Amid an increasingly volatile and complex international environment as well as delisting risks in the US, Chinese listed companies have been turning to other markets such as Switzerland to raise funds while fending off the fallout caused by China-US geopolitical tensions.
The US Federal Reserve on Wednesday US time moved to raise interest rates by a larger-than-usual 75 basis points (bps), making clear its intention to rein in runaway inflation, while intensifying market fear of a looming US recession that could have serious global implications.
The Chinese central bank s new policy of expanding yuan settlements in cross-border e-commerce and other new trading scenarios took effect on Thursday.
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Chinese experts on Tuesday refuted recent Western media hype over problems with four rural banks in Central China’s Henan Province that have sparked widespread attention as well as swift regulatory actions, noting that the cases are “isolated” and do not represent any nationwide systemic risk and China has the capability to prevent major financial risks after years of efforts to set up a multiple-layered financial risk aversion mechanism.