HKMA warns on US dollar funding risk from China corporate lending
The Hong Kong Monetary Authority (HKMA) has issued a warning about increasing funding and liquidity risks linked with the upsurge in US dollar lending being made by Hong Kong branches of leading Chinese commercial banks to state-backed enterprises with offshore operations. This lending rose by 47% last year, or HK$440 billion ($56.6 billion), according to the Hong Kong central bank.
The rapid increase in credit growth, which the HKMA highlighted in a circular sent to the city's banks this week
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