China Government Tells Financial Institutions to Reduce Fees for Small & Medium-Sized Businesses, Securities Firms & Fund Managers to Reduce Fees for Investors
16th September | Hong Kong
China government (State Council) has issued a circular to financial institutions to reduce fees for small & medium-sized businesses, securities firms & fund managers to reduce fees for investors, and strict regulation of government fees & fines. With a zero COVID-19 policy, China government is continuing to use different ways to support the economy (China economy has been hit by a zero COVID-19 policy, impacting international travellers, supply-chain, and the wider economy.). Earlier in September 2022, China announced the issuance of $29 billion (CNY 200 billion) in special loans to property developers to fund stalled housing projects (Ministry of Housing & Urban-Rural Development, Ministry of Finance, China Policy Banks), and separately through 2 China policy banks invest a total of $43 billion (CNY 300 billion) to fund infrastructure construction in China (China Development Bank ~ China’s largest policy lender, Agricultural Development Bank of China).
“ China Government Tells Financial Institutions to Reduce Fees for Small & Medium-Sized Businesses, Securities Firms & Fund Managers to Reduce Fees for Investors “
China Property Watch: Worst-Case Projection of 6.4% Total Mortgage at Risks Amount to $356 Billion, Representing 2.5% of China GDP
August 2022: In the worst-case scenario in the current China property mortgage crisis, S&P Global Ratings estimated that the total mortgage at risk amounted to 6.4% of total mortgages ($356 billion, CNY 2.4 trillion), representing around 2.5% of China total GDP ($14 trillion).
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