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Last updated at: (Beijing Time) Friday, August 01, 2003

Construction Bank Sees Sharp Rise in Bill Business

The China Construction Bank (CCB),one of the four China's state-owned commercial banks, witnessed a sharp rise in its bill discount business in the first half of thisyear, a CCB spokesman announced here Thursday.


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The China Construction Bank (CCB),one of the four China's state-owned commercial banks, witnessed a sharp rise in its bill discount business in the first half of thisyear, a CCB spokesman announced here Thursday.

The bank did 177.6 billion yuan (22.2 billion US dollars) in the business during the period, exceeding its annual target of 170billion yuan, an increase of 349 percent over the same period last year.

The CCB saw much potential to develop its business in China's bill market, which had grown rapidly since 2000, the spokesman said.

CCB statistics show China's financial bill discount surplus only reached five percent of the total loan balance of all Chinese financial institutions.

The CCB had reinforced its centralized and professional management of the bill business and formulated a number of regulations to improve its internal control system, the spokesman added.


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