Standard Chartered, one of Hong Kong's three currency-issuing banks, reported worse-than-expected earnings for the third quarter because of high impairment charges related to exposure to China's property sector. The emerging-markets focused lender made a net loss of US$35 million for the July to September period, against a profit of US$964 million a year earlier. The London-based bank, which generates much of its revenue in Asia, reported US$633 million in pre-tax profit, a decline of 54 per cen
China’s local governments are issuing refinancing bonds to service outstanding liabilities associated with US$9 trillion of ‘hidden’ debt amid efforts by Beijing to defuse risks in its slowing economy.
China's Anti-Corruption Purge Can't Handle the Top Echelon, Says the Expert theepochtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theepochtimes.com Daily Mail and Mail on Sunday newspapers.
China’s big banks are likely to face further pressure on their revenues and interest margins in the fourth quarter, as the world’s second-largest economy battles an ongoing property sector crisis and low consumer confidence, analysts said.
Former chairman of China Everbright Group expelled from Party globalsecurity.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globalsecurity.org Daily Mail and Mail on Sunday newspapers.