China has relaxed lending rules in its struggling property market as part of a broader coordinated policy stimulus to boost the country’s faltering economy, but analysts have cast doubt on its efficacy and called on Beijing to reach into its own pocket. On Wednesday, the People’s Bank of China and the National Administration of Financial Regulation relaxed existing rules to […]

The post China relaxes lending rules to stimulate struggling property market appeared first on Asian Private Banker.

An enhanced Wealth Management Connect (WMC) scheme between Hong Kong and the rest of the Greater Bay Area (GBA) will boast bigger personal investment quotas, more products, and new participants when it is rolled out in late February. However, much of the hyped scheme’s aggregate quota remains unused. Hong Kong’s Securities and Futures Commission (SFC) issued new guidance on Wednesday […]

The post Wealth Management Connect 2.0: Bigger quotas, more products appeared first on Asian Private Banker.

When a central bank unexpectedly unveils easing measures, markets often jump to one of two conclusions. One is relief that policymakers are staying on top of risks. The other is: “What do they know that we don’t?” The 6 December move by the People’s Bank of China (PBoC) — cutting the reserve requirement ratio (RRR) by 50 bps to ease […]

The post China Evergrande a reminder to private banks of danger ahead appeared first on Asian Private Banker.

The Cross-boundary Wealth Management Connect Pilot Scheme (WMC) in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) has raised questions over how banks can remain compliant when conducting marketing in other jurisdictions and which products are eligible. The People’s Bank of China (PBoC) and Hong Kong Monetary Authority (HKMA) promulgated WMC in September after a public consultation by the Guangdong branch of […]

The post GBA Wealth Management Connect raises questions over cross-border marketing appeared first on Asian Private Banker.

In this round-up: Hong Kong launches WM Connect and Southbound Bond Connect; International FIs expand in mainland China; Hong Kong and Singapore regulators issue SPAC listing rules Hong Kong launches WM Connect and Southbound Bond Connect September marked the official launch of the much anticipated Cross-boundary Wealth Management Connect Pilot Scheme in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) (WMC […]

The post September regulatory round-up: WM Connect and Southbound Bond Connect launched; International FIs expand in China; HK and S’pore regulators issue SPAC listing rules appeared first on Asian Private Banker.

Recent research published by several central banks in Asia has revealed the potential for smoother cross-border transfers and lower costs on a multiple Central Bank Digital Currency (CBDC) platform. The research findings were jointly published by the Hong Kong Monetary Authority (HKMA), the Hong Kong Centre of the Bank for International Settlements Innovation Hub (BISIH), the Bank of Thailand, the […]

The post Research on central bank digital currency lends hope to smoother cross border transactions appeared first on Asian Private Banker.

Regulators in Hong Kong and mainland China have announced that Southbound trading under the Bond Connect scheme will be rolled out on 24 September, marking the latest milestone in cross-boundary trading between the two markets. The scheme aims to provide mainland Chinese institutional investors with a convenient, efficient and secure channel to make allocations to offshore bonds via Hong Kong. […]

The post Southbound Bond Connect marks new milestone for cross-boundary trading appeared first on Asian Private Banker.

Banks in Hong Kong have welcomed the announcement of details for the Wealth Management Connect (WMC) scheme in the Greater Bay Area (GBA). Such details will facilitate their preparation for the latest addition to the cross-border investment connect scheme, after years of anticipation. The Guangzhou branch of the People’s Bank of China (PBoC) has published the public consultation draft on […]

The post Banks in Hong Kong welcome Wealth Connect clarity in details by PBoC appeared first on Asian Private Banker.

The takeaway from China’s annual political convention last week is that achieving quality, sustainable economic growth — with a clear emphasis on tackling financial risks— is the top of the agenda for the People’s Bank of China, economists contend. The week-long gathering of Chinese policymakers signalled a slow pull back fiscal and monetary stimulus throughout the year while maintaining positive […]

The post Banks weigh in on China’s “two sessions” as authorities set moderate growth targets appeared first on Asian Private Banker.

2021 started off with private banks anticipating the launch of the Wealth Management Connect scheme in the Greater Bay Area. Private banks are eager to expand their business operations as China opens up its financial markets. In early February, financial regulators from mainland China, Hong Kong and Macau inked a memorandum of understanding (MoU) establishing the cooperation framework and liaison […]

The post Jan/Feb Regulatory Round-up: GBA Wealth Management Connect; warning against ramp-and-dump scams; 2021 priorities appeared first on Asian Private Banker.

