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tsearchr Home Market, page 17
~ The EO has learned that the Postal Savings Bank of China (PSBC 中国邮政储蓄银行) was given approval on Dec 31 last year to reform its share holding structure and as of Jan 21, the company has officially changed its name to "China Postal Savings Bank Co., Ltd" (中国邮政储蓄银行股份有限公司). The move follows the announcement that the bank's parent company has been given the green light to list another of its subsidiaries, the China Postal Express & Logistics Corporation, on the Shanghai Board.
~ PSBC is a commercial retail bank that was founded almost five years ago as part of reforms that saw business operations hived off from China's postal regulator. The bank has more branches than any other bank in the country. It operates under the control of the China Post Group Corporation which in turn is administered by the Ministry of Finance. By the end of 2010, the bank had 544.3 billion yuan worth of various loans on its books, while deposits at the banks had increased by almost 25 percent on the previous year to 3.26 trillion yuan.
~ In 2010, the bank made 11.4 billion in net profits and possessed assets of over 3.3 trillion yuan. To provide a comparison, China's Bank of Communications, often considered China's 5th largest bank after the "Big Four," had assets of 3.9 trillion and made profits of 39 billion over the same period. A smaller bank like China Merchants Bank with assets of only 2.4 trillion yuan, was able to make 25.7 billion in net profits that year. As of March 2010, China's largest bank by profit and market capitalization (ICBC) had assets of RMB 12.55 trillion.
~ When it was first established, the PSBC committed itself to providing services to both urban and rural areas, to supporting agriculture and also to paying attention to providing financial services to small and very small businesses. It is often referred to as "China's Wells Fargo," due to the fact that like the American bank, it also specializes in providing small loans to rural customers.
~ PSBC has many obvious advantages, including the fact that its loan-to-deposit ratio is currently less than 20 percent; the proportion of bad loans on its books are extremely low and the banks share of total deposits is significant.
~ However, there are also problems need to be solved. The EO learned that the audit result by National Audit Office shows that the postal savings bank itself has various problems in relation to its corporate management.
~ According to an unnamed source, many strategic investors are interested in purchasing a significant share in the bank. Among foreign investors, J.P. Morgan has shown the most interest. But another source told the EO that the investment foreign capital may not be the bank's first choice, on the contrary, the China Post Group (the bank's parent company) may be more interested in attracting investment from large domestic financial institutions.
Original article: [Chinese]
iPad Trademark Battle Heats Up
Corporation, page 25
~ The trademark battle between Proview Technology (Shenzhen) Co., Ltd. (唯冠科技（深圳）有限公司), a Shenzhen-based electronics manufacturer, and global computing giant Apple is spiraling into an all-out war.
~ Proview, a Hong Kong-listed maker of computer displays, owns the iPad trademark through its Shenzhen unit and has been unable to reach an agreement with Apple over use of the name. As the dispute over who owns the trademark heats up, officials from local-level administrations of industry and commerce in some Chinese provinces have started to investigate stores that are selling Apple's iPad, some of these officials have started seizing iPads.
~ In April, 2010, the Shenzhen Intermediate People's Court accepted Apple and IP's (IP Application Development in Britain) complaint against Shenzhen Proview Technology, claiming that they own the iPad trademark in mainland China.
~ After three hearings were held in January, August and December last year, the court rejected Apple's appeal in December and Apple has since appealed to a higher court.
~ If the final appeal, which is to be heard by Guangdong Higher People's Court, affirms the original judgement handed down in December, outlets in mainland China might be prevented from stocking Apple's tablet computer and Apple may also face a fine of over 30 billion yuan.
~ The administrations of commerce and industry of some cities in Shandong and Jiangsu Provinces have begun to investigate stores selling iPads. Officials in other cities say they are watching developments closely.
Original article: [Chinese]