China Construction Bank (PK) (CICHF) News

Maybe currency?

why is there huge sock price difference here and Honk Kong?
This is one of CITI's favorite buys along with Bank of China..

Looks like some of the actions MAY? be starting

I am trying this out alittle...looking LONG term here.....so far all they have given me is 1000

CCB to Invest More in Rural Financial Infrastructure

BEIJING, Dec 16, 2008 (SinoCast Daily Business Beat via COMTEX) -- China Construction Bank (CCB; SHSE: 601939; SEHK: 0939) lately announced that it would invest more in the rural financial infrastructure construction by itself or together with some foreign partners, in line with its strategic transformation scheme.
From now on, the Beijing-located joint-stock commercial lender plans to buy into a batch of rural financial institutions and to establish a village bank network covering more provinces and cities step by step. On December 9, 2008, the first village bank sponsored by CCB started operation in the central Chinese county of Taojiang, Hunan Province.

CCB had had outstanding agriculture-related loan of CNY 407.9 billion as of September 30, 2008, rising CNY 72.46 billion or 17.7% from early this year, and the newly-added loan for rural residents had largely hiked 80.9% to CNY 4.06 billion.

In addition, total outstanding loan the bank provided for infrastructure construction in the poverty-stricken areas in Central and West China had hit CNY 168.15 billion, with a growth of CNY 25.56 billion or 17.9%.



Source: www.cnstock.com (December 16, 2008)

Copyright 2008 SinoCast Daily Business Beat. All rights reserved

Bank of America Denied Selling of 6bn CCB Shares

BEIJING, Dec 16, 2008 (SinoCast Daily Business Beat via COMTEX) -- Sources said that Bank of America (BOA) intended to sell 6 billion shares of its peer China Construction Bank (CCB; SHSE: 601939; SEHK: 0939) for USD 3 billion, but the US lender gave a denial yesterday.
As early as October 2005, BOA had spent USD 2.5 billion buying 17.5 billion H shares of the Beijing-based joint-stock commercial lender, before the latter got listed on the Stock Exchange of Hong Kong. When CCB launched its Hong Kong IPO, BOA subscribed for additional 1.66 billion CCB shares for CNY 5 billion.

These 19.133 billion H shares of CCB should be restricted on the Hong Kong bourse until October 27, 2008, according to related regulations. Nearly seven months ago, the US bank invested USD 1.86 billion in a purchase of 6 billon more shares of CCB, taking a 10.8% stake in amount.

In October 2008, the BOA Spokesman Robert Stickler announced that the American lender would like to lift its holding in CCB in the near future.

Somebody is shorting the dog stuffin' out of it!

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=cichf

This will require some time to prep -- one the economy gets stable and money flows freely again, CICHF will see better days. As for now, let the shorts deal w/ it.

People are playing hard head this morning, not wanting to pay the Bid/ask ah?........... Both increases waiting to happen!

Lets see if she stays in the green for a little push to recovery.

Time to Make money!!!!!

REMINDER
Announcement on Charges of CCB’s Mobile Phone Banking Services
Published time： 2007-12-28

Dear Customers:

Last July, with the publication of CCB’s tariff for mobile phone banking services for China Mobile customers, a promotion discount of 50% from August 1st to December 31st 2007 was implemented. Now the promotion period is about to end and CCB will soon enforce its normal tariff. In other words, new customers will be able to experience all functions of the mobile phone banking services free of charge for one month. For customers whose charge-free period has expired, they can continue to use the balance enquiry function free of charge. If they wish to use such value-added functions as transfers, remittances, investment management, etc, they can opt to become a subscribing customer for a fee of six yuan per month.

The above arrangements are applicable only to CCB's China Mobile using customers. For CCB’s China Unicom users, their current tariff is still applicable. For enquiries, please contact 95533.

Need DD on CICHF? Look here:

http://www.stockwire.com/component/option,com_joomlaboard/Itemid,199/func,showcat/catid,374/