China businessman jailed trying to bribe HSBC staff

In hope that the bank’s officer can facilitate his account opening application for his company Background: HSBC has recently tightened requirements for opening company accounts in Hong Kong to comply with anti-fraud regulations, and international anti-money laundering and counterterrorist financing… Continue Reading →

Hong Kong banks loan growth slowed down

Preparing for the rainy season. Credit quality could come under pressure this year as interest rates rise in the United States who launched massive financial stimulus over recent years and left Hong Kong banks awash with credit, but the rate… Continue Reading →

Hong Kong and Mainland China banks to chart future

After the release of shocking China’s data in early Aug, bank lending fell to the lowest level in nearly five years and the broader measure of credit, total social financing, fell to the lowest in nearly six years. Fixed asset… Continue Reading →

China thinks about cutting down banks’ reserve ratio

China’s enterprises, especially real estate developers, is suffering from soaring cost of borrowing, economist calls for cut in reserve requirement. Source: The Standard Finance Beijing (capital of People’s Republic of China) may consider cutting the reserve requirement ratio (a.k.a RRR)… Continue Reading →

Banks in Hong Kong boost Interest Rates in bid to attract Chinese yuan deposits

China introduced a floating exchange rate on July 21, 2005, the yuan has consistently risen in value against the United States dollar, from a low of 8.28 yuan to the dollar in July 2005 to a high of 6.06 in… Continue Reading →

Hong Kong yuan business lures non-local banks (Industrial Bank from Mainland China)

Instead of taking OCBC’s acquisition approach, Industrial Bank (mainland China) first sets up a branch in the city last month, becoming the fourth mainland lender to do so over the past three years, after applying for a Hong Kong banking… Continue Reading →

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