Do China’s banks have the requisite money to lend the economy out of trouble? Photo: Reuters

Chinese banks may not have enough capital to lend economy out of slowdown, says Fitch

  • ‘Banks’ earnings in the past few years have only been able to sustain their [required] capital adequacy levels,’ said Fitch executive Grace Wu
  • Beijing is leaning further on the private sector to buffer the slowdown and is requiring banks to lend more to these firms, without raising borrowing costs
Topic |   China economy

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Do China’s banks have the requisite money to lend the economy out of trouble? Photo: Reuters
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US President Donald Trump and China's President Xi Jinping at the G20 summit in Osaka. Photo: AFP

China premier promises ‘faster’ financial opening up to foreign investors days after agreeing to US trade war truce

  • Li Keqiang tells ‘Summer Davos’ forum in Dalian on Tuesday that Beijing will scrap foreign ownership caps in the domestic financial industry in 2020
  • He did not mention the US or the trade war in his speech, but the move comes days after President Xi Jinping’s meeting with Donald Trump at the G20 summit
Topic |   China economy

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US President Donald Trump and China's President Xi Jinping at the G20 summit in Osaka. Photo: AFP
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