HONG KONG Credit Suisse has hired former RBS banker Rick Meng as head of China onshore private banking, according to an internal memo, as the Swiss private bank looks to tap the wealth management business…
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China's currency just hit lows not seen since the financial crisis
China’s currency keeps sinking against the dollar. Since Donald Trump won the U.S. presidential election last week, Beijing has allowed the yuan to tumble. The fall continued Tuesday, with one dollar buying around 6.86 yuan,…
China October central bank FX sales at $39.2 billion, easing from September
BEIJING China’s central bank sold a net $39.2 billion worth of foreign exchange in October, data showed on Monday, easing from an eight-month high hit in September but still indicating continued official interventions to support…
Will China’s Financial Bust Ever Come?
China’s reading is the nation’s highest on record in the gauge released by the Bank for International Settlements. It’s the single most reliable indicator of looming financial crises, according to the BIS, which found in…
Investors dodge China's whack-a-mole outflow curbs
TRADE CHANNELS Jolyon Ellwood Russell, partner at lawyers Simmons & Simmons, said international anti-money-laundering monitor Financial Action Task Force (FATF) had identified four main channels to bring money out of China: cash smuggling in vans…
German Displeasure Rises Over China FDI Policy
Germany’s bellyache about China’s foreign direct investment policy is a sign of Europe’s growing displeasure with what is perceived as an imbalance in the economic ties between the Old Continent and the Asian giant. Sectors…
China’s Debt Addiction Could Lead to a Financial Crisis
The China state-capitalism model was the talk of the annual Davos Economic Conference in 2011. Not only had the Middle Kingdom managed to deftly sidestep the 2008-09 global credit crisis, but its gross domestic product…
What I read this week: A digital payment infra for India and if China is nearing a debt crisis
The debt treadmill In June, Torsten Slok, chief international economist at Deutsche Bank Securities, published a chart showing that China’s credit bubble exceeded even that of the US in 2007, on the cusp of the…
Deutsche Bank stake in China's Harvest offers some comfort in troubled times
HONG KONG In the checkered history of foreign-sino joint ventures, Deutsche Bank’s (DBKGn.DE) 30 percent stake in Beijing-based Harvest Fund Management has proven a savvy investment – and may provide the German bank with a…
China's money rates drop on liquidity support and mild yuan recovery
SHANGHAI, Nov 4 China’s primary money rates fell sharply for the week on liquidity support through a central bank-led medium term lending facility (MLF), and mild yuan strengthening against the dollar also eased demand for…
Investment banking activity in Singapore in downward spiral
Most of the bank’s employees in the region are located in Hong Kong, Singapore, and China and it is in these countries that the cuts will take place. Goldman is not the only investment bank…
All eyes on central banker Zhou after finance minister Lou steps down
China’s longest-serving central bank governor, steps down and who can replace him? The answer matters for the Chinese economy and the world because Zhou and Lou are regarded as the cream of the pro-market Chinese…
China has limited room for further monetary easing: CICC
Investment bank CICC believes there is limited room for China’s central bank to use further monetary easing, saying focus would shift to curbing asset bubbles and guarding against financial risks. Room for further monetary easing…
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