading


Obama's Saudi masters order him not to sign 9/11 bill Watch

Image of It's not about the victims, it's about the Saudis.

By David Drudge (CALIFORNIA NETWORK)

Saudi Arabia is about to escalate their economic war with the United States should Congress pass a law that will allow victims of the 9/11  terrorist attacks to sue foreign states. The Obama administration opposes the bill and is lobbying against it. LOS ANGELES, ... continue reading


You won't believe how California's rich spend their money! Watch

Image of Top 1 percent pays nearly half of all California taxes (istockphoto).

By Kenya Sinclair (CALIFORNIA NETWORK)

When you think of California, images of sandy beaches, sun-kissed skin and Hollywood stars flash through your mind - and you're not wrong! California's rich enjoy all the sunny state has to offer - but at what cost? LOS ANGELES, CA (Catholic Online) - According to ... continue reading


Tesla KILLS American car industry in just 3 days. GOOD! Watch

Image of The Tesla Model 3 will sell for an average price of $42,000. Subsequent competition and models will reduce future prices even further.

By Marshall Connolly (CALIFORNIA NETWORK)

Tesla has blown away all predictions, selling over 276,000 pre-orders of their affordable Model 3 electric car, within 72 hours of going live. The massive public interest reveals a major shift in public preferences and should send shockwaves through the auto industry. ... continue reading


You won't believe what JUST happened to Walmart! Watch

Image of What does Walmart's revenue drop mean (WalmartDid).

By Kenya Sinclair (CALIFORNIA NETWORK)

The discount giant has received its first dip in revenue since its inception in 1996. Can the drop signify the beginning of the end? LOS ANGELES, CA (Catholic Online) - The digital age has marked a permanent shift in the way humanity perceives the world.One smartphone ... continue reading


Why Democratic Socialism is coming to America, whether you like it or not, and what you can do about it (but won't) Watch

Image of Presidential hopeful Bernie Sanders is a self-described democratic socialist. His movement is popular with millennials who are coming of age.

By Marshall Connolly (CALIFORNIA NETWORK)

America is in more trouble than people realize and here's why. The middle class is becoming poor, and as the ranks of the poor grow, our national politics will change. LOS ANGELES, CA (California Network) - The United States is changing and many people are having a ... continue reading


You'll never believe what the U.S. government is doing with $917 billion Watch

Image of How much do YOU owe (Shutterstock)?

By Kenya Sinclair (CALIFORNIA NETWORK)

How often do you swipe your credit card without considering your credit limit? When you don't have funds in your checking account, do you turn to credit cards to cover groceries, outings or bills? Have you considered what that credit card debt can do on a larger scale? ... continue reading


All Business & Economics News

Newsletters

Newsletter Sign Up icon

Stay up to date with the latest news, information, and special offers

Subscribe to Catholic OnlineYouTube Channel

the FEED
by Catholic Online

  • Daily Reading for Monday, May 9th, 2016 HD Video
  • Historical Jubilee documents on display!
  • The gruesome way scientists are killing unborn babies in school ...
  • Daily Reading for Tuesday, May 10th, 2016 HD Video
  • Bl. Edward Jones: Saint of the Day for Friday, May 06, 2016
  • Daily Readings for Friday, May 06, 2016
  • 'The doctors were shocked': Conjoined twins share unusual bond

Daily Readings

Reading 1, Acts 1:1-11
1 In my earlier work, Theophilus, I dealt with everything Jesus had done ... Read More

Psalm, Psalms 47:2-3, 6-7, 8-9
2 For Yahweh, the Most High, is glorious, the great king over all the ... Read More

Gospel, Luke 24:46-53
46 and he said to them, 'So it is written that the Christ would suffer ... Read More

Reading 2, Ephesians 1:17-23
17 May the God of our Lord Jesus Christ, the Father of glory, give you a ... Read More

Saint of the Day

Saint of the Day for May 5th, 2016 Image

St. Hilary of Arles
May 5: Bishop of Arles, France, and friend and relative ... Read More