The Wealth Management Connect (WMC) scheme will be launched once COVID-19 related bans on travel between mainland China, Hong Kong and Macau are lifted, according to Bai Hexiang, the head of the PBoC’s Guangzhou branch. In a recent interview with Commercial Radio Hong Kong, Bai said the preparations for implementing the WMC scheme are basically completed and both North-bound and […]

The post Wealth Management Connect ready to launch once travel bans lifted appeared first on Asian Private Banker.

The Chinese regulator is studying the feasibility of relaxing restrictions on individuals participating in investments offshore. Taking the liberalisation of China’s two-way capital account flow a step further, Ye Haisheng, director-general at the capital account management department of the State Administration of Foreign Exchange (SAFE) has said in an interview with China Forex, a magazine under SAFE, that the regulator […]

The post China mulls relaxing offshore investment restrictions on individual capital accounts appeared first on Asian Private Banker.

Authorities in the Greater Bay Area (GBA) have inked a memorandum of understanding (MoU), establishing the cooperation framework and liaison mechanism for the Wealth Management Connect scheme. Four mainland Chinese regulators — the People’s Bank of China (PBoC), the China Banking and Insurance Regulatory Commission (CBIRC), the China Securities Regulatory Commission (CSRC), and the State Administration of Foreign Exchange (SAFE) […]

The post Regulators sign MoU for Greater Bay Area Wealth Connect appeared first on Asian Private Banker.

China is moving ahead with the possible internationalisation of the digital RMB in a move that private bank observers opine will drive the adoption of infrastructure and custodian services for digital assets — a key bottleneck for financial institutions in offering execution and trading services in such assets. China’s unprecedented assertiveness comes as other central banks ruminate over the contours […]

The post As others ruminate over digital currencies, China pulls out all stops appeared first on Asian Private Banker.

The People’s Bank of China (PBoC) is committed to opening up the country’s financial market, addressing systemic risks, and promoting green finance, according to notes from a virtual work conference held last week. Stability has been stressed as a top priority by the central bank. More structural reforms on the supply side will be expected. Under a “macroprudential” policy framework, […]

The post PBoC pledges further opening-up, de-risking, and green finance for 2021 appeared first on Asian Private Banker.

While being first to be hit with COVID-19, China’s economy has turned out to be an outlier amid the pandemic-induced global recession: it experienced a strong rebound after a rather gloomy 1Q20, took a more restrained and orthodox approach to monetary and fiscal policies, and called for a “dual-circulation” strategy to compensate lagging overseas markets with domestic demand. In the […]

The post Emerging from COVID-19 in flying colours? – A recap of China themes in 2020 appeared first on Asian Private Banker.

Credit Suisse has named a new chief operating officer for its onshore China business, the Swiss bank announced today. Alan Wang has joined as chief operating officer, China. In the newly created role, he will work closely with the bank’s businesses and corporate functions to deliver the bank’s onshore strategies. Wang moved to Credit Suisse after a short stint at […]

The post Credit Suisse adds COO to China franchise appeared first on Asian Private Banker.

China could bounce back stronger than ever, helping the global economic recovery find its legs in a post COVID-19 world, according to estimates by Morgan Stanley. The US investment bank sees China’s economic growth expand 9% YoY in 2021, led by a strong recovery in private consumption and global demand, before moderating towards a 5.4% YoY expansion in 2022. “Policy […]

The post Chinese economy to bounce back stronger than ever: Morgan Stanley appeared first on Asian Private Banker.

China’s success in dealing with the COVID-19 pandemic is allowing it to undertake a reform that was unthinkable in recent memory — giving up some control of the renminbi, and allowing its fate to be decided by market forces. The move towards allowing its currency to trade more flexibly against foreign currencies, mostly the US dollar, would lead to substantial […]

The post China’s RMB reform signals Beijing’s confidence in economy appeared first on Asian Private Banker.

