Reuters exclusive on possible delay in China CCB $11 billion fundraising

Reuters scored a major exclusive on May 20, with news from an interview with Guo Shuqing, head of China Construction Bank, that the world’s second-largest lender may delay its much-anticipated $11 billion fundraising plan to early next year due to uncertain market conditions. This was the first comment by any senior Chinese banking official signaling a delay in capital-raising - a key plank in Beijing’s policy to recapitalise banks after a lending spree last year. Guo also flagged that CCB’s loan growth target could fall to 15 percent from a previously announced 17 percent. The Reuters scoop won wide media play in both domestic and international media. Rival Dow Jones picked up the story, giving full credit to Reuters.