HONG KONG (Reuters) — Hong Kong’s de-facto central bank said it sold 46.54 billion Hong Kong dollars ($6 billion) on Saturday to prevent the currency from strengthening beyond its official peg to the U.S. dollar, the first such intervention in more than four years. The Hong Kong dollar is pegged to a tight band between…
Patients at Hong Kong’s public hospitals and clinics may need to pay more for their prescriptions, with authorities reviewing the current heavily subsidised HK$15 (US$1.92) fee for a 16-week supply of medicine. Without disclosing details of the fee adjustment review, Dr Simon Tang Yiu-hang, director of cluster services at the Hospital Authority, said the aim…
It was no secret that authorities believed the Chinese government intended to infiltrate state and local governments across America. For years, the FBI has warned cities and police agencies about foreign actors potentially trying to influence politics. Two years ago, U.S. intelligence officials issued a bulletin stating that the Chinese were collecting information about local…
China’s aggressive stimulus measures have sparked a significant stock market rally. Many analysts say the measure is not enough to fix the challenges in China’s economy. However, the measures aim to boost sentiment and stem the negative feedback loop between markets and the economy. Thanks for signing up! Access your favorite topics in a personalized…