徽商银行

徽商银行收涨2%，香港大盘恒生指数（HangSengindex）则收跌0.7%。

Huishang rose 2 per cent , while the Hang Seng index closed down 0.7 per cent .

徽商银行融资额达到13亿美元，是自重庆农村商业银行（ChongqingRuralCommercialBank）2010年在香港上市以来中资银行最大的一宗IPO。

At $ 1.3bn , the Huishang deal is the largest by a Chinese lender since Chongqing Rural Commercial Bank listed in the city in 2010 .

昨日，徽商银行（HuishangBank）股价小幅上涨。三年来最大的中资银行首次公开发行（IPO）开始交易。

Shares in Huishang Bank recorded a modest rise yesterday , as trading began in the biggest Chinese banking initial public offering for three years .

据一位了解徽商银行IPO的人士表示，仅房地产开发商万科（ChinaVanke）就购入了徽商银行所发行股票的近40%。

Property developer China Vanke alone took up almost 40 per cent of the deal , according to a person familiar with the listing .

徽商银行在IPO中聘用了19家账簿管理人。在金融企业IPO销路不畅的香港市场，多聘账簿管理人的现象已变得越来越普遍。

Huishang also hired 19 bookrunners to help get its listing over the line , an increasingly common feature of Hong Kong 's fragile market for financial IPOs .

徽商银行IPO是过去一个月里第三宗中资银行IPO。此前，中国汇融金融控股有限公司（ChinaHuirongFinancial）和重庆银行（BankofChongqing）先后上市，融资额分别达2亿美元和6亿美元。

The Huishang debut is the third Chinese bank IPO in Hong Kong in the past month , following Huirong Financial 's $ 200m listing , and Bank of Chongqing , which raised $ 600m .

首日交易之前，徽商银行已获得了5家基石投资者的认购，这些投资者总共购入半数以上发行的股票，导致有些人将这次IPO称为一次“家人与朋友占主角的”交易。

Ahead of the trading debut , Huishang secured support from five such cornerstones , who together bought more than half the shares being sold , leading some to describe it as a " friends and family " deal .

徽商银行和其他金融上市企业的表现正受到市场的密切关注。不久之后，中国一家“坏银行”——中国信达资产管理公司（Cinda）将于11月22日发布招股说明书，计划通过IPO融资20亿美元。

The performances of Huishang and of the other financial listings are being closely watched ahead of the planned $ 2bn IPO of Chinese " bad bank " Cinda , which is due to file its prospectus on November 22 .

中国城市商业银行的资产重组模式选择&以徽商银行为例

On the Mode of the Assets Rearrangement in the Urban Commercial Bank of China

由于基石投资者的大举介入，徽商银行在首个交易日的表现本来就预计将波澜不兴。基石投资者需要经历一段锁定期，在此期间不能出售所持股票。

Huishang 's first trading session was expected to be muted because of the heavy involvement of cornerstone investors , who are subject to a lock-up period during which they cannot sell shares .

如何探寻适合自己发展的城市商业银行道路，在激烈的市场竞争中谋求发展，站稳脚跟，提升市场竞争力等成为徽商银行目前面临的关键问题。

How to explore the developing road suited to its own , seeking for the development in the fierce market competition , gaining a foothold and promoting the seek the development , promoting competitiveness in the market is the key problem for Anhui municipal commercial bank .

第四部分首先以徽商银行为例对我国商业银行利率风险管理现状进行实证分析，然后分析了我国商业银行利率风险管理存在的主要问题。

The fourth part firstly to Merchants Bank as an example of empirical analysis on the current situation of interest rate risk management of commercial banks in China , and analyzes the main problems existing in the management of interest rate risk of commercial banks in china .