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  1. Fitch downgrades outlook for local-currency default rating

    Posted Apr 14th 2011, 12:00am

    ... Jane Cai in Beijing Fitch Ratings has downgraded the mainland's local-currency issuer rating on concerns of elevated real-estate valuations and inflation. The outlook for China's long-term local-currency issuer default rating has been revised from 'stable' to 'negative', Fitch said yesterday. 'The negative outlook reflects concerns over the scale ...

  2. US should lead by example during crisis

    Posted Feb 04th 2009, 12:00am by Staff Reporter

    ... Central bankers are expected to try to calm markets and ease the anxiety of investors in times of crisis. So the warning by Hong Kong Monetary Authority chief Joseph Yam Chi-kwong ... their governments, most of these banks will find the pressure almost impossible to resist. Therefore, having caused the global credit crisis, these same western financial institutions are pulling foreign ...

  3. Banks see strong loan growth fuel asset boost

    Posted Jan 05th 2007, 12:00am by Staff Reporter

    ... of local-currency loans in the first 11 months, already 20 per cent more than the central bank's full-year target of 2.5 trillion yuan. In November, the economic and finance committee of the National ... in the first 11 months Three trillion yuan of local-currency loans were provided Big Four continue to dominate the financial sector ...

  4. Austerity policies push up NPLs at China Merchants

    Posted Apr 01st 2005, 12:00am by Staff Reporter

    ... Merchants Bank this year. The Shanghai-listed lender last year ranked No6 among mainland commercial banks by domestic currency deposits and loans, behind the Big Four state-owned commercial banks ... to help tide borrowers over through a cash-flow crunch.' China Merchants said yesterday widespread expectations of an imminent yuan appreciation last year put its foreign-currency business ...

  5. Chinese banks may not be as solid as they look

    Posted Jan 19th 2009, 12:00am by Tom Holland

    ... Beijing to support the economy. Last month, the banking system extended new domestic currency loans worth 772 billion yuan (HK$877 billion)- a 14-fold increase over December 2007- after granting ...

  6. Feast and famine in lending is hurting China's economy

    Posted Jul 04th 2011, 12:00am

    ... currency rating to 'negative' in April. Having created the crisis, Beijing has been trying desperately to rein in its profligate regional cousins. The reserve requirements for bank ... the mountain of bad loans, which has sprung up since Beijing encouraged local government spending to shore up the economy following the 2008 financial crisis. Now, it is estimated that up to 30 per ...

  7. Curb property loans, lenders told

    Posted Jul 22nd 2011, 12:00am

    ... with questionable repayment capacity over the medium term. However, Fitch's long-term foreign currency issuer default ratings for all 16 mainland banks are underpinned by expectations of state support ...

  8. Times are changing for fake ringgit coins

    Posted Sep 08th 2005, 12:00am by Staff Reporter

    ... currency in favour of notes. Small traders, businesses and even some banks not only refuse the coins but since last week have been unloading their ringgits on unsuspecting customers. But the public ... crisis. They were generally accepted, with people joking they were lighter and shinier and rejected by vending machines. But acceptance plunged last week after a Chinese daily reported ...

  9. PBOC calls for global financial co-operation

    Posted Mar 27th 2009, 12:00am by Martin Zhou

    ... in Washington, for causing the crisis, calling for better co-operation among financial supervising bodies around the world and tightening oversight on credit rating services. '[But] we should start ... at the Group of 20 summit next Thursday. Central bank governor Zhou Xiaochuan raised some eyebrows on Tuesday by proposing a single global reserve currency to displace the US dollar, followed ...

  10. Staff jailed for using bank's US$30m in currency scam

    Posted Nov 26th 2004, 12:00am by Staff Reporter

    ... were jailed for five years, while a sixth received a suspended sentence. It is not known how much money the bank lost as a result of the currency speculation. The Haidian District Procuratorate ... it to yuan. The group then used the yuan to buy dollars on the black market and deposited the American currency into Hu's bank account. Hu was a bank client, a close friend of bank staff and also ...




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