金融英语阅读:通用电器公司收购中国深圳发展银行7%股份
文章来源: 文章作者: 发布时间:2008-11-04 02:42 字体: [ ]  进入论坛
(单词翻译:双击或拖选)

GE to buy 7 percent stake in Chinese bank

  SHANGHAI, China (AP) —— General Electric Co. plans to buy a 7 percent stake in China's Shenzhen Development Bank in the latest foreign strategic investment in China's increasingly competitive banking1 market, reports said Thursday.

  Through the purchase, valued at about $100 million, GE Consumer Finance hopes to gain entry into China's developing personal loan market, the reports said.

  The two sides held a signing ceremony for the deal at Beijing's International Club on Wednesday, with an official announcement expected once relevant government departments approve the deal, the state-run China Securities Journal reported.

  It said a reporter for the newspaper was barred from attending the signing ceremony by company executives who were "strictly2 blocking" any news of the deal.

  Trading in Shenzhen Development Bank's shares was suspended on the Shenzhen Stock Exchange beginning Wednesday pending3 an "important event to announce," the company said in a legal notice.

  U.S. private-equity company Newbridge Capital already has a controlling stake of nearly 18 percent in the bank, based in the southern city of Shenzhen, which borders Hong Kong.

  China limits total foreign investment in any single bank to under 25 percent. The GE purchase would put the total foreign stakes in the bank at about that limit.

  The purchase would bring to Shenzhen Development Bank much needed capital, media reports said. According to the China Securities Journal, the agreement also calls for the two to cooperate in developing information technology systems for the bank.

  According to statements posted on GE's Web site, the company has a goal of reaching $5 billion in sales in 2005 —— spanning a wide range of industries.

  China's banking industry is due to fully4 open to foreign competition in late 2006, and foreign banks and other financial institutions recently have stepped up investments, with a slew5 of deals announced in the past few months.

  Swiss bank UBS AG announced Tuesday a 645 million Swiss francs ($500 million) investment in state-owned Bank of China, the nation's second-largest bank, to create a partnership6 in investment banking and securities services for Chinese clients.



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1 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。
2 strictly GtNwe     
adv.严厉地,严格地;严密地
参考例句:
  • His doctor is dieting him strictly.他的医生严格规定他的饮食。
  • The guests were seated strictly in order of precedence.客人严格按照地位高低就座。
3 pending uMFxw     
prep.直到,等待…期间;adj.待定的;迫近的
参考例句:
  • The lawsuit is still pending in the state court.这案子仍在州法庭等待定夺。
  • He knew my examination was pending.他知道我就要考试了。
4 fully Gfuzd     
adv.完全地,全部地,彻底地;充分地
参考例句:
  • The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气,然后全部呼出。
  • They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。
5 slew 8TMz0     
v.(使)旋转;n.大量,许多
参考例句:
  • He slewed the car against the side of the building.他的车滑到了大楼的一侧,抵住了。
  • They dealt with a slew of other issues.他们处理了大量的其他问题。
6 partnership NmfzPy     
n.合作关系,伙伴关系
参考例句:
  • The company has gone into partnership with Swiss Bank Corporation.这家公司已经和瑞士银行公司建立合作关系。
  • Martin has taken him into general partnership in his company.马丁已让他成为公司的普通合伙人。
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