Beijing’s takeover of Baoshang Bank last month has unnerved investors who expect trouble ahead. Photo: Reuters

China’s need for opening up of financial market highlighted by demise of Baoshang Bank

  • The Chinese government was forced to step in and hand the control of the small Inner Mongolian bank to the China Construction Bank
  • Investors and analysts fear deteriorating health of small banks despite the central bank’s assurance that the failure is an isolated case
Topic |   China economy

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Beijing’s takeover of Baoshang Bank last month has unnerved investors who expect trouble ahead. Photo: Reuters
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Anbang Insurance Group bought the Waldorf Astoria hotel in New York for a record US$1.95 billion in 2014. Photo: Reuters

Is China’s concern over a possible US dollar shortage risk forcing companies to sell overseas assets?

  • China’s need for US dollars to repay debts, pay for imports and fund Belt and Road initiative projects may exceed its US$3.1 trillion in foreign exchange reserves
  • Anbang Insurance Group, Dalian Wanda Group and HNA Group have all been pressured to sell assets amid the trade war with the United States
Topic |   Yuan

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Anbang Insurance Group bought the Waldorf Astoria hotel in New York for a record US$1.95 billion in 2014. Photo: Reuters
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