Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Industrial and Commrcl Bank of China Ltd    601398   CNE000001P37

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

General Electric, China's Silk Road Fund to launch energy investment platform

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/10/2017 | 03:12am CET
Logo of General Electric Co. is pictured at the Global Operations Center in San Pedro Garza Garcia

General Electric Co (>> General Electric Company) and a Chinese state fund set up for the Belt and Road trade initiative plan to jointly establish an energy infrastructure investment platform, China's government said.

General Electric Co (>> General Electric Company) and a Chinese state fund set up for the Belt and Road trade initiative plan to jointly establish an energy infrastructure investment platform, China's government said.

The announcement came on the sidelines of a state visit to Beijing by U.S. President Donald Trump, who has been looking to rev up U.S.-China trade.

The Silk Road Fund and GE Energy Financial Services signed a "cooperation" deal to set up the platform in Beijing, the State Administration of Foreign Exchange (SAFE) said in a statement dated Thursday and seen by Reuters on Friday.

"The two sides will jointly invest in electric power grids, new energy and oil and gas, in countries and regions along the Belt and Road," SAFE said.

"The cooperation between the Silk Road Fund and GE will not only boost cooperation between high-end manufacturing industries from China and the U.S., but also promote economic and trade development in the regions where of investment," SAFE added.

The step was part of a flurry of deals between GE and Chinese companies. These included an engine and repair deal for GEnx-1B engines from Juneyao Airlines Co Ltd (>> Juneyao Airlines Co Ltd) worth $1.4 billion at list prices, and another $1.1 billion order for 80 Leap-1B engines to power 40 Boeing 737 MAX Aircraft from ICBC Leasing, the leasing arm of state bank Industrial and Commercial Bank of China Ltd (>> Industrial and Commrcl Bank of China Ltd).

The Silk Road Fund was set up at the end of 2014 and is backed by China's foreign exchange reserves, China Investment Corp, the Export-Import Bank of China and the China Development Bank.

(This story has been refiled to clarify that government statement was dated Thursday)

(Reporting by Engen Tham; Editing by Joseph Radford)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on INDUSTRIAL AND COMMRCL BAN
11/18 INDUSTRIAL AND COMMRCL BANK OF CHINA : Practical socialism
11/17 RATING ACTION : Moody's assigns (P)A1 to Tewoo Group No 4 Limited's bonds and su..
11/17 China's Huishan Dairy tells lawyers to ready for liquidation
11/16 INDUSTRIAL AND COMMRCL BANK OF CHINA : Driven to distraction
11/15 PEAK POSITIONING TECHNOLOGIES : Subsidiary Welcomes First of 40,000+ ICBC SME Cl..
11/14 INDUSTRIAL AND COMMRCL BANK OF CHINA : Operation Red Nose Ridge Meadows celebrat..
11/10 General Electric, China's Silk Road Fund to launch energy investment platform
11/09 Boeing signs deal to sell 300 planes worth $37 billion to China
11/09 General Electric signs $3.5 billion deals in China
11/09 General Electric signs $3.5 billion deals in China
More news
News from SeekingAlpha
07/07 The World's Most Valuable Brands Trading At Below-Market Valuations
05/10 Sifting The Price Difference Between A Shares And H Shares (AH Premium) For V..
04/28 Bank Of China Appears Undervalued--But There Is A Catch
04/27 THE GLOBAL SYSTEMICALLY IMPORTANT BA : An Update
03/02 BANK OF CHINA : A Good Value Play
Financials ( CNY)
Sales 2017 687 B
EBIT 2017 437 B
Net income 2017 283 B
Debt 2017 -
Yield 2017 3,88%
P/E ratio 2017 7,60
P/E ratio 2018 7,25
Capi. / Sales 2017 3,03x
Capi. / Sales 2018 2,82x
Capitalization 2 081 B
Chart INDUSTRIAL AND COMMRCL BAN
Duration : Period :
Industrial and Commrcl Ban Technical Analysis Chart | 601398 | CNE000001P37 | 4-Traders
Technical analysis trends INDUSTRIAL AND COMMRCL BAN
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 6,36  CNY
Spread / Average Target 5,5%
EPS Revisions
Managers
NameTitle
Shu Gu President & Executive Director
Hui Man Yi Chairman
Wen Hui Qian Chairman-Supervisory Board
Wen Wu Zhang General Manager-Finance & Accounting
Wei Zhang Member-Supervisory Board & GM-Legal Affairs
Sector and Competitors
1st jan.Capitalization (M$)
INDUSTRIAL AND COMMRCL BANK OF CHINA LTD36.73%314 244
JP MORGAN CHASE & COMPANY13.73%340 519
BANK OF AMERICA20.45%277 663
WELLS FARGO-1.74%266 844
CHINA CONSTRUCTION BANK CORPORATION28.49%235 330
BANK OF CHINA LTD13.95%207 269