China bars banks from funding coal, steel 'zombie firms'

BEIJING China's banking regulator said on Friday that banks must strictly control credit to coal and steel firms that are violating capacity cuts, the latest in a series of regulations aimed at reducing loans to industries struggling with over-capacity. ( read original story ...)

Liechtenstein private bank LGT mulls further Asian acquisitions

The private banking industry globally is struggling in the face of tougher ... LGT A further problem for private banks in China is that there are insufficient assets in Hong Kong and Singapore, where the overseas private banks primarily operate, to allow ... ( read original story ...)

China’s central bank extends massive loans to financial firms

China’s central bank extended hundreds of billions of yuan in emergency loans to financial firms on Friday and ordered some of the country’s biggest lenders to extend credit as well, as it moved to ease a liquidity crunch and continuing debt sell-off. ( read original story ...)

As yuan weakens, Chinese rush to open foreign currency accounts

Industrial and Commercial Bank of China (ICBC) on its website offers preferential exchange rates for dollar-to-yuan transactions. "We're not seeing capital flight or lack of confidence in the local currency," said Raymond Yeung, chief economist for ... ( read original story ...)