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  • August 22, 2014
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  1. Business - Comment - MONITOR

    Illuminating confessions from a shadow banker

    Posted May 15th 2013, 12:00am by Tom Holland

    ... from a shadow banker Everyone knows China's shadow banking market is big. According to the ratings agency Moody's, the shadow market was worth 20.5 trillion yuan (HK$25.9 trillion) ... the rapid growth of shadow financing threatens the stability of China's formal banking system, nor whether a crisis in the shadow market could endanger the future development of the Chinese ...

  2. Business - Comment - MONITOR

    Nothing new in Beijing's latest 'clampdown' on shadow loans

    Posted Jan 08th 2014, 03:33am by Tom Holland

    ... in Beijing's latest 'clampdown' on shadow loans Another year, another clampdown on China's shadow banking system. Last month, the State Council issued a policy directive aimed ... lending via just three types of shadow loans- loans by trust companies, business to business loans brokered by banks, and loans made through the issuance of leveraged bank acceptance bills- ...

  3. Business - Comment - MONITOR

    Beijing can't afford to rein in the shadow financing system

    Posted Jan 24th 2013, 12:00am by Tom Holland

    ... in the shadow financing system According to mainland media reports, Beijing has set this year's quota for new bank loans at nine trillion yuan (HK$11.11 trillion). Now, nine trillion yuan sounds ... place away from the banking sector's balance sheet via a shadow financial system of wealth management products and company-to-company loans, while the corporate bond market has exploded. ...

  4. Business - Comment - MONITOR

    Capital base of Chinese banks not as strong as bosses claim

    Posted Aug 30th 2013, 12:00am by Tom Holland

    ... Tom Holland Lenders' capital-to-asset ratios do not adequately reflect exposure to off-balance sheet loans made through shadow banking channels Capital base of Chinese banks ... shadow financial market. Although the banks are not legally responsible for these loans, many of which have been repackaged and sold to savers as wealth management products, it is likely ...

  5. Business - Comment - MONITOR

    Mainland China squeeze is bad news for Hong Kong banking system

    Posted Jun 21st 2013, 12:00am by Tom Holland

    ... for Hong Kong banking system The Federal Reserve-induced rout in international financial markets yesterday largely obscured another indicator of mounting stress; one that could pose a major risk ... all, interbank rates have shot up because the central bank has refrained from injecting cash into the system to relieve the gathering squeeze. This lack of remedial action indicates ...

  6. Business - Comment - MONITOR

    By avoiding a small crisis now China risks a big one in future

    Posted Jan 29th 2014, 05:02am by Tom Holland

    ... Tom Holland With the trust product bailout, Beijing gives the green light to expansion of the shadow financial system instead of acting to let market price risk By avoiding a small crisis ... shadow market investment scheme got bailed out. The rest of us should be very nervous indeed. No one quite knows who has stumped up the three billion yuan (HK$3.8 billion) needed to repay ...

  7. Business - Banking & Finance - MONITOR

    The encouraging signs behind China's record funding figures

    Posted Feb 17th 2014, 04:47am by Tom Holland

    ... on Saturday. The bald numbers tell us that mainland banks last month made local and foreign-currency loans worth 1.48 trillion yuan (HK$1.9 trillion). That's the highest monthly lending figure ... the effects of slowing growth on the mainland, as many stock market investors are, then you might well conclude that January's pick-up in bank lending is welcome news because it will help support ...

  8. Business - Comment - MONITOR

    A nice idea Mr Yam, but it will be a long time before it can fly

    Posted Feb 19th 2014, 01:27am by Tom Holland

    ... currency to the US dollar, given that the world's financial flows are overwhelmingly US dollar-denominated. The central bank imposes a high reserve requirement for one overriding reason: it’s ... on the People's Bank of China to ditch its reliance on reserve requirements for managing monetary policy, and to adopt a Western-style policy interest rate instead. Constraining monetary growth by forcing ...

  9. Business - Economy - MONITOR

    The yuan is falling, but only because Beijing wants it to

    Posted Mar 03rd 2014, 02:59am by Tom Holland

    ... Tom Holland Despite talk of a greater role for market forces, the currency is still far from freely floating with constant interventions from the central bank The yuan is falling, but only ... and a greater role for market forces, the yuan remains neither fully convertible nor freely floating. The central bank continues to steer all the currency's movements. Each morning it dictates ...

  10. Business - China Business - MONITOR

    It's tough, but China must let trust company products fail

    Posted Jan 27th 2014, 04:23am by Tom Holland

    ... let trust company products fail The 700 investors in China's "Credit Equals Gold No1 Trust" are hoping that Industrial and Commercial Bank of China will bail them out. ... ceased production after its vice-chairman was arrested for taking deposits without a banking licence. Not surprisingly, the investors are angry. They say they were promised a 10 per cent annual ...




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