China 

Chinese banks rejected nearly US$144 billion in loans last year using credit scoring system, central bank says

Chinese banks used the government’s new centralised credit scoring system to reject loan applications worth nearly 1 trillion yuan (US$144 billion) last year, the People’s Bank of China reported Friday, showcasing that its deleveraging campaign to reduce high debt and risky lending is succeeding.In total, 21 banking institutions rejected loan applications worth 911.7 billion yuan (US$131.7 billion) from “high risk” customers, while also receiving alerts on outstanding “high risk” loans worth 1… Source link

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China 

Central banks set to flood market with cheap loans as trade war threatens to plunge global economy into recession

The era of cheap funding is set to return as central banks worldwide cut interest rates to stimulate slowing growth amid an escalating global trade war that could tip the world economy into recession, according to analysts.The chances of a global recession have risen after the US last month raised tariffs on US$200 billion worth of Chinese goods to 25 per cent from 10 per cent while threatening to impose tariffs on another US$300 billion more of Chinese goods. China hit back by raising tariffs… Source link

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Vietnam 

Banks may assess pollution risks before granting loans – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Banks have implemented some credit programmes with priority given to solar energy projects. — Photo nangluongvietnam.vn HÀ NỘI — Banks will assess environmental pollution risks when granting loans to projects in some industries, according to a State Bank of Việt Nam (SBV) draft regulation. Under the regulation, which was drafted by the SBV and the International Finance Company (IFC), the industries include thermal power, paper and pulp, fabric dyeing, seafood processing and battery makers. These industries have high levels of pollution and can easily cause negative impacts on people and the surrounding…

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Home 

After state loans, China wants private investment to play a greater role in Africa’s next stage of growth

The past decade has seen the world’s leading economies race to increase their ties with Africa, a continent brimming with potential. And none more so than China. Its sustained courtship of the continent has seen their bilateral trade and investment reach astronomical levels. According to official Chinese figures, trade with Africa grew to just over US$204 billion in 2018. And a recent tweak to their approach promises to enshrine Africa as the continent of opportunity for Chinese companies.While… Source link

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Home 

Tightened mortgage lending has pushed Hongkongers into arms of cash-rich developers and their expensive property loans

Mortgage loans for new homes provided by banks inched up 1.5 per cent in 2018, but the proportion of loans offered by non-banking financial companies, mainly developers’ finance companies, jumped to 21.7 per cent of the total, up from 14.6 per cent in 2017. Photo: Felix Wong Source link

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Home 

China’s biggest banks well prepped on non-performing loans, ready for stricter reporting standard

The latest window guidance, which calls for recognising NPLs at more than 60 days overdue, has only been issued to China’s six biggest banks: Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Agricultural Bank of China, Postal Savings Bank of China and Bank of Communications. Photo: Reuters Source link

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Vietnam 

Bank loans not accessible for 20% of VN firms – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Workers sort ballpoint pens at a Thiên Long Production and Trading Co Ltd factory. — VNA/VNS Photo Danh Lam HÀ NỘI — A fifth of all Vietnamese enterprises do not have access to financial loans, according to the Việt Nam Chamber of Commerce and Industry (VCCI). Capital is a vital resource for a business to develop. Most local enterprises now have very high demand for capital funding in the short-, medium- and long-term, VCCI reported in a meeting on Friday. Credit lending granted by financial institutions is an important channel, VCCI said. To help local companies…

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Singapore 

Here’s what you need to know about the latest changes to CPF usage and HDB housing loans when buying residential properties, Singapore News

Starting from today (10 May 2019), new rules regarding the use of CPF for purchasing residential properties and HDB loan limits will take effect – for both HDB flats and private properties. DollarsAndSense explains what these new rules are – and how they might affect you. OLD RULES REGARDING CPF USAGE AND HDB LOANS In the past, how much CPF you can use to pay for your residential property and HDB loan amount depends on the length of lease remaining on your property. OLD SCENARIO 1: If your property has…

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China 

China frees up US$41.5 billion for loans to small firms as Donald Trump threatens tariff rise

China’s central bank on Monday announced new measures to free up 280 billion yuan (US$41.5 billion) for loans to small firms, just hours after US President Donald Trump threatened to raise the tariff rate on US$200 billion worth of Chinese imports because of what he called a lack of progress in the trade negotiations.According to the People’s Bank of China, from May 15 the required reserve ratio (RRR) for county level rural banks and higher level rural banks with county level branches but total… Source link

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Vietnam 

HoREA offers proposals to help real estate firms access long-term bank loans – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  An apartment building in the Nam Trung Yên Urban Area in Cầu Giấy District’s Trung Hòa Commune. — VNS Photo Đoàn Tùng HÀ NỘI — The HCM Real Estate Association (HoREA) has suggested the State Bank of Việt Nam (SBV) extend the application of regulations on banks’ maximum ratio of short-term funds used for medium- and long-term loans until the end of 2020. The HoREA also proposed the rate should be reduced to 37 per cent starting from January 1, 2021; 34 per cent from July 1, 2021; and 30 per…

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