#USSanctions
China regulators reportedly meet banks to discuss protecting assets from US sanctions
Source: news.com.au #May3
#USSanctions #UkraineInvasion #ChineseAssets #CCP
China regulators reportedly meet banks to discuss protecting assets from US sanctions
Source: news.com.au #May3
#USSanctions #UkraineInvasion #ChineseAssets #CCP
#USSanctions
China regulators reportedly meet banks to discuss protecting assets from US sanctions
Chinese regulators held an emergency meeting with domestic and foreign banks last month to discuss protecting trillions of dollars in overseas assets from US-led #sanctions similar to those imposed on Russia, according to a report.
The Financial Times reports the April 22 meeting between representatives from China’s central bank and finance ministry, and executives from all large banks operating in China, was called because Chinese officials are worried similar action could be taken against Beijing in the event of a regional military conflict.
While the officials and attendees did not mention specific scenarios, according to the report, the most likely trigger for international sanctions is thought to be a Chinese invasion of #Taiwan.
“If China attacks Taiwan, decoupling of the Chinese and western economies will be far more severe than [decoupling with] Russia because China’s economic footprint touches every part of the world,” one of the people briefed on the meeting told the Financial Times.
According to the Financial Times report, senior Chinese regulators asked bankers at the meeting what could be done to protect China’s overseas assets, especially its $US3.2 trillion in foreign reserves.
China holds more than $US1 trillion in US Treasury bonds and owns huge amounts of real estate, including major New York office buildings and hotels.
“No one on site could think of a good solution to the problem,” another person briefed on the meeting told the newspaper. “China’s banking system isn’t prepared for a freeze of its dollar assets or exclusion from the Swift messaging system as the US has done to Russia.”
Source: news.com.au #May3
https://www.news.com.au/finance/economy/world-economy/china-regulators-reportedly-meet-banks-to-discuss-protecting-assets-from-us-sanctions/news-story/ac62b7e110bd4ebd046e09410bc7bbae
#USSanctions #UkraineInvasion #ChineseAssets #CCP
China regulators reportedly meet banks to discuss protecting assets from US sanctions
Chinese regulators held an emergency meeting with domestic and foreign banks last month to discuss protecting trillions of dollars in overseas assets from US-led #sanctions similar to those imposed on Russia, according to a report.
The Financial Times reports the April 22 meeting between representatives from China’s central bank and finance ministry, and executives from all large banks operating in China, was called because Chinese officials are worried similar action could be taken against Beijing in the event of a regional military conflict.
While the officials and attendees did not mention specific scenarios, according to the report, the most likely trigger for international sanctions is thought to be a Chinese invasion of #Taiwan.
“If China attacks Taiwan, decoupling of the Chinese and western economies will be far more severe than [decoupling with] Russia because China’s economic footprint touches every part of the world,” one of the people briefed on the meeting told the Financial Times.
According to the Financial Times report, senior Chinese regulators asked bankers at the meeting what could be done to protect China’s overseas assets, especially its $US3.2 trillion in foreign reserves.
China holds more than $US1 trillion in US Treasury bonds and owns huge amounts of real estate, including major New York office buildings and hotels.
“No one on site could think of a good solution to the problem,” another person briefed on the meeting told the newspaper. “China’s banking system isn’t prepared for a freeze of its dollar assets or exclusion from the Swift messaging system as the US has done to Russia.”
Source: news.com.au #May3
https://www.news.com.au/finance/economy/world-economy/china-regulators-reportedly-meet-banks-to-discuss-protecting-assets-from-us-sanctions/news-story/ac62b7e110bd4ebd046e09410bc7bbae
#USSanctions #UkraineInvasion #ChineseAssets #CCP
news
Ominous meeting hints at China invasion
<p>Chinese regulators held an emergency meeting with domestic and foreign banks last month to discuss protecting trillions of dollars in overseas assets from US-led sanctions similar to those imposed on Russia, according to a report.</p>