HONG KONG/SHANGHAI/BEIJING (Reuters) -Chinese regulators recently met financial institutions to discuss state-backed property developer China Vanke where they asked large banks to enhance financing support and asked private debt holders to discuss maturity extension, two sources said. The sources with direct knowledge of the matter said the financial institutions were asked to make progress quickly, and that the State Council - China's cabinet - is coordinating effort related to supporting China Vanke.
Chinese
regulators recently met financial institutions to discuss
state-backed property developer China Vanke where they asked
large banks to enhance financing support and asked private debt
holders.
Exclusive-Chinese Regulators Ask Large Banks to Step up Support for Vanke, Sources Say usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
China
has asked banks to enhance financing support for state-backed
China Vanke and called on creditors to consider private debt
maturity extension, in a rare intervention from central
government to.
JPMorgan Chase has selected HSBC and Standard Chartered to operate its custody businesses in Hong Kong and Taiwan, with assets worth more than $500 billion, a spokesperson for the U.S. bank said. Reuters reported in December JPMorgan, the world's third-largest global custodian, was set to outsource the operations of its local custody business in Hong Kong and Taiwan with Citigroup, HSBC and StanChart in the race for the mandate.