‘Big Four’ banks lend US$34.7b in Aug.

CHINA’S four biggest State-owned banks lent 220 billion yuan (US$34.7 billion) in August, flat from July, the 21st Century Business Herald reported yesterday.

The report, citing unnamed sources, also said the new lending in China Development Bank Corp. (CDB) and Bank of Communications Co. Ltd. were at 60 and 20 billion yuan respectively.

New deposits taken by China’s four biggest banks in August hit 280 billion yuan, the paper said.

China’s “Big Four” banks are the Industrial and Commercial Bank of China Ltd., China Construction Bank Corp., Bank of China Ltd. and Agricultural Bank of China Ltd. They account for between 30 to 40 percent of total bank lending in the world’s second-largest economy. In July, the “Big Four” banks lent 220 billion yuan, up 30 billion yuan from June.

Samsung to review 250 Chinese suppliers

SAMSUNG Electronics Co. said Monday it would inspect 250 Chinese companies which make products for the South Korean firm to ensure no labor laws are broken after a U.S.-based group accused one of its suppliers of using child labor.

Samsung also said its audit into working conditions at an HEG Electronics facility in Huizhou City in Guangdong Province found no under-aged workers. New York-based China Labor Watch said last month seven children younger than 16 were working in the factory that makes phones and DVD players for Samsung. But Samsung said the audit identified several instances of inadequate management and potentially unsafe practices such as overtime beyond local regulations, improper safety measures and a system of fines for tardiness or absences.

China pushes for regional energy club

CHINA has been actively pushing for the establishment of a semi-official multilateral platform for energy cooperation, particularly with its neighbors in central Asia, an industry official said yesterday.

National Energy Administration official Wei Xiaowei said an “energy club” would allow Shanghai Cooperation Organization (SCO) members and observers to expand energy cooperation and provide guidance for enterprises.