Higher interest rates in Hong Kong have driven companies in the city to borrow money from mainland Chinese banks, The Standard reported, citing Hong Kong Monetary Authority Deputy Chief Executive Arthur Yuen Kwok-hang.
Total loans granted by banks in the city fell 3.2% in the 10 months through October, according to data from the city's de facto central bank released Nov. 29.
Cross-border trade settlements fell to 1.22 billion yuan in October from 1.27 billion yuan in September, the HKMA said.
The difference in interest rates between Hong Kong and mainland China is between 1.5% to 2%, leading to a 5.8% rise in savings and abundant liquidity, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。