China’s banks extended RMB11.1 trillion (US$169.8 billion) in new loans for the January-November period this year, already topping last year’s total lending, Caixin reported, citing calculations based on official data. Borrowing this year has been driven by bank loans to troubled firms that needed cash to pay off old debt, as well as mortgage and […]
Category: Banking & Finance
Hong Kong’s stock exchange has issued new rules that bar companies whose assets are mostly or entirely cash from listing, effectively banning a common method of backdoor listing in the territory, South China Morning Post reported, citing a statement from chief regulatory officer David Graham. The bourse’s chief regulatory officer and head of listing, David Graham, […]
Shan Jiuliang, founder of the troubled Fanya Metals Exchange has not been seen since October 15, South China Morning Post reported, citing a statement to the Hong Kong Stock Exchange by animation studio Imagi, which is controlled by Shan. Caixin reported on Thursday that authorities were considering filing a case against Shan and Fanya based […]
The Hong Kong Monetary Authority has raised the territory’s base interest rate for the first time in nearly a decade in response to the US Federal Reserve’s decision to raise rates, South China Morning Post reported. The authority increased the rate by 25 basis points to 0.75% Thursday morning to maintain a longstanding peg to […]
The United Arab Emirates and China have agreed to create a US$10 billion co-investment fund, Bloomberg reported, citing the UAE’s state-run WAM news agency. The new UAE-China Joint Investment Cooperation Fund will be managed by Mubadala Development Co., China Development Bank Capital and China’s State Administration of Foreign Exchange. The agreement, signed by Crown Prince […]