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  • September 21, 2014
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  1. HK, mainland seal 200b yuan currency swap

    Posted Jan 21st 2009, 12:00am by Cary Huang

    ... billion) currency swap, part of Beijing's efforts to support the city's depressed economy and bolster financial stability in the region. The HKMA said yesterday the move was intended ... have access to yuan from the mainland central bank for three years, whenever the city needed 'short-term liquidity support', the PBOC said yesterday. Currency swap lines allow ...

  2. 3b yuan injection too small to lift airlines

    Posted Nov 19th 2008, 12:00am by Charlotte So

    ... it cope with the financial crisis. The injection might be followed by the listed airlines selling shares to their parents, the reports said. Both airlines said on Monday they had not received ... The challenge for international and domestic air traffic on the mainland would be even more severe than that during the 1998 Asian financial crisis, the report said. China Southern's international ...

  3. Guarantee a precaution, says Yam

    Posted Oct 17th 2008, 12:00am by Staff Reporter

    ... commitment to use the Exchange Fund to guarantee deposits and provide capital for banks was aimed at minimising any adverse effects of the continuing financial crisis in the United States and Europe, ... to HK$7.7547 to the US dollar at one point yesterday, the highest in about a year. Under the linked exchange rate system, the HKMA is committed to keeping the local currency trading between HK$7.75 ...

  4. Exchange Fund reports HK$52.8b reduction in surplus for January

    Posted Feb 28th 2009, 12:00am by Staff Reporter

    ... the global financial crisis. Law Ka-chung, the chief economist and strategist at Bank of Communications, said investment markets would remain challenging. However, he expected the fund ... foreign-currency assets decreased HK$13 billion to HK$1.43 trillion. Separately, Hong Kong's deposits fell 1.2 per cent last month. Yuan deposits in Hong Kong declined 3 per cent to 54.4 billion yuan ...

  5. Banks' earnings are expected to rebound

    Posted Nov 14th 2009, 12:00am by Staff Reporter

    ... of last year. 'The earnings rebound will be more obvious next year when loan demand picks up,' Chan said. The HKMA said retail banks' total loans had almost returned to pre- crisis ...

  6. Exchange Fund expects second quarterly loss

    Posted Jun 27th 2008, 12:00am by Staff Reporter

    ... and bonds, recording a full-year loss if the subprime crisis continues to hit world markets. The fund made an investment loss of HK$16.5 billion in the first half of 2001, but still managed earnings ...

  7. Financial secretary sees no need to use reserves

    Posted Oct 14th 2008, 12:00am by Staff Reporter

    ... That triggered public panic. Foreign reserves are meant to support the local currency's peg to the US dollar. Hang Seng Bank vice-chairman and chief executive Raymond Or Ching-fai said the Hong Kong dollar was strong and he did not see the need to defend the currency peg. Hong Kong's foreign-currency reserves stood at US$160.6 billion at the end of last month, seven times the currency ...

  8. SME credit guarantor to debut in HK listing first

    Posted Jan 04th 2012, 12:00am

    ... procedures has seen problems,' Pang said. Chief executive Chang Hoi Nam said the Wenzhou credit crisis had had a 'positive effect on our company as more enterprises prefer borrowing from ...

  9. StanChart's HK chief rules out cuts

    Posted Sep 19th 2011, 12:00am

    ... a repeat of the 2008 financial crisis. 'I am not saying that the banking sector is very healthy now and nothing bad can happen,' Hung said. 'But it is far better than it was during ...

  10. HK roared back, but jury's still out on its audacious raid

    Posted Jul 07th 2011, 12:00am

    ... Stephen Vines As the financial crisis swept across East Asia in 1997, the Hong Kong government's first response was to arrogantly assert that it was much better positioned than others to weather the storm. Donald Tsang Yam-kuen, as financial secretary, claimed the crisis might well be over by the end of the year. However, as 1997 morphed into 1998, things got a lot worse in Hong ...




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