In September, Asian Private Banker interviewed a financial crime specialist on how the FinCEN leak showed us that the US financial intelligence unit is swamped by an ever-growing pile of transaction reports; a Singapore regulatory lawyer discussed the possible impact of the new individual accountability guidelines on the private banking industry; and, we reported on the Securities and Futures Commission’s […]

The post September Regulatory Round-up: FinCEN leak; MAS’s individual accountability regime; removal of private OFC fund restrictions appeared first on Asian Private Banker.

The Chinese regulators have effectively combined the Qualified Foreign Institutional Investor (QFII) and RMB Qualified Foreign Institutional Investors (RQFII) regimes, in a bid to create easier market access for foreign capital. According to a joint statement from the China Securities Regulatory Commission (CSRC), the People’s Bank of China (PBoC), and State Administration of Foreign Exchange (SAFE), qualification requirements and rules […]

The post China’s integration of QFII and RQFII “another milestone”: UBS’s Fang appeared first on Asian Private Banker.

Index compiler FTSE Russell Thursday said it will start including Chinese government bonds in its closely-watched global government bond index, adding another endorsement for Beijing’s efforts to attract foreign capital into the world’s second-largest bond market. Chinese government bonds will be included in the FTSE World Government Bond Index (WGBI) starting October 2021, FTSE Russell said. The commencement date will […]

The post FTSE Russell warms to Chinese government bonds appeared first on Asian Private Banker.

The People’s Bank of China (PBoC) and the State Council have together issued a set of new regulations on financial holding companies, requiring any non-financial company that owns two or more financial companies to register as a financial holding company. According to a press briefing on Monday, the Measures for the Supervision and Administration of Financial Holding Companies for Trial Implementation […]

The post PBoC’s new rules on financial holding companies aim to mitigate systemic risks appeared first on Asian Private Banker.

Mainland China has made it easier for foreign institutions to invest in the domestic bond market and has reached an agreement with Hong Kong for the cross-listing of ETFs. Hong Kong has finally enacted its Limited Partnership Fund regime. China eases access by foreign investors to bond markets The National Interbank Funding Center (NIFC), a sub-institution affiliated to the People’s Bank of […]

The post August Regulatory Round-up: China opens bond market to foreigners; HK launches Limited Partnership Fund regime; HK security law may clash with US sanctions appeared first on Asian Private Banker.

With the implementation of new asset management regulations delayed for another year, shadow credit in Chinese banks is making a comeback, according to Moody’s. Based on statistics from the People’s Bank of China (PBoC) and the China Banking and Insurance Regulatory Commission (CBIRC), the US rating agency’s quarterly report reveals a growth in non-loan assets — or non-loan shadow credit […]

The post Chinese banks’ shadow credit grows in 1H20, as AM regulations are shelved until 2021 appeared first on Asian Private Banker.

Hong Kong fund flow news refuted The introduction of the National Security Law (NSL) roused speculation and anxiety in Hong Kong, with the impact on the city’s economic freedoms still uncertain. Earlier in June, some media outlets reported a significant outflow of assets from Hong Kong to Singapore due to the worry of NSL restricting the freedom of investments. The […]

The post June Regulatory Round-up: MAS quashes fund flow rumours; WM Connect launches; PBs in HK ramp up bespoke deal record-keeping appeared first on Asian Private Banker.

Yi Gang, Governor of the People’s Bank of China (PBoC), provided a framework last Thursday at the Lujiazui Forum on how financial institutions could achieve the letting go of RMB 1.5 trillion of profits in order to support the country’s COVID-19 disrupted economy. Yi’s speech follows Premier Li Keqiang’s suggestion in May, in his annual work report for the National […]

The post PBoC outlines plan on how FIs can sacrifice RMB 1.5 trillion of profits to bolster real economy appeared first on Asian Private Banker.

UBS has hired a senior official of the China Banking and Insurance Regulatory Commission (CBIRC) and the People’s Bank of China (PBoC), according to an internal memo of the bank. Alan Wang (Wang Wei) joined UBS’s Hong Kong office last week, in the role of China integration lead. In this role, Wang will help the Swiss bank to grow its […]

The post UBS hires senior CBIRC, PBoC official to head China onshore business appeared first on Asian Private Banker.

Although China seem to have turned a corner in its battle against COVID-19, economic risks are still looming – not so much from a potential second wave of infections, but from global disruptions to the supply chains. China’s economic activities and production are normalising. “Taking all the compiled data together, China’s economy is now operating at about 65% to 70% […]

The post Counteracting trends at play as China slowly recovers from COVID-19: UBP appeared first on Asian Private Banker.

