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Debt-to-equity swaps clean up China banks: But is all as it seems?

February 9, 2018

HONG KONG - Chinese banks seem to have made meaningful progress in the resolution of problem loans, says the French banking group Natixis in a research report. The aggregate amount of announced debt-to-equity (D/E) swaps has reached RMB1,048 billion, amounting to 1.1% of total loans at end-2017. “We expect banks to see an improvement, with corresponding relief on overall asset quality/profitability, but only if the announced deals are implemented for real,” Natixis says.

Some 90 million UnionPay credit cards now on issue outside mainland China

February 11, 2018

SHANGHAI,-  UnionPay International, China’s only credit card provider, says  about 20 million more UnionPay cards were issued outside the Chinese mainland in 2017, increasing the total number of UnionPay cards issued outside mainland China to about 90 million. The transaction volume of these UnionPay cards grew by about 40% on-year.

ANZ tips first interest rate for Australia May 2019

February 9, 2018

SYDNEY – ANZ Bank is predicting May 2019 as the earliest likely timing for the first rate hike, in the absence of wage pressure emerging earlier than expected.  “Greater clarity about the RBA’s reaction function most likely rules out a rate hike in 2018, in our view,” an ANZ  research report says. “This is a shift from our previous expectation of two rate hikes.”

China cements position as leading green bond market, US$37.1 bn issued in 2017

February 8, 2018

LONDON -  Climate Bonds Initiative and China Central Depository & Clearing Co. Ltd (CCDC), with the support of HSBC, today released the China Green Bond Market 2017 report, showing that total green bond issuance from China reached US$37.1 billion (RMB248.6 bn) in 2017, a 4.5% increase on the previous record-breaking year.