The central government is planning to provide more support for the development of western China, Premier Wen Jiabao said in a recent speech reported by the official Xinhua news agency.
The government is firmly committed to its western development strategy, Wen.

Full article in Chinese: http://www.bocvip.com/2009-10-19/110286763.html

Basic financial services will be available in all towns within about three years, Liu Mingkang, chairman of the China Banking Regulatory Commission, said at a town financial service meeting on Oct. 16.
China still had 2,945 towns without bank outlets as of June 30, with 708 having no financial services, according to the CBRC.

A government goal to boost tax revenues 8.2 percent this year may be unreachable. But ambitious state tax collectors aren't giving up.

By staff reporters Wang Changyong, Yu Ning and Wang Ziwu

China Construction Bank will continue lending for the infrastructure sector next year, since it has established an advantage in the field, bank chairman Guo Jianqing said on Oct. 15.
The bank will also make an effort to increase lending to smaller firms and individuals next year, Guo said in an interview with Caijing and several other media organizations.
From wires

Full article in Chinese: http://www.bocvip.com/2009-10-16/110284139.html

China should raise the proportion of outward direct investment in total overseas investment to between 20 and 40 percent from the present 6 to 7 percent, Guo Shuqing, chairman of China Construction Bank, said on Oct. 15.
Increased outward investment can contribute to expanding sources of capital for developing countries, raising supplies of commodities and diversifying China's overseas investments.

Full article in Chinese: http://www.bocvip.com/2009-10-16/110284148.html

HSBC Ltd. has appointed Liu Che Ning, former managing director at Morgan Stanley (Asia) Ltd., to become head of its global banking department in Hong Kong and the Chinese mainland, the bank said in an Oct. 15 statement.
Liu will be responsible for "building and extending client coverage and advisory business in Hong Kong and mainland China," the statement said.

China's sovereign wealth fund has no intention to withdraw from Nobel Oil Group in the face of the Russian firm's listing in Hong Kong.

By staff reporters Wang Duan and Li Qing

Full article in Chinese: http://www.bocvip.com/2009-10-15/110283669.html

China Investment Corp., the country's sovereign wealth fund, has named Zhao Haiying as deputy general manager of its investment subsidiary, Central Huijin Investment Ltd., CIC said in an internal circular on Oct. 15.
Zhao, 44, has previously served as head of strategic research and asset allocation at CIC. She was also head of a non-banking department at Central Huijin.

Full article in Chinese: http://www.bocvip.com/2009-10-15/110283618.html

The Shenzhen Stock Exchange said it released guidelines on Oct. 15 restricting the use of the excess funds from larger-than-expected IPOs on the Growth Enterprise Market.