China may inject $40 bln into ABC

时间：2007-08-07 03:23:26

（单词翻译:单击）

BEIJING, Aug. 6 - Central Huijin, China's state-owned investment company, plans to inject 40 billion U.S. dollars into the Agricultural Bank of China (ABC), the only one of the big four state-owned commercial banks that remains1 unlisted, the Economic Observer newspaper reported.

 

The injection would mark a major step in ABC's shareholding2 reform. It would raise ABC's capital adequacy ratio to eight percent, the required ratio for commercial banks in China.

 

The shareholding reform of the ABC, which began in February this year, is the last and the toughest piece of the move to overhaul3 the country's state-owned banks started in 2003.

 

The other three banks, the Bank of China, the Industrial and Commercial Bank of China, and the Construction Bank of China has completed reform and gone public by October last year.

 

"The reform of the ABC is particularly difficult because the bank's historical burden is relatively4 heavier," said Jiang Dingzhi, vice5 chairman of China Banking6 Regulatory Commission (CBRC).

 

The 2006 annual report of the bank recorded a capital of 84 billion yuan (11.1 billion U.S. dollars) and a 23.43 percent non-performing loan ratio.

 

The key of the ABC's reform lies in how to combine the government-designated function to support agricultural development and the application of commercial rules, said the newspaper.

 

The government is auditing7 the bank's financial record, which will provide important reference for deciding how much in total would be injected into the bank, said the CBRC vice chairman.

 
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1 remains 1kMzTy     
n.剩余物，残留物；遗体，遗迹
参考例句：
  • He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
  • The remains of the meal were fed to the dog.残羹剩饭喂狗了。
2 shareholding d50815e5b4fdfade1f68dd62ed15450a     
n.股权
参考例句：
  • Shareholding commercial banks must exercise an independent system of board of directors. 股份制商业银行必须实行独立董事制度。 来自互联网
  • Asset re-structuring: to conduct shareholding reform for high quality assets. 资产重组：对优质资产进行股份制改造。 来自互联网
3 overhaul yKGxy     
v./n.大修，仔细检查
参考例句：
  • Master Worker Wang is responsible for the overhaul of this grinder.王师傅主修这台磨床。
  • It is generally appreciated that the rail network needs a complete overhaul.众所周知，铁路系统需要大检修。
4 relatively bkqzS3     
adv.比较...地，相对地
参考例句：
  • The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
  • The operation was relatively painless.手术相对来说不痛。
5 vice NU0zQ     
n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的
参考例句：
  • He guarded himself against vice.他避免染上坏习惯。
  • They are sunk in the depth of vice.他们堕入了罪恶的深渊。
6 banking aySz20     
n.银行业，银行学，金融业
参考例句：
  • John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
  • He possesses an extensive knowledge of banking.他具有广博的银行业务知识。
7 auditing JyVzib     
n.审计，查账，决算
参考例句：
  • Auditing standards are the rules governing how an audit is performed.收支检查标准是规则统治一个稽核如何被运行。
  • The auditing services market is dominated by a few large accounting firms.审计服务市场被几家大型会计公司独占了。

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