An investigation into metals financing in a northeastern Chinese port city has cast a chill in Singapore, where a surge of business financing imports into China has bankers increasingly worried.
A Chinese company’s alleged use of metal as collateral to get loans from several international banks shows that commodity-backed loans are not as safe as bankers assumed.
More and more of these loans originate from Singapore as international banks move their China business out of Hong Kong, leading Chinese firms to set up shop in the tropical entrepot to tap offshore dollar liquidity.
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