February 2020 was overshadowed by the spread of COVID-19. In the region, regulators tried their best to help shore up the economy, by announcing monetary measures and by giving banks advice on supporting local SMEs and on providing a safe working environment for staff. Regulators seek to mitigate COVID-19 impact Since the Lunar New Year, mainland Chinese businesses have been […]

The post February Regulatory Round-up: Regulators aim to soften COVID-19 impact; MAS faults PBs for overcharging clients; China’s largest AML fine; Hong Kong beefs up privacy protection appeared first on Asian Private Banker.

The People’s Bank of China has fined three financial institutions a total of over RMB 10 million (US$1.4 million), citing their failures to comply with anti-money laundering regulations. The news was originally reported by Caixin Global on Monday. A statement published on PBoC’s website last Friday showed that China Minsheng Banking Corp. and China Everbright Bank Co. Ltd. had been […]

The post Three FIs receive record fines from PBoC for AML violations appeared first on Asian Private Banker.

The Monetary Authority of Singapore (MAS) has asked FIs to have effective internal controls in place across operations when implementing business continuity plans. It also urged vigilance against cyber scammers impersonating the health ministry to obtain financial information from individuals. Last Friday, Singapore’s Ministry of Health (MOH) raised the Disease Outbreak Response System Condition (DORSCON) Alert Level from yellow to orange after four […]

The post MAS asks FIs to step up business continuity plans in corona crisis appeared first on Asian Private Banker.

In view of the coronavirus outbreak, the People’s Bank of China (PBoC) and other Chinese financial regulators have announced measures to ensure the resilience of the banking system. Banks have been urged to meet the liquidity needs of the healthcare sector in its fight against the spread of the disease. The PBoC published a notice earlier this week to extend […]

The post PBoC pledges sufficient liquidity to maintain the smooth operation of China’s banking system appeared first on Asian Private Banker.

2019 was a long year for many in the region. The implementation of complex product suitability checks in Hong Kong occupied the first seven months of most private banking compliance staff, while the latter part of the year saw preparations for the anticipated economic downturn, not to mention the persistent US-China trade war and Hong Kong protests. Regulators in the […]

The post Regulatory trends in 2019 appeared first on Asian Private Banker.

Credit Suisse has made two appointments to its prime services team to better seize opportunities coming out of China, the firm announced today. Michelle Lim has been hired as managing director and head of China prime sales and business development for Credit Suisse and is responsible for prime sales, capital introduction, and consulting activities for the bank’s China prime clients. […]

The post CS adds two to prime services bench appeared first on Asian Private Banker.

July was a significant and eventful month for Hong Kong citizens in the wake of the ongoing anti-extradition protests, but related private wealth asset outflows have proved “marginal” while industry insiders are still divided on the implications of China’s response. Although the current cycle of protests began recently in June, market outlook and performance were not affected overnight. According to the Asset and […]

The post July Regulatory Round-up: SFC notes 2% drop in 2018 PWM AUM; HKMA guidance on loss-absorption products stirs uncertainty; China encourages foreign participation in onshore financial industry appeared first on Asian Private Banker.

Shortly after Premier Li Keqiang’s speech at the World Economic Forum, during which he said China will expedite Foreign Investment Law-related regulations, the People’s Bank of China (PBoC) announced 11 new measures with an accompanying timeline to promote and facilitate foreign access to China’s finance industry. On the wealth management front, the central bank “encourages” foreign financial institutions to participate […]

The post PBoC encourages foreign FIs to participate in setting up WM subsidiaries appeared first on Asian Private Banker.

Former Fed Chair Janet Yellen called for a revaluation of US monetary policy, suggesting that just one or two more rate hikes could prevent economic overheating in the US. “It makes sense to call a timeout to evaluate policy,” Yellen said, highlighting that labour markets are growing increasingly tighter. “I would anticipate that one or two rate hikes could be needed to […]

The post Fed to pause rate hikes, says Yellen at UBS conference appeared first on Asian Private Banker.

As 2018 draws to a close, Asian Private Banker reviews some of the most significant moments in the world of Asian private banking. February Top Tweets: BoS hits $100B two years ahead of target, clinches Obama Bank of Singapore started the year off with two headline-making tweets — in February, CEO Bahren Shaari announced on Twitter that the bank’s AUM […]

The post Key moments in 2018 appeared first on Asian Private Banker.

