According to Ouyang Weimin, the director of the Payment System Department of the People's Bank of China, PBOC plans to issue licenses to Chinese online third-party payment platforms to bring more competition and a higher level of security into this sector of the industry.

Chinese apparel maker and retailer Baoxiniao has announced plans to raise up to CNY800 million finance for the opening of 178 new stores by issuing new shares.

The Industrial and Commercial Bank of China has reached an agreement with the Bank of East Asia on an equity transaction, in which ICBC will acquire a 70% stake in the Canadian subsidiary of BEA for CAD80.25 million.

Offshore software development company VanceInfo Technologies Inc. will deploy an outsourced development center for China Merchants Bank.

TSYS today announced that China UnionPay Data Services Company, TSYS' joint venture with China UnionPay, has signed a long-term credit card processing agreement with the Bank of East Asia.

HSBC China has published its 2008 corporate social responsibility report detailing its activities on the Chinese mainland.