By disposing of bad debt and restructuring itself into a joint-stock venture, ICBC posted handsome profits, which may help attract investors in its new share sale.
More Quotes from Wu Zhiguo:
The bonds were forecast to jump as their government backing means little risk to investors. As the country's stock markets still face policy uncertainties, these bonds provide a haven for investors.Wu Zhiguo
The declines were largely due to lack of confidence. Worries over weak corporate governance, brokers' scandals and an equity oversupply weighed on the bourses.
Wu Zhiguo
Stiffer competition from bigger state-owned banks may have contributed to the earnings drop. Besides, costs probably rose as the bank was on track to expand out of the city.
Wu Zhiguo
Competition is set to intensify. For investors, it's encouraging to see more products, which mean more channels for diversifying investments. But regulators must work out rules to prevent risks.
Wu Zhiguo
It's another stimulus the government wants to adopt to invigorate the market by bolstering trading in the long term.
Wu Zhiguo
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