This week: Pictet WM’s Chen Dong comments on China’s financial markets; Deutsche Bank WM shares its views on the Brazilian market; Bank of Singapore says additional stimulus is likely to diminish after the US mid-terms; and Standard Chartered PB sees further gains in gold prices. Pictet WM: “Limited room” for PBoC to ease policy further Although China’s central bank has been […]

The post CIO Weekly – October 2018 Week 5 appeared first on Asian Private Banker.

Hong Kong and Singapore regulators have committed to enhancing their financial ties with the Mainland’s central bank. Today, the HKMA announced plans to improve ties by issuing central bank bills while MAS discussed ways to increase supervisory cooperation with China. PBoC bill issuance on HKMA’s bond platform Norman Chan, chief executive of the HKMA, inked a memorandum with Yi Gang, governor […]

The post HKMA and MAS strengthen ties with China appeared first on Asian Private Banker.

China’s 100 trillion yuan asset and wealth management market is under complete reset, as financial regulators significantly stepped up regulations across the board to remove opportunities for regulatory arbitrage in 2017. The new rules were formally codified in a set of asset management regulations this year for full compliance by end-2020. The repercussions are set to implicate all kinds of […]

The post Chinese wealth and asset management retrospective: A new era appeared first on Asian Private Banker.

China’s banking regulator published follow-up guidelines on banks’ wealth management activities after market close on Friday, in a move it said is aimed at removing uncertainty and providing stability to the market while spurring banks’ transitions, to mixed market reception on Monday. As previously reported by Asian Private Banker, the new release by the China Banking and Insurance Regulatory Commission […]

The post China banking regulator seeks to remove uncertainty with follow-up WMP rules appeared first on Asian Private Banker.

The latest rate hike from the People’s Bank of China (PBoC), in response to the Fed’s 25 bps rate increase, shows China’s determination to continue with monetary tightening going forward, says DBS. Hours after the Fed’s quarter percentage-point move, the PBoC edged borrowing costs higher, with the 7-day reverse repo rate, 28-day reverse repo rate, and 1-year rate of medium-term […]

The post DBS: Latest PBoC rate hike portents continued tightening in China appeared first on Asian Private Banker.

China Banking Regulatory Commission (CBRC) chairman Guo Shuqing says “more room” will be given to overseas banks in the country, according to media reports. Guo said at the Communist Party’s twice-a-decade congress that while foreign banks have been growing their presence in the country, their market shares have been trending downwards, which is detrimental to competition and the structure of […]

The post Foreign banks to be given “more room” in China: CBRC chairman appeared first on Asian Private Banker.

With cryptocurrencies garnering the attention of wealthy investors, regulators in Hong Kong and Singapore appear to be taking a more permissive approach to the emerging asset class compared with China – which has clamped down on so-called initial coin offerings (ICOs). “There is a lot of enthusiasm on digital currencies, including from HNWIs, as many believe that digital currencies are […]

The post Hong Kong and Singapore to benefit from China’s tough stance on cryptocurrencies? appeared first on Asian Private Banker.

The Hong Kong Monetary Authority (HKMA) has teamed up with the local police force and banks to launch a 12-month pilot project aimed at tackling money laundering – a month after a similar initiative was rolled out in Singapore. The Fraud and Money Laundering Intelligence Taskforce (FMLIT), which launched last Friday, intends to promote compliance through the “detection, prevention and […]

The post Police, regulators and banks launch AML task force in HK appeared first on Asian Private Banker.

The People’s Bank of China (PBOC) and the China Anti Money Laundering Monitoring Analysis Center are likely to extend anti-money laundering (AML) regulation to other parts of the finance sector in 2016, as well as continue with on-site inspections on banks, notes global financial services firm Wolters Kluwer. With China due to be inspected by the Financial Action Task Force in mid-2017, […]

The post Chinese authorities expected to extend AML ambit appeared first on Asian Private Banker.

Starting 4 January 2016, China’s central bank said the country will double the renminbi’s trading hours, as it prepares to join the International Monetary Fund’s (IMF) reserve currency basket in October. This, experts note, is the first step toward making yuan trading hours in line with currencies like the greenback, euro and yen. The People’s Bank of China said yesterday that yuan […]

The post China extends yuan trading hours, may revoke fund management registrations for banks appeared first on Asian Private Banker.

