China’s state-owned banks, which could be the first group of institutions to feel the heat of US hostility in the financial realm, have been intensifying their discussions on how to cope with the risk of sanctions. Photo: Reuters China’s state-owned banks, which could be the first group of institutions to feel the heat of US hostility in the financial realm, have been intensifying their discussions on how to cope with the risk of sanctions. Photo: Reuters
China’s state-owned banks, which could be the first group of institutions to feel the heat of US hostility in the financial realm, have been intensifying their discussions on how to cope with the risk of sanctions. Photo: Reuters
China economy

Chinese banks warned to ‘stay on high alert’ for possible pain of US financial sanctions

  • Central bank authorities have been largely silent on the threat of a financial war with the United States, while state-owned banks are openly discussing how they would cope
  • Boosting the yuan’s international use and developing its own payment systems are options for China, but those are long-term projects

Topic |   China economy
China’s state-owned banks, which could be the first group of institutions to feel the heat of US hostility in the financial realm, have been intensifying their discussions on how to cope with the risk of sanctions. Photo: Reuters China’s state-owned banks, which could be the first group of institutions to feel the heat of US hostility in the financial realm, have been intensifying their discussions on how to cope with the risk of sanctions. Photo: Reuters
China’s state-owned banks, which could be the first group of institutions to feel the heat of US hostility in the financial realm, have been intensifying their discussions on how to cope with the risk of sanctions. Photo: Reuters
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