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MarketScreener Homepage  >  Equities  >  Hong Kong Stock Exchange  >  Bank of China Limited    3988   CNE1000001Z5

BANK OF CHINA LIMITED

(3988)
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China eases cross-border yuan policy to help trade and investors: central bank

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09/18/2020 | 07:12am EDT
China mourns for coronavirus (COVID-19) victims on Qingming tomb sweeping festival

China will make it easier for firms to make cross-border yuan settlements on foreign trade, and relax some curbs on foreign investment, the central bank said on Friday, as part of steps to support economic recovery.

Fears in China of a deepening financial war with the United States have fuelled calls to bolster the yuan's global clout as Beijing looks to decrease reliance on the dollar.

China will give banks more leeway in handling cross-border yuan settlements in foreign trade for qualified firms, according to draft guidelines issued by the People's Bank of China.

China will relax restrictions on use of yuan income under some capital account categories, including repatriated funds raised from overseas stock listings, and remove curbs on the reinvestment of yuan funds by some foreign-funded firms, the guidelines said.

China will also support banks to provide yuan payment services for e-commerce companies, and individuals will be supported in conducting cross-border yuan business.

(Reporting by Lusha Zhang and Kevin Yao; Editing by Kevin Liffey)


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Financials
Sales 2020 570 B 85 267 M 85 267 M
Net income 2020 173 B 25 819 M 25 819 M
Net Debt 2020 - - -
P/E ratio 2020 3,89x
Yield 2020 7,98%
Capitalization 871 B 130 B 130 B
Capi. / Sales 2020 1,53x
Capi. / Sales 2021 1,45x
Nbr of Employees 306 232
Free-Float 99,0%
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 3,03 CNY
Last Close Price 2,25 CNY
Spread / Highest target 77,6%
Spread / Average Target 34,8%
Spread / Lowest Target 1,28%
EPS Revisions
Managers
NameTitle
Jiang Wang Vice Chairman & President
Xi Quan Wang Chairman-Supervisory Board
Lian Ge Liu Chairman
Liu Qiuwan Chief Information Officer
Chang Yun Wang Independent Non-Executive Director
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