China’s central People’s Bank of China (PBoC) last Friday reaffirmed Beijing’s intention to use the Shanghai free-trade zone (FTZ) as a vanguard for market liberalisation, and, experts note, a direct competition to offshore wealth hubs like Hong Kong and Singapore. The PBoC announced new reforms at the FTZ including permitting individuals to directly purchase of foreign assets including businesses, stocks […]

The post Shanghai FTZ reforms to challenge offshore hubs appeared first on Asian Private Banker.

These are issues that China needs to resolve before the economy can rebound, says the chief investment strategist for China at Goldman Sachs, whose division includes also the group’s asset and private wealth management arms. Ha Jiming was speaking at a conference in New York yesterday, where he reportedly noted that China’s fixed asset investment in 2014 was an unprecedented […]

The post China needs to tackle excessive lending, deflation and overproduction, says GS chief strategist appeared first on Asian Private Banker.

A heavy devaluation of Asian currencies – in the wake of Beijing’s surprise devaluing of the yuan – has little effect on asset prices, says the bank’s APAC managing director and investment strategist. “If you believe that China’s economy will bounce back due to better management and the (US Federal Reserve) would introduce a gradual rate hike, emerging markets as […]

The post Chinese economy could do with fiscal stimulus, says BNY Mellon appeared first on Asian Private Banker.

The financial arena may have little to cheer about now when it comes to China, but on the bright side, 65% of private banking insiders expect a growth in offshore assets as a result of current stock market volatility, based on a poll by this publication. Asian Private Banker’s On-the-Spot, a weekly online poll, asked readers last week how they thought […]

The post On-the-Spot: 65% of APB readers see boost to offshore assets after China equities fall appeared first on Asian Private Banker.

Chinese HNWIs and their penchant for leverage – a key tool to obtaining and retaining relationships from Asia’s largest wealth market – may be receiving an onshore bump as credit analysts look to provide data to lenders to further liberalise the lending environment. “Banks are relying on the state’s credit bureau for now but ultimately, we expect them to depend […]

The post Onshore Chinese set to access even more credit, says global risk solutions firm appeared first on Asian Private Banker.

High yield bonds continue to be in demand, unaffected by the impending US Fed rate hike, particularly bank capital debt, says one head of fixed income based in Singapore. “Over the last week alone, we are seeing a lot of our private banking clients invest in high yield bonds,” he says. He adds that Asian investors are a fan of leverage […]

The post Interest in bank capital high yield bonds surge appeared first on Asian Private Banker.

Yield-hungry high net worth individuals (HNWIs) are regaining interest in China high yield bonds after the People’s Bank of China (PBOC) injected liquidity into the markets. “In the last six to nine months, the PBOC’s move to inject liquidity into the market has shown support for China’s growth,” says Owi Ruivivar, managing director and senior portfolio manager in emerging market […]

The post Liquidity injections spur demand for China high yield bonds appeared first on Asian Private Banker.

Shanghai-listed A-shares are trading at a more than 30% premium to their Hong Kong counterparts as the Shanghai Stock Exchange bull run continues. The Hang Seng China AH Premium Index reached 133.5 earlier this week – the highest since 2011, despite a 19.58% increase in the Hang Seng Index since the start of the year. The last time the Hang […]

The post A-share premium widens to 30% appeared first on Asian Private Banker.

The People’s Bank of China’s move to cut 100 basis points from banks’ reserve requirement ratio (RRR) is the largest since 2008, and reflects deep and growing concern from the Chinese central bank about structural problems in the economy, according to one private bank head of advisory. The PBOC announced yesterday (19 April) that banks’ RRR was being cut, following […]

The post Rate cut signals economic concerns appeared first on Asian Private Banker.

The Hong Kong Monetary Authority (HKMA) has appointed Huo Yingli as a senior adviser. She is seconded from the People’s Bank of China (PBoC) to the HKMA and will take up the position previously occupied by Mu Huaipeng. Huo will offer advice and assistance in the areas of financial cooperation between Hong Kong and the Mainland, further expansion of the […]

The post HKMA appoints another PBoC banker as senior advisor appeared first on Asian Private Banker.