The Hong Kong Trade Development Council (HKTDC) will form a “strategic alliance” with the Bank of China (BOC) to get mainland Chinese companies to rely on the city as a “superconnector” as they venture overseas, its new chairman, Frederick Ma Si-hang, has said. The council’s new task would be part of an expansion of its…
China’s credit engine just kicked into high gearbut it’s not the full story. Total social financing hit 4.2 trillion yuan ($585.7 billion) in June, coming in well above economists’ expectations. Banks extended 2.2 trillion yuan in new loans, thanks to a seasonal lending push and a wave of government bond issuance. The People’s Bank of…
(Reuters) -China’s central bank has asked some financial institutions about their views on recent U.S. dollar weakness, people with knowledge of the matter said. In the survey conducted last week, the People’s Bank of China (3988.HK) asked questions related to the U.S. dollar’s movements and the causes of its recent weakness and outlook for the…