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...“If you look at the numbers, it is the climate event of the century, not just for Pakistan but for the whole world,” said Sherry Rehman, climate change minister....
...At the World Economic Forum in Davos in January, Pakistan’s climate change minister, Sherry Rehman, warned of “recovery traps”....
...Reporting by Sherry Fei Ju in Beijing, Sun Yu in Shanghai, Primrose Riordan and Thomas Hale in Hong Kong and Edward White in Seoul...
...Additional reporting by Wang Xueqiao in Shanghai and Sherry Fei Ju and Sun Yu in Beijing...
...Sherry Rehman, Pakistan’s climate change minister, has described the disaster as “the climate catastrophe of the decade” and “a super-flood to beat all”....
...Additional reporting by Sherry Fei Ju, Sun Yu and Nian Liu in Beijing; and James Kynge in Hong Kong...
...News round-up US probes Meeting between Activision CEO and option buyer (WSJ) Holland & Barrett makes delayed loan payment after sanctions green light (FT) Asia buyout deals reach $46.5bn in record first...
...Reporting by Hudson Lockett in Hong Kong, Sherry Fei Ju in Beijing and Edward White in Seoul...
...Additional reporting by Sherry Fei Ju in Beijing...
...At the end of the third quarter of 2020, loans to property accounted for 29 per cent of total renminbi loans, according to People’s Bank of China data....
...Additional reporting by Hudson Lockett in Hong Kong and Sherry Fei Ju in Beijing...
...Alipay arranges small loans to consumers and small businesses and earns a service fee from the lender tied to the loan balance....
...“These [kinds of loans] became quite common but they have brought down a lot of Chinese companies.”...
...“Sometimes they create shell companies and then take lots of loans. The loan book can look diversified but actually it’s very concentrated.”...
...authorities have become increasingly concerned over corporate governance at financial groups and last week purged a list of 38 “illegal shareholders” that had used their ownership in banks to get access to cheap loans...
...For many private groups, access to bank loans and other forms of liquidity is tight, forcing them to hoard funds....
...International Financial Corporation, the private sector arm of the World Bank, invested Rmb65m in 2010 and also provided the group with a Rmb200m loan. IFC bought 12m shares at Rmb5.42....
...Additional reporting by Xinning Liu, Sherry Fei Ju and Sun Yu in Beijing...
...Additional reporting by Hudson Lockett, Primrose Riordan, Sherry Fei Ju, Nian Liu and Yuan Yang...
...The SMEs’ lenders, in turn, will be able to postpone formal designations of the loans as non-performing....
...However, defaults on such loans would not create significant losses for the bank....
...That means troubled shadow lenders could receive loans from regular banks, with which they remain “tightly tied” through investment vehicles such as wealth management products....
...The central bank has also pledged to buy loans off smaller banks in order to free up lending capacity. Additional reporting by Sherry Fei Ju in Beijing...
...But this time the PBoC’s $28bn one-year lending facility was made before other loans had come to an end and therefore was not expected by investors....
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