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Daily Dispatches: China raises reserve requirements

China yesterday asked banks to freeze more money from lending through a higher reserve requirement, the third move this year amid growing concerns of asset bubbles and economic overheating. (Shanghai Daily)

China Construction Bank plans to raise up to US$11bn by issuing new stock to replenish capital following a lending boom last year.
(Shanghai Daily)

US billionaire Warren Buffett said on Saturday that China is an amazing economy and the Chinese people will be living better lives in 20 years than today. (China.org.cn)

Foreign private banks operating in the booming Asian market cannot find assets to expand through acquisition and face a critical shortage of experienced staff, according to senior regional executives. (Financial Times)

ANZ has ruled out making an offer for AXA Asia Pacific as National Australia Bank is believed to have begun sounding out the corporate regulator to try to rescue its blocked A$13bn bid for the wealth management group. (Sydney Morning Herald)

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