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The de facto central bank’s new platform is designed to help small and medium-sized enterprises get cheaper loans by sharing their operational data with banks. Source link
Read More »China property woes, US rate rises sink Asian foreign-currency bond supply
An absence of offerings from Chinese developers and rising US interest rates sank bond issuances in the first half of the year to the lowest level since 2018, with little to no recovery in sight. Source link
Read More »Cost of 11 billion Covid tests in three months gives China’s economy a jolt
China’s mass coronavirus-testing campaign looks to rack up a US$26 billion bill during the year’s second quarter, according to researchers with Soochow Securities. Source link
Read More »Standard Chartered’s profit rises as it bucks weak Hong Kong performance
The bank’s pre-tax profit of US$1.49 billion in the first quarter beat a consensus estimate of US$1.04 billion even as its business in Hong Kong took a battering from Covid-19 restrictions. Source link
Read More »Hong Kong lenders intensify rivalry in electronic lai see market
Hong Kong lenders are escalating efforts to expand the local market for electronic lai see amid increasing demand from tech-savvy consumers, while current social-distancing measures have made this digital red packet service more essential than ever, according to bankers.Various e-lai see services from the apps of virtual banks such as …
Read More »Hong Kong’s banks reinstate distancing rules to contain Covid-19
Several banks in Hong Kong have temporarily split their staff into A-B teams to let employees work from home as the Omicron variant of the coronavirus tears through some of the world’s tightest control measures, threatening a fifth wave of infections in the city. HSBC, Standard Chartered Bank, Bank of …
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