For financial professionals around the globe this week, rising trade tensions and fears of a slowdown were no match for an unlikely drama suddenly unfolding in China: UBS Group AG’s struggle to quell … (…
FINANCE
China Bond Traders Reassess Counterparties After Bank Seizure
Bond traders in China are rethinking counterparty risks as shock waves from a government takeover of a bank ripple through the country’s financial markets. It’s now getting harder for corporate bonds … ( read original…
Beijing’s hand behind move to suspend Hong Kong bill
“It is out of Hong Kong’s control,” one senior government official told the Financial Times late last week as Beijing deliberated whether Mrs Lam should proceed or not. At a press conference called on ……
Chinese regulators will restructure Baoshang Bank as soon as possible
SHANGHAI (Reuters) – The Chinese government’s takeover of Baoshang Bank has caused some pain but prevented bigger financial and social instability, and regulators will restructure the lender as soon … ( read original story …)
Hong Kong cannot respect freedoms while serving Beijing
A career civil servant appointed by a select committee handpicked by Beijing, Ms Lam pledged to unite society … bill erupted into violence in scenes rarely seen in Asia’s premier financial centre … ( read…
Breakingviews – Beijing yields to Hong Kong’s financial clout
HONG KONG (Reuters Breakingviews) – Beijing has yielded to Hong Kong’s unique economic status. Carrie Lam, chief executive of the special administrative region, on Saturday indefinitely suspended a … ( read original story …)
China’s bad data can be a good thing
There’s a good reason why China’s banking regulator just issued a statement insisting its small and mid-size banks were stable: Investors don’t believe the numbers that are telling them the same thing … ( read…
China securities watchdog surveys brokerages, fund managers for signs of stress: sources
SHANGHAI (Reuters) – China’s securities watchdog has surveyed Chinese brokerages and fund managers for signs of financing stress, sources said on Friday, after a state takeover of a troubled bank in … ( read original…
Chinese banks rejected nearly US$144 billion in loans last year using credit scoring system, central bank says
Chinese banks used the government’s new centralised credit scoring system to reject loan applications worth nearly 1 trillion yuan (US$144 billion) last year, the People’s Bank of China reported … ( read original story …)
China Bank raising P5b from maiden bond issue
China Banking Corp., the seventh-largest lender in terms of assets, plans to raise at least P5 billion through its maiden issuance of peso-denominated fixed rate bonds to support expansion and … ( read original story…
Hong Kong gets angry as Beijing tightens its grip
The chaos forced Hong Kong’s defacto parliament, which is weighted in favour of pro-Beijing politicians … particularly in the financial services sector, attracted to the city’s rule of law, low tax … ( read original…
What Foreign Firms Really Want From China’s Financial Opening
Graham: Accepting foreign political dirt a ‘mistake’ (Bloomberg) — A day after China’s top regulators renewed pledges to allow more foreign competition into their financial sector, global bankers and … ( read original story …)
China’s banks remain reluctant to lend amid US trade war uncertainty, new data shows
The value of new yuan loans rose to 1.18 trillion yuan (US$170.54 billion), from April but below market expectations of 1.3 trillion yuan Impact of US-China trade war is spooking lenders, although … ( read…